Keyword: permian

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  • Why the Permian shale boom transformed US energy markets

    09/20/2014 8:56:02 AM PDT · by ckilmer · 7 replies
    marketrealist ^ | • Sep 18, 2014 10:31 am EDT | By Alex Chamberlin
    Why the Permian shale boom transformed US energy markets By Alex Chamberlin - Disclosure  • Sep 18, 2014 10:31 am EDT U.S. shale boom transformed U.S. energy marketsAccording to the U.S. Energy Information Administration (or EIA), the top seven unconventional oil plays accounted for 95% of domestic oil production growth. They also accounted for all domestic natural gas production growth during 2011–2013.Permian Basin crude oilAccording to the EIA, the Permian Basin in west Texas and eastern New Mexico is the largest crude oil-producing region in the U.S.Enlarge GraphCrude oil production from the Permian Basin increased from 850,000 barrels per day...
  • Oilfield activity injects momentum into economy

    09/02/2014 5:10:34 AM PDT · by thackney · 1 replies
    Midland Reporter-Telegram ^ | August 31, 2014 | MellacEwen
    The impact of higher oil and gas activity, fueled by a run-up in crude prices, continued to flow into the general economies of Midland and Odessa in July. Karr Ingham, the Amarillo economist who prepares the Midland-Odessa Regional Economic Index for Midland Development Corp. and Security Bank, said the July index is 6.2 percent higher than the previous July. This is a higher increase than June, which was 5.8 percent above June 2013 levels. Ingham said the increased momentum comes at a time when the Midland-Odessa economy had been reporting shrinking growth rates. “It’s not like we were really seeing...
  • EARTH was a BAKING LIFELESS DESERT for 5 MILLION years

    10/19/2012 9:11:14 AM PDT · by SeekAndFind · 35 replies
    The Register ^ | 10/19/2012 | By Brid-Aine Parnell
    Boffins have discovered that "lethally hot" ocean temperatures kept the Earth devoid of life for millions of years after the mass extinction that occurred 250 million years ago. The global wipeout that ended the Permian era, before dinosaurs, wiped out nearly all of the world's species. Mass extinctions like these in Earth's history are usually followed by a "dead zone", a period of tens of thousands of years before new species crop up. But the early Triassic dead zone lasted millions of years, not thousands. Boffins now reckon that the extra-long five million year dead zone was caused by screaming...
  • Texas price gap widens as oil production rises

    08/19/2014 12:55:11 PM PDT · by thackney · 18 replies
    Fuel Fix ^ | August 19, 2014 | Robert Grattan
    The gap between crude oil prices in the major trading centers of Midland, Texas and Cushing, Okla. ballooned to $19 Tuesday morning, the widest point this year and second-highest on record. On Tuesday morning, the price for crude oil hit a low of $77.48 per barrel in Midland. In Cushing, the benchmark pricing point for U.S. crude contracts, the price was $96.48. Worldwide crude prices fell, Bloomberg reported, after Iraqi and Kurdish forces regained control of a key dam in Iraq and slowed the advance of Islamic State militants. Midland prices are further depressed because production growth in West Texas’...
  • 5 Things Pioneer Natural Resources’ Management Wants You to Know

    08/18/2014 11:15:30 PM PDT · by ckilmer · 29 replies
    fool.com ^ | August 18, 2014 | By Matt DiLallo
    5 Things Pioneer Natural Resources’ Management Wants You to Know By Matt DiLallo | More Articles | Save For Later August 18, 2014 | Comments (0) Pioneer Natural Resources' (NYSE: PXD  ) management team earlier this month spent nearly 75 minutes discussing its second-quarter results with analysts and investors. The company believes it is sitting on more than 10 billion barrels of recoverable oil and gas in the Permian Basin. Here's what management wants investors to know about its plans to create value from that massive resource. No. 1: The water issue is slowly drying upOne reason for Pioneer Natural Resources' large...
  • Oil production in Permian causes pipeline bottleneck in Texas

    08/17/2014 8:05:45 PM PDT · by ckilmer · 13 replies
    rigzone ^ | Tue Aug 12, 2014 12:56pm EDT | Catherine Ngai
    Oil Production In Permian Causes Pipeline Bottleneck In TexasCatherine Ngai|Tuesday, August 12, 2014 NEW YORK, Aug 12 (Reuters) - Oil production from the burgeoning Permian Basin of West Texas is outpacing pipelines' ability to transport oil to the Gulf Coast, causing coastal refiners to pay an additional premium to acquire oil.On Monday, that bottleneck caused oil for delivery at Midland, Texas <WTC-WTM> to trade at nearly $20 a barrel less than Gulf Coast benchmark Light Louisiana Sweet <WTC-LLS>, the deepest discount in 17 months. It was little changed on Tuesday.The deep discount is a consequence of the U.S. shale revolution, which...
  • Why This Oil Baron Thinks U.S. Oil Production Could Double

    08/17/2014 3:17:37 PM PDT · by ckilmer · 47 replies
    fool.com ^ | August 17, 2014 | Adam Galas
    Why This Oil Baron Thinks U.S. Oil Production Could Double By Adam Galas | More Articles August 17, 2014 | Comments (0) America's oil production is on a roll. After peaking in November of 1970 at 10 million barrels per day (bpd) and declining for nearly 40 years to a low of just 5 million bpd in 2008, today's oil production has soared 67%. The Energy Information Administration (EIA) is expecting another 13.6% increase by 2016 to 9.5 million bpd, before production tapers off in 2020. This miracle has been made possible by soaring shale oil production out of Texas...
  • Permian’s Oil Surge Creates Need for Pipelines

    08/08/2014 4:22:20 AM PDT · by thackney · 10 replies
    Fox Business ^ | August 07, 2014 | Matthew Rocco
    With crude gushing from the Permian Basin, companies are ramping up efforts to build pipelines and better capitalize on the production surge. Drillers have been producing oil in the Permian for some eight decades. But in recent years, the Texas formation’s central region, which consists of the Delaware and Midland basins, became a hotbed for shale oil. The Permian is now the top oil-producing area in the U.S., accounting for 18% of the nation’s total output in 2013. Based on data from the Energy Information Administration, the Permian recorded production of 1.35 million barrels per day last year. The region...
  • Pioneer CEO: US oil production could hit 14 million barrels/day

    08/07/2014 3:32:58 PM PDT · by ckilmer · 29 replies
    fuelfix ^ | August 6, 2014 at 6:54 pm | y Jennifer A. Dlouhy
    Pioneer CEO: US oil production could hit 14 million barrels/day Posted on August 6, 2014 at 6:54 pm by Jennifer A. Dlouhy in General Scott Sheffield, chairman and CEO of Pioneer Natural Resources, speaks in Midland, Texas. (Tim Fischer\Reporter-Telegram) DENVER — Technological improvements will allow energy companies to scrape more crude out of the ground and drive U.S. oil production higher, even as producers seek new overseas markets for the fossil fuels, executives said Wednesday.Although government forecasters expect U.S. oil production to peak around 9.5 million barrels per day in 2016, Scott Sheffield, CEO of Irving, Texas-based Pioneer Natural Resources...
  • Looking For The Next Oil Boom? Follow The Tech

    07/16/2014 4:02:08 PM PDT · by ckilmer · 12 replies
    seekingalpha ^ | Jul. 16, 2014 10:16 AM ET
    Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero.
  • Six formations are responsible for surge in Permian Basin crude oil production

    07/09/2014 7:30:55 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | JULY 9, 2014 | Energy Information Administration
    The Permian Basin in Texas and New Mexico is the nation's most prolific oil producing area. Six formations within the basin have provided the bulk of Permian's 60% increase in oil output since 2007. Crude oil production in the Permian Basin has increased from a low point of 850,000 barrels per day (bbl/d) in 2007 to 1,350,000 bbl/d in 2013. Largely as a result of this growth, crude oil production from Permian Basin counties has exceeded production from the federal offshore Gulf of Mexico region since March 2013, making the Permian the largest crude oil producing region in the United...
  • Expectations for Permian Basin oil production rises

    06/10/2014 9:17:23 PM PDT · by ckilmer · 28 replies
    fool.com ^ | June 10, 2014 | By Matt DiLallo
    By Matt DiLallo | More Articles June 10, 2014 | Comments (0)   Source: Chesapeake Energy.  Drilling down into the Permian BasinWhile the Permian Basin is one of America's oldest and most prolific oil basins, its best days could lie ahead. According to leading Permian Basin driller Pioneer Natural Resources (NYSE: PXD  ) , the Spraberry and Wolfcamp Shale formations in the Permian Basin represent the largest oil field in America, and one of the biggest in the world. As the following slide notes, the field holds an estimated 75 billion barrels of recoverable oil and gas. Source: Pioneer Natural Resources.  As that...
  • Fracking Isn’t the Only Drilling Technique Driving Rapid Growth in U.S. Oil Production

    06/01/2014 3:49:02 PM PDT · by ckilmer · 28 replies
    fool.com ^ | June 1, 2014 | Arjun Sreekumar
    Fracking Isn’t the Only Drilling Technique Driving Rapid Growth in U.S. Oil Production By Arjun Sreekumar | More Articles | Save For Later June 1, 2014 | Comments (0) As the U.S. energy boom has taken off over the past several years, the term "fracking" has become a household name. But fracking, which involves pumping massive quantities of water, proppant, and other chemicals into a wellbore to unlock trapped hydrocarbons, isn't the only drilling technique responsible for the surge in U.S. oil and gas production.Horizontal drilling, which allows operators to reach hydrocarbon formations that cannot be accessed via vertical drilling,...
  • New projections show oil production soaring as rigs boost efficiency

    05/29/2014 10:02:54 AM PDT · by ckilmer · 3 replies
    fuelfix ^ | May 12, 2014
    New projections show oil production soaring as rigs boost efficiency Posted on May 12, 2014 at 6:48 pm by Simone Sebastian in featured, Production, Shale EmailPrint1263 inShare184 An Enervest rig works in the Barnett Shale. (Enervest) HOUSTON — Oil production will continue to soar in the six major U.S. shale plays, with more barrels pumped per rig, according to federal projections released Monday.Total oil production in the six regions is expected to grow to 4.43 million barrels per day in June, an increase of 75,000 barrels per day compared to May, according to the U.S. Energy Information Administration. The federal...
  • PERMIAN BECOMING LARGEST US TIGHT OIL PLAY {forcast}

    05/28/2014 12:38:41 PM PDT · by thackney · 25 replies
    Oil & Gas Financial Journal ^ | May 7, 2014 | Rystad Energy
    The Permian Basin, known for its vast conventional resources, has experienced over the past years an activity renaissance targeting unconventional formations. More recently, unconventional activity in this basin has shifted from vertical to horizontal wells yielding more recoverable volumes and higher D&C costs per well. Hence, both tight oil production and spending are expected to grow in this area, possibly surpassing other mature shale plays such as Eagle Ford and Bakken. The accelerated drilling into the Wolfcamp and other horizons in the Permian Basin anticipate this area will produce more tight oil volumes than any other tight play in North...
  • The Jaw-Dropping Potential in This American Oil Patch Could Change the World

    05/25/2014 9:39:44 AM PDT · by ckilmer · 41 replies
    fool.com ^ | May 24, 2014 | Tyler Crowe
    The Jaw-Dropping Potential in This American Oil Patch Could Change the World By Tyler Crowe |May 24, 2014 | It may not look like much, but this might be the biggest oil field in the world (Source: Devon Energy Media Resources).The pride and joy of Saudi Arabia's oil industry has been the Ghawar oil field, which has been recognized as the largest in the world ever since its discovery in 1948. That is, perhaps, until now. A shale oil formation deep beneath the plains of West Texas has been sitting right under our noses for years, and Pioneer Natural Resources (NYSE: PXD  )...
  • Horizontal Drilling Is On the Rise in Permian As Producers Chase Tight Oil

    05/23/2014 5:47:50 AM PDT · by thackney · 7 replies
    Rig Zone ^ | May 22, 2014 | Gene Lockard
    For the past several years, the Permian Basin remained an area where vertical drilling was still the principle method of extraction, even as horizontal drilling and hydraulic fracturing become ubiquitous in the Eagle Ford Shale, the Bakken, and other shale plays in the United States. However, horizontal drilling is on the rise in the Permian Basin, as well, according to new data by the Energy Information Administration (EIA). Horizontal drilling began to increase in the Permian Basin early in 2013, the EIA said. By the end of 2013, oil extraction in the Permian accounted for half of the total increase...
  • Texas is still the number one oil producer, but how long will the boom last?

    05/16/2014 10:17:30 AM PDT · by thackney · 13 replies
    Oil Pro ^ | 5/15/2014 | Andrew Ward
    Despite impressive strides made in areas like North Dakota and Ohio, and the previous challenges felt in northern regions of the state, Texas is still far and away the leading producer of domestic oil. Earlier this week, the Energy Information Administration released its drilling productivity report, which showcases anticipated production levels in the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara and Permian regions. Collectively, these combine for 90 percent of the United States' oil production growth. The Eagle Ford Formation, which runs along most of southern Texas, is leading the way. According to the report, Texas is the nation's top oil...
  • New Frontiers: the race to get takeaway capacity out to the West Texas oil fields

    04/21/2014 11:36:27 AM PDT · by thackney · 3 replies
    Platts ^ | April 21, 2014 | Bridget Hunsucker
    US Permian Basin pipeline capacity is slated to soon expand by about 500,000 b/d, matching growing production with takeaway capacity. But the balancing act may be short-lived, as horizontal drilling is expected to unlock more oil in the legacy field. Producers are applying shale drilling techniques learned in the North Dakota Bakken and South Texas Eagle Ford to the Permian, and some longterm forecasts for the West Texas play have been revised northward in the past year. The Permian Basin lies under West Texas and southeast New Mexico and historically produces light sweet West Texas Intermediate crude and medium sour...
  • Cramer's Stop Trading: Energy Revolution

    04/17/2014 3:11:28 PM PDT · by ckilmer · 1 replies
    Cramer discusses companies involved in Permian basin oil output whose numbers came in today at 2.75 million barrels a day
  • Toxic Gases Caused World's Worst Extinction

    02/04/2009 1:26:44 PM PST · by NormsRevenge · 38 replies · 2,252+ views
    Discovery News ^ | 2/4/09 | Michael Reilly
    Feb. 4, 2009 -- An ancient killer is hiding in the remote forests of Siberia. Walled off from western eyes during the Soviet era and forgotten among the endless expanse of wilderness, scientists are starting to uncover the remnants of a supervolcano that rained Hell on Earth 250 million years ago and killed 90 percent of all life. Researchers have known about the volcano -- the Siberian Traps, for years. And they've speculated that the volcanic rocks, which cover an area about the size of Alaska, played a role in runaway global warming that led to the end -- Permian...
  • Power grid takes on the West Texas drilling boom

    03/06/2014 10:46:31 AM PST · by thackney · 8 replies
    Fuel Fix ^ | March 6, 2014 | Emily Pickrell
    The booming oil and gas industry in the Permian Basin has created a voracious demand for power in West Texas, one that the grid is struggling to keep pace with, a Texas grid manager said Thursday. “Growth out in the far West is 20 to 25 percent year over year. It has just exploded and it is all oil field load,” said Brad Jones, vice president of commercial operations for the Electric Reliability Council of Texas, which manages the grid for most of Texas. Jones was one of several speakers at a morning panel at the IHS CERAWeek energy summit...
  • New Frontiers: Eagle Ford vs. Permian, the great Texas oil showdown

    02/25/2014 4:48:38 AM PST · by thackney · 9 replies
    Platts ^ | February 24, 2014 | Starr Spencer
    Production in West Texas’ Permian Basin has grown at a moderate clip over the last few years, but how does it stack up to its faster-growing peer resource plays? Two prominent operators in the biggest US unconventional oil plays traded thoughts recently on how it measures up to the giant Eagle Ford field, which has been called the “800-pound gorilla” among shale plays. The prolific Eagle Ford, sited in South Texas, and the Bakken Shale in North Dakota/Montana each produce less than the Permian, but are the bigger plays, Bill Thomas, CEO of EOG Resources, said at the Credit Suisse...
  • New Frontiers: The Cline shale might not be the next big thing

    01/28/2014 5:58:07 AM PST · by thackney · 15 replies
    Platts ^ | January 27, 2014 | News Desk
    When the Cline Shale first moved into the public eye a couple of years ago, the West Texas play quickly set aflame industry’s imagination of a Saudi Arabia-like reservoir that would provide tens of billions of barrels of crude for the oil-hungry US market. “Shale oil field 3 times bigger than the Eagle Ford (and 6x bigger than the Bakken),” read one headline. “Cline Shale could be biggest in US history,” read another. But the Cline, alone, has not yet lived up to the hype, although exploration there is still in its infancy compared to the slightly more mature and...
  • Second Life for an Old Oil Field

    11/20/2013 3:33:57 PM PST · by thackney · 14 replies
    Wall Street Journal ^ | Nov. 19, 2013 | TOM FOWLER
    One of Texas' oldest oil fields, in decline for decades, has become one of the hottest places in the country to drill for crude, as energy companies create clusters of wells with layers of horizontal branches. The Permian Basin—86,000 square miles centered on Midland, Texas—has been pumping oil since the 1920s, though production peaked at about 2 million barrels a day in the early 1970s. For decades, geologists have known that oil could be found in different layers of rock piled up like a stack of geologic pancakes. But now drillers are starting to tap those layers simultaneously from a...
  • Texas on track to be among world’s largest oil producers

    10/08/2013 5:18:11 AM PDT · by thackney · 23 replies
    Fuel Fix ^ | October 7, 2013 | Zain Shauk
    Drilling and production in Texas continues to rise, putting the state on track to be among the world’s largest producers of oil by the end of the decade, a Texas regulator told a Houston audience Monday. Texas Railroad Commission Chairman Barry Smitherman said that drilling permit applications are approaching their highest level in nearly 30 years at the same time as oil production continues to rise. “This year we are likely to issue more drilling permits for oil than we have since 1985,” Smitherman said at an event hosted by the Locke Lord law firm downtown. The three-member Railroad Commission...
  • Texas oil and gas activity sets index record

    10/03/2013 8:18:41 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | October 3, 2013 | Vicki Vaughan
    The state’s oil and gas industry continued to strengthen in August, according to an index of key activity. “The Texas Petro Index continued its march into record territory in August,” said economist Karr Ingham, who developed the index. Strong crude oil prices and improving natural gas prices helped boost the index to 289.8, a record level that beat the old record, set in July, of 288.2. The latter number was revised upward from 287.7 because of ongoing revisions for the state’s oil production. Ingham prepares the monthly index for the Texas Alliance of Energy Producers, an industry association. He began...
  • Texas Oil And Gas Numbers Fly Off The Charts

    08/08/2013 6:46:38 PM PDT · by thackney · 26 replies
    Forbes ^ | 8/07/2013 | David Blackmon
    The growing scale of the oil and natural gas boom in Texas continues to stun most observers. We have discussed this phenomenon periodically (see prior pieces here and here) , but the newest developments are so off the charts that an update is warranted. We’ve pointed out a couple of times that Texas’s oil production represents roughly 30% of the total US output, an amazing statistic, especially considering that the percentage was below 15% just a few years ago. In May, that statistic became even more amazing, as Texas accounted for 34.5% of total US oil production, thanks to continued...
  • Biggest extinction in history caused by climate-changing meteor

    08/05/2013 8:34:44 AM PDT · by Renfield · 66 replies
    phys.org ^ | 8-1-2013
    It's well known that the dinosaurs were wiped out 66 million years ago when a meteor hit what is now southern Mexico but evidence is accumulating that the biggest extinction of all, 252.3m years ago, at the end of the Permian period, was also triggered by an impact that changed the climate. While the idea that an impact caused the Permian extinction has been around for a while, what's been missing is a suitable crater to confirm it. Associate Professor Eric Tohver of the University of Western Australia's School of Earth and Environment believes he has found the impact crater...
  • Ingham: Moderate, Steady Growth for Texas Energy

    07/30/2013 12:12:30 PM PDT · by thackney · 1 replies
    Fuel Fix ^ | July 30, 2013 | Gene Lockard
    The health of the crude oil and natural gas industry seems to be under-appreciated, economist Karr Ingham told a roomful of Texas producers and energy industry journalists in a July 29 presentation given by the Texas Alliance of Energy Producers. The energy industry in Texas is growing at a modest but stable pace, and more people than ever before are employed in the state’s energy industry, Ingham, the creator of the Texas Petro Index (TPI), said at the Houston Petroleum Club presentation. According to TPI statistics, the number of Texans who are employed by oil and gas companies is nearly...
  • Oil Field Catering Will Be a Growing Business in the Cline

    07/08/2013 4:24:24 AM PDT · by thackney · 11 replies
    Rig Zone ^ | July 2, 2013 | John Mangalonzo
    With an expected influx of perhaps thousands of workers, area restaurants are gearing up for what's to come with the Cline Shale oil boom by expanding their catering capabilities to include oil field services. The idea of food catering to drilling and hydraulic fracturing or fracking sites is rapidly picking up steam in Abilene, a city many energy experts say will play a big part in the oil play. Oil field catering has become a very lucrative business in the Permian Basin to the west and Eagle Ford Shale to the south. Motorists passing going south from Abilene on U.S....
  • Permian Basin region facing housing shortage {West Texas, NM}

    07/08/2013 4:13:35 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | July 6, 2013 | Associated Press
    A southeastern region of New Mexico facing a housing shortage thanks to a Permian Basin oil boom has seen several planned projects fall through. The Hobbs News-Sun reports that a number of affordable housing projects in recent months have fizzled in Hobbs and Lea County despite the pressing demand for housing near the Texas border. For example, a planned 60-home, 12-acre mobile home park that sought to bring homes selling at less than $100,000 fell through last month due to a lack of financing. “I was having challenges getting the financing secured. That is what killed it,” Albuquerque developer Tony...
  • Electricity prices soar in West Texas as shale drilling expands

    06/27/2013 4:00:30 AM PDT · by thackney · 11 replies
    Fuel Fix ^ | June 26, 2013 | Emily Pickrell
    The Texas shale boom has led to record growth in the demand for electricity in West Texas, experts said in at the Gulf coast Power Association panel on Wednesday afternoon. Oil and gas worker camps and drilling activity have dramatically increased demand for electricity in previously unpopulated parts of Texas, including the Eagle Ford and the Permian Basin regions. The growth has left transmission and utilities scrambling to keep up. For example, Oncor, which provides the transmission lines for the territory around Midland, Abilene and Odessa, added 247 megawatts to its system in the last three years, a thousand percent...
  • Oddest couple ever found: Amphibian and mammal forerunner share 250 million year old burrow

    06/23/2013 7:20:52 AM PDT · by SunkenCiv · 15 replies
    Phys.org ^ | June 21, 2013 | unattributed
    Scientists from South Africa, Australia and France have discovered a world first association while scanning a 250 million year old fossilized burrow from the Karoo Basin of South Africa. The burrow revealed two unrelated vertebrate animals nestled together and fossilized after being trapped by a flash flood event. Facing harsh climatic conditions subsequent to the Permo-Triassic (P-T) mass extinction, the amphibian Broomistega and the mammal forerunner Thrinaxodon cohabited in a burrow. Scanning shows that the amphibian, which was suffering from broken ribs, crawled into a sleeping mammal's shelter for protection. This research suggests that short periods of dormancy, called aestivation,...
  • New transmission lines will help power booming shale regions

    06/12/2013 10:20:05 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | June 12, 2013 | Emily Pickrell
    New transmission lines linking portions of West Texas to the Dallas-Forth Worth region will be completed by the end of this year, transmission line officials said at a Tuesday conference on electricity issues sponsored by Platts. The transmissions line project, known as the Competitive Renewable Energy Zone, is a project that will add 2,200 miles of new transmission lines in West Texas. There will be lines stretching from Lubbock to Austin. It also will link portions of the Panhandle with the Dallas-Forth Worth area. The project has cost about $7 billion. “The primary power flows were from west to east,...
  • Texas leads nation in drilling activity – by a lot

    05/30/2013 1:41:26 PM PDT · by thackney · 5 replies
    Fuel Fix ^ | May 30, 2013 | Jennifer Hiller
    Texas continues to lead the nation in drilling activity, and by a bunch. The state has 840 rigs drilling for oil or gas – about 47.7 percent of all U.S. rigs and 26.3 percent of all rigs worldwide, according to the latest Baker Hughes Rig Count. Most of the Texas rigs are working in the Permian Basin (402), the Eagle Ford Shale in South Texas (232), the Granite Wash in the Panhandle (41), the Barnett Shale in North Texas (32) and the Haynesville Shale in East Texas (17). Here’s the county-by-county breakdown of Eagle Ford rigs, as of May 24:...
  • Drilling rigs boom in Texas — and across the US

    05/16/2013 5:36:15 AM PDT · by thackney · 21 replies
    Fuel Fix ^ | May 16, 2013 | Jennifer Hiller
    In case you were wondering whether there was really an oil Renaissance happening in Texas, the state has 838 drilling rigs – about 47 percent of all U.S. rigs and 26 percent of drilling rigs worldwide. The Texas rigs are mostly operating in five fields across the state, according to the latest Baker Hughes Rig Count. The Permian Basin in West Texas has 397 rigs, the Eagle Ford in South Texas has 234, the Granite Wash in the Panhandle has 44, the Barnett Shale in North Texas has 31 and the Haynesville Shale in East Texas has 19. Our neighbors...
  • Seven Fossil-hunting Expeditions in Tanzania, Zambia Yield Surprising Results

    05/05/2013 12:44:32 PM PDT · by SunkenCiv · 4 replies
    Sci-News.com ^ | Tuesday, April 30, 2013 | unattributed
    Prof Christian Sidor and his colleagues headed by Dr Linda Tsuji, also from the University of Washington, created two ‘snapshots’ of four legged-animals about 5 million years before and again about 10 million years after the Earth’s largest mass extinction (about 252 million years ago). Prior to the extinction event, for example, the pig-sized Dicynodon was a dominant plant-eating species across southern Pangea. Pangea is the name given to the landmass when all the world’s continents were joined together. Southern Pangea was made up of what is today Africa, South America, Antarctica, Australia and India. After the mass extinction at...
  • Texas oil facts from the Eagle Ford Shale and Permian Basin areas — teenagers are making $75,000

    03/15/2013 8:07:40 AM PDT · by Dysart · 14 replies
    AEI ^ | Mark J. Perry
    Facts and anecdotes about the oil boom in Texas, especially in the Eagle Ford Shale and Permian Basin areas...1. The first Eagle Ford well was drilled in 2008 when 26 drilling permits were issued and the area produced only 358 barrels per day that first year. In 2012, Eagle Ford oil output rose to more than 352,000 barrels a day, as the number of drilling permits surged to 4,143. 2. Eagle Ford Shale could provide as many as 900,000 barrels per day by 2016. The Permian Basin, deep in west Texas, may reach 1 million barrels daily. By 2020, Texas’...
  • Oil’s new reign in Texas draws comparisons to the Kingdom

    02/18/2013 5:29:23 AM PST · by thackney · 14 replies
    Fuel Fix ^ | February 17, 2013 | Vicki Vaughan
    The Lone Star State is earning a new moniker: Saudi Texas. Oil production in Texas is soaring, jumping to an average 2.139 million barrels a day in November — the best showing in more than 25 years. Analysts are chalking up Texas’ booming production to shale plays, especially South Texas’ Eagle Ford, where production was minuscule just five years ago, along with a revival of West Texas’ Permian Basin. Analysts are tossing around the words “phenomenal,” “amazing” and “unprecedented” when discussing the numbers. Since production began in the Eagle Ford Shale, the state’s oil output has doubled and Texas’ share...
  • Texas oil output hits highest level in two decades

    01/29/2013 11:28:28 AM PST · by thackney · 9 replies
    Fuel Fix ^ | January 29, 2013 | Jeannie Kever
    Texas oil production rose by almost 100 million barrels in 2012 over the previous year, to the highest level in two decades. It was the fifth consecutive year with an increase. Despite a drop in oil prices last spring, economist Karr Ingham predicts production will rise again in 2013. Ingham offered a look at the state’s energy industry Monday as he presented the Texas Petro Index, the snapshot he developed to track trends for the Texas Alliance of Energy Producers almost 10 years ago. The 3,300-member alliance receives monthly updates from Ingham, covering rig counts, drilling permits, well completions, industry...
  • Shale playground in W. Texas

    01/10/2013 11:44:06 AM PST · by thackney · 11 replies
    Fuel Fix ^ | January 10, 2013 | Jennifer Hiller
    The Eagle Ford Shale play is still in its early stages, with landmen continuing to hunt for mineral rights across South Texas and no one really knowing how much oil is out there. But if the Eagle Ford seems big, get ready for what’s happening in West Texas, where oil and gas production is ramping up in shale layers such as the Wolfcamp in and around Midland. “They’re getting thousands and thousands of feet of pay zone,” said Ken Morgan, director of the Texas Christian University Energy Institute, who spoke Wednesday at Palo Alto College. “It’s like the Eagle Ford...
  • Conoco moving West Texas management to Houston

    01/10/2013 5:36:01 AM PST · by thackney · 11 replies
    Fuel Fix ^ | January 9, 2013 | Simone Sebastian
    ConocoPhillips is splitting its vast mid-continent business in two and moving managers from Midland to Houston, as part of an internal reorganization, according to spokesman Daren Beaudo. ConocoPhillips, the nation’s largest independent oil producer, will shut down its Odessa office in the shuffle, an effort to improve operational efficiency, Beaudo said in an e-mail. Currently, the mid-continent unit is based in Midland and stretches from Texas to the Canadian border. It includes several prolific oil plays, including the Permian Basin in West Texas and the Bakken shale in North Dakota. Beaudo did not disclose how the company’s assets will be...
  • Permian mass extinction triggered by humble microbe

    12/14/2012 1:12:41 PM PST · by Renfield · 30 replies
    New Scientist ^ | 12-14-2012 | Sara Reardon
    AROUND 251 million years ago, over 90 per cent of the species on Earth suddenly went extinct. Their killer may not have been a devastating meteorite or a catastrophic volcanic eruption, but a humble microbe. The prevailing theory is that the mass extinction at the end of the Permian period was triggered by volcanic eruptions over a vast area of what is now Siberia. This led, among other things, to a dramatic rise in greenhouse gas emissions. But the scenario just doesn't fit the facts, says Daniel Rothman of the Massachusetts Institute of Technology. From his analysis of an end-Permian...
  • Ruling on sagebrush lizard expected this week

    06/13/2012 7:27:16 AM PDT · by kbobdelux · 14 replies
    Associated Pres ^ | June 12, 2012 | n/a
    <p>SANTA FE, N.M. (AP) — A small striped lizard that lives only in the wind-swept sand dunes of four southeastern New Mexico counties and four others in West Texas is about to learn its fate.</p> <p>The Obama administration is expected to announce this week whether the dunes sagebrush lizard will be listed as an endangered species. Tom Buckley, a spokesman for the U.S. Fish and Wildlife Service in Albuquerque, said a decision could come as early as Thursday, The Las Cruces Sun-News reported (http://bit.ly/LYP1hG ).</p>
  • It Took Earth Ten Million Years to Recover from Greatest Mass Extinction

    05/28/2012 7:25:47 PM PDT · by SunkenCiv · 42 replies
    ScienceDaily ^ | May 27, 2012 | University of Bristol
    It took some 10 million years for Earth to recover from the greatest mass extinction of all time, latest research has revealed. Life was nearly wiped out 250 million years ago, with only 10 per cent of plants and animals surviving. It is currently much debated how life recovered from this cataclysm, whether quickly or slowly. Recent evidence for a rapid bounce-back is evaluated in a new review article by Dr Zhong-Qiang Chen, from the China University of Geosciences in Wuhan, and Professor Michael Benton from the University of Bristol. They find that recovery from the crisis lasted some 10...
  • 300 million year old fossilized forest discovered under coal mine in China

    02/22/2012 4:01:42 AM PST · by LibWhacker · 31 replies
    ZME Science ^ | 2/21/12
    There’s some good coming off China’s extensive coal exploitation (the nation holds the top place for most pollutant emissions resulting from burning coal), as recent mining activities around Wuda in Inner Mongolia, China, has uncovered an almost perfectly preserved 298 million year-old forest. The forest, which also features intact trees with leaves, branches, trunk and cones, was buried by volcanic ash, and thus kept away from time’s unforgiving touch. The researchers dubbed the forest the “Pompeii of the Permian period, since the manner in which it was preserved bared a striking resemblance to the famous Roman namesake event. The volcanic...
  • Earth's massive extinction: The story gets worse

    01/07/2012 6:23:42 PM PST · by SunkenCiv · 58 replies
    PhyOrg ^ | January 5, 2012 | University of Calgary
    Scientists have uncovered a lot about the Earth's greatest extinction event that took place 250 million years ago when rapid climate change wiped out nearly all marine species and a majority of those on land. Now, they have discovered a new culprit likely involved in the annihilation: an influx of mercury into the eco-system. "No one had ever looked to see if mercury was a potential culprit. This was a time of the greatest volcanic activity in Earth's history and we know today that the largest source of mercury comes from volcanic eruptions," says Dr. Steve Grasby, co-author of a...
  • New Suspect in 'Great Dying': Massive Prehistoric Coal Explosion

    12/22/2011 11:59:36 AM PST · by decimon · 44 replies
    Live Science ^ | December 22, 2011 | Jennifer Welsh
    A great explosive burning of coal set fire and made molten by lava bubbling from the Earth's mantle , looking akin to Kuwait's giant oil fires but lasting anywhere from centuries to millennia, could have been the cause of the world's most-devastating mass extinction, new research suggests. The event, called the Great Dying, occurred 250 million years ago, at the end of the Permian period. "The Great Dying was the biggest of all the mass extinctions," said study researcher Darcy Ogden of the Scripps Institution of Oceanography in San Diego. "Estimates suggest up to 96 percent of all marine species...
  • Construction accelerated on Permian-to-Gulf pipeline

    08/19/2011 9:42:15 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | August 19, 2011 | Simone Sebastian
    DCP Midstream is accelerating plans to construct a 720-mile pipeline for natural gas liquids through Texas, connecting the Permian and Eagle Ford basins to Mont Belvieu, the company announced. The Permian and Eagle Ford basins are major oil and gas production areas in west and south Texas respectively. The pipeline will start in the state’s western region, run through the south and end at Mont Belvieu, Texas, a hub of natural gas liquids processing and storage on the Gulf Coast’s northern end. DCP Midstream, a Denver-based gatherer and transporter of natural gas, announced this week that its board of directors...