Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Texas oil production up slightly from last year
by Daniel J. Graeber
Austin, Texas (UPI) Oct 27, 2016


disclaimer: image is for illustration purposes only

Oil output from Texas, the No. 1 producer in the country, for August, the last full month for which data are available, was higher than last year, data show.

The Railroad Commission of Texas, the state energy regulator, reported preliminary production of crude oil averaged 2.4 million barrels per day, about a half percent higher than the same time last year. So far over the past 12 months, Texas has produced about 1 billion barrels of crude oil.

Crude oil prices have recovered to the point that the economy for the state is showing signs of growth. During the summer, wages for hourly workers dropped below the national average for the first time in four years for Texas. High-wage jobs in the energy sector were vanishing.

A late September survey of business activity from the Federal Reserve Bank of Dallas found support for a general expansive sentiment for energy firms. Those companies tied to the exploration and production side of the energy sector showed contraction, but at a slower pace than previous quarters.

Generally speaking, the Dallas Fed said the oil and gas sector showed signs of recovery during the third quarter, but some companies tied to the industry said they were concerned about the negative pressure on crude oil prices that came as a result of an oversupplied market.

The Texas Railroad Commission also reported slight gains in daily production figures for July.

The Dallas Fed said that, in terms of stock values, there were increases posted for most Texas companies and permits for oil and gas wells increased. Oilfield services company Schlumberger, which has offices in Houston and is the largest company of its kind, said last week the oil market is in balance and recovery is on the way.

Schlumberger services the exploration and production side of the industry. Rig counts, which offer a loose metric to gauge exploration and production activity, moved higher for Texas last week when compared with the previous week, but were still lower year-on-year.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
North Dakota police move to clear pipeline protesters
Chicago (AFP) Oct 27, 2016
Police in the US state of North Dakota engaged in a tense standoff with oil-pipeline protesters Thursday, attempting to clear them from a public road and off private property. Police used a sound cannon to disperse protesters, some of whom had moved closer to the construction area of the Dakota Access Pipeline, the subject of a months-long protest by Native Americans and their supporters. ... read more


OIL AND GAS
Australian consortium buys power grid after Chinese bid blocked

UNESCO urges Bangladesh to scrap Sundarbans plant

NREL releases new cost and performance data for electricity generation

Strong at the coast, weak in the cities - the German energy-transition patchwork

OIL AND GAS
Ultralow power transistors could function for years without a battery

Scientists find static 'stripes' of electrical charge in copper-oxide superconductor

Scientists measure how ions bombard fusion device walls

Improved water splitting advances renewable energy conversion

OIL AND GAS
Biomass heating could get a 'green' boost with the help of fungi

Algae discovery offers potential for sustainable biofuels

The road to green hydrogen runs through mazes in algal proteins

Nano-spike catalysts convert carbon dioxide directly into ethanol

OIL AND GAS
Bulgaria to pay Russia 600 mn euros for dropped nuclear plant

Germany approves controversial nuclear waste deal

Anti-nuclear politician's win hurts Japan atomic push

Japan nuclear reactor shuttered for safety work

OIL AND GAS
Concentration of CO2 in atmosphere hits new high: UN

Drought, hunger add to South Sudan's woes

Indonesia ratifies Paris climate accord

Soil moisture, snowpack data could help predict 'flash droughts'

OIL AND GAS
Long-vanished German car brand joins electric race

IBM Watson machine smarts hitch a ride with GM cars

US judge approves massive VW emissions settlement

Driverless truck from Uber's Otto makes Colorado beer delivery

OIL AND GAS
Iraq Christian areas retaken but return still distant

Iraq records largest displacement of Mosul operation

On Mosul road with elite force's 'cleaners'

Jihadists 'shave beards' as pressure builds on Mosul

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.