Archive for the ‘Granite Wash’ Category
The Texas oil and gas industry shed 84,000 jobs during the Texas Petro Index’s 16-month decline from November 2014 through last month, the Texas Alliance of Energy Producers reported on Apr. 19.
The overall US drilling rig count declined by double digits during the week ended Apr. 1 for the 11th time in 13 weeks to begin the year.
US rig count hits all-time low in recorded data
March 11th, 2016 by Latest News
The overall weekly US rig count is now at its lowest point in Baker Hughes Inc. data that begins in the 1940s, and perhaps since the infancy of US oil and gas industry in the mid-19th century.
Dramatic decreases in Texas upstream oil and gas industry economic indicators—even crude oil production—suggest a continued “bloodletting” in 2016, an economist indicated this week.
The latest drilling dive continued during the week ended Feb. 19, with the US rig count shedding 27 units to bring the current total to 514, Baker Hughes Inc. reported. All but one of those units targeted oil.
Devon slashes capex for 2016 by 75%, plans to trim workforce by 20%
February 17th, 2016 by Latest News
Devon Energy Corp., Oklahoma City, plans capital expenditures in 2016 of $1.17-1.45 billion, down from $5.26 billion in 2015.