. Military Space News .
OIL AND GAS
Texas drilling permits down 20 percent
by Daniel J. Graeber
Austin, Texas (UPI) May 11, 2016


disclaimer: image is for illustration purposes only

The number of oil and natural gas drilling permits issued by Texas regulators in April was lower year-on-year by 20 percent, state data show.

The Railroad Commission of Texas said it issued 683 original drilling permits in April, compared with 848 from the same month one year ago. Most of the permits were for oil-related activities.

Weekly data published Friday by oil field services company Baker Hughes show 188 rigs actively exploring for or producing oil and natural gas in Texas, a gain of 1.6 percent from the previous week, but 50 percent lower than the same week in 2015.

In February, the last full month for which state data are available, Texas produced 79.6 million barrels of oil, a figure that was lower year-on-year by around 17 percent.

Texas is the No. 1 oil producer in the United States and its rig count represents roughly 45 percent of all activity in the country. A low price for crude oil has taken a toll on the state economy, as many energy companies with headquarters in Houston lay off staff or close their offices altogether.

Texas Railroad Commissioner Christi Craddick said in a March editorial in the Midland (Texas) Reporter-Telegram it was only a matter of time before the sector recovered.

"While the overall decline in oil prices has led to falling revenues for the energy sector and job loss in the oil fields, it seems we are touching the bottom of this market cycle on our way to a bigger upside," she said.

The price for crude oil has increased 12 percent since the March editorial was published.

In terms of discoveries, state data show four new oil finds recorded in April, against three recorded in April 2012. Nevertheless, March data provided by Platts Analytics show production from the Eagle Ford shale basin in Texas, one of the more lucrative reserve areas, declined about 3 percent in March for the eighth straight month of loss.


Thanks for being here;
We need your help. The Space Media 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.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork 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
Canada wildfire a hard hit to economy, oil companies
Fort Mcmurray, Canada (AFP) May 10, 2016
The wildfire raging in Canada is forcing a reduction in oil output at the worst possible time in a country where the energy sector accounts for 10 percent of GDP and thousands have lost their jobs due to low crude prices. With authorities warning the blaze could continue to burn for months in the absence of major rainfall, economists predict that growth would stagnate in the second quarter. ... read more


OIL AND GAS
China, Russia rap US missile defence plan in S. Korea

Army developing new air defense system

Planned US Missile Defense Units in Asia-Pacific Threaten China, Russia

Lockheed Martin tests Aegis on Australian destroyer

OIL AND GAS
This is Why Russia's S-500 Air Defense System Makes Pentagon Nervous

New U.S. Navy testing of Norwegian missile

France approved for additional Hellfire missiles

Possible Australian missile buy gets State Dept. approval

OIL AND GAS
K-MAX optionally piloted helos deployed to Arizona

Bats' flight technique could lead to better drones

AeroVironment Unveils Mantis i45 EO IR Gimbal Payload for Puma AE

Mexico flies Arcturus fixed-wing VTOL UAV

OIL AND GAS
Harris providing advanced satcom terminals to Army

Elbit receives European order for tactical radios

Haigh-Farr showcases Antenna Solutions at DATT Summit

U.S. Army orders radios for Mid-East, African countries

OIL AND GAS
Navy SEALs grab limelight in years since bin Laden death

Germany orders soldier training systems

GXV-T revs up research into smarter armored ground vehicles

Army taps BAE Systems for M88A2 recovery vehicles

OIL AND GAS
Nordic countries sign joint procurement agreement

Black cadets cause West Point stir with raised fists

Australia gets Singapore defence investment boost

Nigeria says lost $15 bn in military procurement fraud

OIL AND GAS
NATO aims to 'destabilise' Caucasus with Georgia drills: Moscow

China to join US-led naval exercise: US official

Top Chinese singer tours disputed South China Sea islands

Papal envoy preaches peace at Baltic NATO base

OIL AND GAS
Little ANTs: Researchers build the world's tiniest engine

New movies from the microcosmos

Ultra-long, one-dimensional carbon chains are synthesised for the first time

Rice introduces Teslaphoresis to help assemble Nanotubes









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.