The state energy regulator in Texas said it was looking to cut back on some regulations in order to stimulate the economy through increased production.

The Railroad Commission of Texas, the state's energy regulator, said it wanted to cut back on testing requirements for oil wells, a data-saving effort that could save the industry $52 million a year.

"These cost-savings can then be passed on to create more jobs for Texans and generate more revenue for state coffers through increased energy production," Christi Craddick, the head of the agency, said in a statement.

The proposal for so-called W-10 tests would allow operators to eliminate some additional filing requirements except for circumstances where a well is reclassified from oil to gas or production resumes from a well deemed inactive.

With a rebound underway across the U.S. energy sector, the Texas economy is already showing signs of strength. The Federal Reserve Bank of Dallas expects job growth to be around 3.4 percent for the year, beating the February rate of 3.2 percent.

"Energy and construction jobs have surged along with many of the large service sector industries, such as professional and business services," Keith R. Phillips, a senior economist at the bank, said in a statement.

Texas is the No. 1 oil producer in the United States and home to the most lucrative shale basins in the country. The federal government estimates oil production from the Eagle Ford shale will increase marginally by April to 1.3 million barrels per day. Output from the Permian basin could increase 2.6 percent from the March rate of 3.07 million bpd.

Total U.S. crude oil production is around 10 million bpd. Total crude oil production from Texas last year topped 1 billion barrels.

The deregulation effort follows the approval of more than a quarter million dollars in penalties against 26 regulated entities for violating state regulations on everything from air quality to petroleum storage tanks.

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

Tweet

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

Laser-based system offers continuous monitoring of leaks from oil and gas operations
Washington DC (SPX) Mar 23, 2018
Researchers have conducted the first field tests for a new laser-based system that can pinpoint the location of very small methane leaks over an area of several square miles. The new technology could one day be used to continuously monitor for costly and dangerous methane leaks at oil and gas production sites. As a primary component of natural gas, methane can leak during normal oil and gas production or through unknown leaks in production infrastructure. These leaks not only cost oil and gas comp ... read more