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texas

Other News

In the heart of Texas oil patch, it’s gas that’s taking off

The oiliest county in Texas has seen its new natural gas production capacity more than double as drillers home in on their most profitable acreage. The peak output rate from new gas wells in Karnes County has surged 134 percent since January, estimates from Drillinginfo show. The only other county in Texas’s Eagle Ford shale patch where new gas capacity’s gaining is Live Oak, about 50 miles southwest of Karnes, the Austin-based energy data provider said. Gas producers are focusing on the most prolific parts of their plays as they grapple with the worst price collapse since 2008, and Karnes County has long been a sweet spot in Texas’s Eagle Ford formation. The 20,000-square-mile shale play supplies about one-sixth of the nation’s crude.

People

Tributes paid to Texan investor who helped oil family make $5billion fortune

A Texan investor who helped the Bass family turn a $50mllion oil inheritance into a $5billion fortune has died. Richard Rainwater had been diagnosed with progressive supranuclear palsy, a degenerative brain disease,in 2009. The 71-year-old was known for looking for industries that were out of favour and seeking out partners he could back to form companies to bet on a recovery. The father-of-three passed away in Fort Worth, Texas, on Sunday.

Oil & Gas

Sanchez Energy sells assets in $345million deal

Sanchez Energy will sell off a number of assets in the US in a $345million deal. The deal will see Sanchez Production Partners acquire and operate certain pipeline, gathering and compression assets located in the Western part of its Catarina asset in the Eagle Ford Shale in South Texas. The proceeds from the Western Catarina Divestiture will be used to further enhance Sanchez’s Energy’s liquidity position which is expected to enable the company to pursue growth opportunities through asset acquisitions.

Oil & Gas

ROVOP wins £2.5million worth of new contracts

ROVOP has won more than £2.5million worth of new contract wins in the last month across the oil, gas and offshore wind markets. The Aberdeen company said the contracts had been netted from both its office in the city as well as its Houston base. The work scopes for the projects, which extend into the third quarter of next year, include inspection, repair and maintenance (IRM) on several major North Sea operators' platforms.

Americas

Storm Bill threatens Texas with floods as oil workers evacuated

Tropical Storm Bill formed in the Gulf of Mexico, leaving Texas bracing for another round of flooding in less than a month. Bill, which prompted some energy companies to evacuate non- essential personnel earlier, has sustained top wind speeds of 50 miles per hour (80 kilometers per hour), the National Hurricane Center said in an 11 p.m. New York time advisory. It was located about 155 miles south-southeast of Galveston, Texas, moving northwest at a speed of 12 mph. Tropical storm warnings were in effect from Baffin Bay to High Island, Texas, the Miami-based agency said.

Americas

Texas oil patches brace for more rains, possible floods

Texas oilfields could see strong rains and thunderstorms later this week, though they were spared the heaviest flooding that struck central and eastern Texas over the Memorial Day weekend, the National Weather Service said on Tuesday.

Oil & Gas

Nostra Terra lands Texas venture

Nostra Terra Oil & Gas has acquired a new venture in the south Texas, with a  minority interest in the San Miguel prospect. The area spans 35,000 acres and is said to have similar characteristics as the Don Pedro project, where last month the company also gained a 1% stake. The San Miguel project has also already been the subject of extensive regional mapping and it is the subject of ongoing drilling work.

Oil & Gas

Texas landmen left out of work as oil patch boom times go bust

Thousands of Texans who prowled county courthouses, poring over dusty deeds and maps to cash in on the biggest oil boom in decades, are seeing their work go bust. Land managers, or landmen as they’re known, are part of a once dying oil patch profession resurrected when production soared. With the price of crude close to a six-year low of about $46 a barrel, less than half what it was nine months ago, they’re among the first to be hit by an energy-industry rout cascading through the economy. “Almost all the landmen I know have had to take either a serious pay cut, or are working part time or laid off,” said Gates Mueller, 29, an independent landman in San Antonio who lost his job in December. Just about every facet of the US oil-and-gas industry is being affected by the market’s slide, from pipeline welding to truck driving to geological exploration.

Opinion

Opinion: Why Boone Pickens isn’t worried about oil prices

DALLAS — Amid all the pessimism surrounding the plunge in oil prices since mid-2014 and the havoc it has unleashed on the industry, there’s a sense of calm in the sprawling conference room just north of downtown Dallas. I’m sitting next to the legendary Texas oilman T. Boone Pickens, who doesn’t seem worried at all. Ask Pickens what’s going to happen with oil prices, and rattles off an optimistic scenario: The US rig count will drop to somewhere between 750 and 1,000 working rigs (currently, it’s at a five-year low of 1,192). Then, the market will balance off U.S. production and West Texas Intermediate crude will return to about $70 a barrel by year’s end.

Americas

Wood Group’s US branch to work on billion dollar Texas project

An Aberdeen-based oil and gas company's US branch will work with one of the world's largest petrochemical companies during their multi-billion dollar Texas expansion. Wood Group's Mustang's Automation and Control business unit is providing process control systems, detailed engineering, procurement and fabrications services for the huge project by ExxonMobil Chemical Company.