Oil prices hit their high for the year on Wednesday as OPEC and Russia announced they would cancel their April meeting, effectively extending output cuts until their next formal meeting in June. Meanwhile, the Canadian province of Alberta is relaxing the production cap it imposed in January in an effort to prop up Canadian oil […]
The United States had 1,049 drilling rigs in operation at the end of last week – an increase of four from the prior week. Texas ended last week with 511 drilling rigs in operation. The Texas Railroad Commission issued 340 drilling permits last week to bring the 10-week rolling average to 292 drilling permits. Natural […]
According to a forecast published yesterday by the Energy Department’s statistics division, the United States – long beholden to foreign oil – is poised to become a net energy exporter starting next year. Thanks to the shale oil and natural gas boom, the U.S. will export more energy than it imports in 2020 for the […]
The EIA announced yesterday that U.S. crude inventories rose for the tenth week in a row last week. The steady build in U.S. crude stocks is partly due to seasonal refining maintenance, but domestic production has also surged to a record 11.7 million barrels a day. U.S. stockpiles sit at 450 million barrels – the […]
With 143,000 barrels of oil collected per day, the EIA reports that employment in the oil industry is on the rise. In fact, an estimated 178,000 Americans were employed in the oil and gas industry in 2017, according to the Bureau of Labour Statistics. However, most employees are not aware of what’s going on behind […]
Are you considering a career in the gas and oil industry that offers opportunities for growth and competitive wages? The natural gas industry is diverse and has various careers that differ in educational attainment and skill level. With the Shale oil and gas industry evolving rapidly, there’s a need to have skilled workmanship who can contribute […]
On February 22nd, our President, Omar Garcia visited Corpus Christi to speak at an event held by the League of United Latin American Citizens (LULAC). Garcia spoke about multitudes of topics the communities have voiced their concern over, primarily dealing with the oil and gas industry. Garcia began by thanking the audience and LULAC for the opportunity […]
Some great news came across our desk this week with a recent report conducted by Westwood Global Energy Group, via the SPE website. Here is an overview of the report: “Westwood recently made this projection in its US Drilling & Completion Market Forecast Q1 2018, a basin-by-basin outlook using data gathered by the Energent Group, a market […]
Oil prices have been on the rebound lately. Earlier this month, prices for West Texas Intermediate (WTI) dipped just below $60, but as of today the price is hovering at a strong $63.50. Brent Crude is just above $67.00 which is just below our high for the past year! This is great news, but it […]
Everyone in America is aware of the tax reform the GOP-lead congress passed late last month. What you might not know is the extent this will benefit the gas and oil industry. Historically, energy companies have had a higher tax burden, which means they will likely experience a greater benefit from this tax bill than […]
