Texas – Oil & Gas 360

Nostra Terra gives update on its Texas oil and gas production, operations

November 12, 2024

(World Oil) – Nostra Terra, an international oil and gas exploration and production company focused on its Pine Mills producing asset in Texas, U.S., has provided a production and operations update. Highlights Phase 1 workover program complete Production increased at Pine Mills Field by an average of 30 bopd – 60% Increase Company oil production is averaging approximately 120 bopd net,

Exxon wins grant for largest U.S. offshore carbon storage site in Texas

October 11, 2024

(World Oil) – Exxon Mobil Corp. has won the right to pump carbon dioxide beneath Texas state waters in the Gulf of Mexico, in what will be the largest concession of its kind in the U.S. The lease granted by the Texas General Land Office will cover 271,000 acres and allow Exxon to bury emissions in geologic rock formations under

Texas denies state funding to 1.3 GW natural gas plant project

September 6, 2024

Oil Price Texas regulators have denied state funding to a proposed 1.3-gigawatt natural gas-fired power plant, due to the applicant failing to meet due diligence, days after shortlisting the project as eligible to receive low-interest rate loans from the Texas Energy Fund. The Public Utility Commission of Texas (PUCT) denied the application from NextEra and Aegle Power for the In-ERCOT Generation Loan

Permian, Bakken drilling rigs spur “record” U.S. oil production forecast on longer laterals

August 29, 2024

World Oil (Bloomberg) – Oil rigs in the Permian and Bakken basins of the U.S. are producing at the most efficient rates in about 13 years, leading Macquarie Group analysts to predict the country’s crude production will top most consensus views. Rigs in the Midland basin of Texas and New Mexico drilled an average of 47 miles of horizontal lateral

Diversified to acquire complementary, high-quality, low-decline producing assets

July 10, 2024

Oil and Gas 360 Publisher’s Note: Diversified Energy will be a presenter at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. Register to attend and book your room at the Westin Denver Downtown. Accretive Acquisition of Contiguous Operating Position BIRMINGHAM, AL / ACCESSWIRE / July 10, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) (“Diversified” or the “Company”) is pleased

Power outages hinder Hurricane Beryl recovery, delay oil infrastructure restarts

July 10, 2024

BOE Report About 1.7 million customers remained without power in Texas on Wednesday morning, two days after Hurricane Beryl made landfall, as progress to restore power was slow during the night, hampering efforts to quickly restart critical oil infrastructure. The storm made landfall as a Category 1 hurricane on Monday near the coastal town of Matagorda, about 100 miles (160

Oil prices slip after US crude hub escapes serious storm damage

July 9, 2024

Investing NEW YORK (Reuters) -Oil prices eased on Tuesday after traders learned that prolonged supply disruptions from Hurricane Beryl were unlikely after a U.S. oil-producing hub in Texas suffered less storm damage than feared. Brent futures for September delivery fell 31 cents to $85.44 a barrel by 11:17 a.m. EDT (1517 GMT). U.S. crude fell 23 cents to $82.10 per barrel. Although some

Texas LNG sells half of capacity from upcoming Brownsville facility following Biden’s LNG export ban overturning

July 3, 2024

World Oil (WO) – Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, LLC, has signed a non-binding Heads of Agreement (“HOA”) a long-term LNG free-on-board (“FOB”) sale and purchase agreement (“SPA”) for 0.5 MMtpa of LNG from Texas LNG. “This agreement positions Texas LNG on the verge of full sell out, and we look forward to finalizing our

States sue BOEM over “egregious” $7 billion decommissioning rule targeting small oil and gas companies

June 18, 2024

World Oil (WO) – Texas, Louisiana, and Mississippi have sued the U.S. government to block a proposed rule by the Biden administration that would require offshore oil and gas companies to provide nearly $7 billion in financial assurances for decommissioning old infrastructure. The decommissioning rule, targeting smaller companies lacking investment-grade ratings or sufficient proven reserves, supposedly “protects” taxpayers from covering

HighPeak Energy, Inc. and Priority Power announce commissioning of WildHorse Solar Farm

May 30, 2024

Oil and Gas 360 FORT WORTH, Texas and MIDLAND, Texas, May 30, 2024 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or “HPK”) (NASDAQ: HPK), a leading independent oil and natural gas company, has recently completed and commissioned a new solar facility, the WildHorse Solar Farm, in its Flat Top operating area. The WildHorse Solar Farm was developed and is owned

ExxonMobil to establish singular North American research and technology hub in Houston, Texas

May 7, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. plans to establish a single North American research and technology hub at its Houston headquarters, resulting in the closure of campuses in Clinton, New Jersey, and Sarnia in Ontario. The closures will affect about 700 employees, with the majority being offered roles in Houston, said Exxon spokeswoman Emily Mir. The moves will be

US power and natgas prices turn negative in Texas, California and Arizona

May 7, 2024

U.S. News U.S. spot power and natural gas prices turned negative in Texas, California and Arizona for Tuesday as pipeline maintenance trapped gas in the Permian Shale in West Texas amid low demand for energy and ample hydropower in the West. Negative prices signal there is too much power or gas being produced in a region. Energy firms can either

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