Oil and Gas
Texas Oil and Gas Production Records Tumbled in 2023
Texas’ major energy industry reached new peaks last year with records set for both oil and gas production.
Preparations Help Oil and Gas Industry Get Through Dangerous Wildfires
The Texas Forest Service announced dangerous wildfires in the Panhandle were finally 100% contained, thanks to the tireless efforts of state and local emergency crews.
TXOGA Announces Senior Staff Promotions
Texas Oil & Gas Association (TXOGA) President Todd Staples announced on April 5 the promotions of senior staff, naming Shana Joyce and Tulsi Oberbeck as Vice Presidents of Government and Regulatory Affairs. Joyce and Oberbeck have served as directors in these positions since 2018.
Dallas-Based Vivakor Acquires Endeavor Entities for $120 Million
Vivakor has signed a definitive agreement to acquire the Endeavor Entities, which operate in the midstream segment of the oil industry, for $120 million.
Expansion of Oilfield Workforce Continues
High Demand for Welders, Truck Drivers, and Diesel Technicians Shell PLC, a U.K.-based supermajor with its U.S. headquarters in Houston, has decided to adjust its climate targets creating the expansion of the oilfield industry. The company has eliminated its 2035 carbon intensity reduction goals and has introduced new objectives, such as reducing some of its…
EOG Resources Trims 2024 Drilling Investment, Ups Production
EOG Resources Inc., headquartered in Houston, has announced its intention to allocate $4.3 billion towards drilling and completing 600 wells in its premium domestic areas in 2024, which include the Eagle Ford and Permian basins in Texas. This investment is part of EOG’s planned capital expenditures of $6 billion to $6.4 billion for 2024, to…
Texas Regulator Supports GOP Vote to Repeal Biden’s Export Ban
In January 2024, the Biden Administration announced a pause on permits for new liquefied natural gas (LNG) export projects. In response to this pause, it was announced that the U.S. House of Representatives would be voting on H.R. 7176, the Unlocking Domestic LNG Potential Act (Rep. Pflueger, TX-11), which would repeal the Biden Administration’s ban…
ExxonMobil Sues Investors Pushing for Swift Climate Measures
ExxonMobil is currently facing numerous lawsuits from states and localities, accusing the company of deceiving the public for many years regarding its involvement in climate change and the risks associated with burning fossil fuels. However, the company has decided to take a proactive approach by filing a lawsuit against investors who are urging the company…
Texas Upstream Oil and Gas Employment Growth
Data recently released by the Texas Workforce Commission indicates a sustained growth trend in upstream oil and gas employment in Texas. In December, the sector added 3,100 jobs, contributing to a substantial increase of 15,300 jobs throughout 2023. The Texas Oil & Gas Association (TXOGA) highlighted that since the low point in September 2020, months…
Texas Continues to See Growth in Upstream Oil and Gas Employment
Data recently released by the Texas Workforce Commission indicates a sustained growth trend in upstream oil and gas employment in Texas. In December, the sector added 3,100 jobs, contributing to a substantial increase of 15,300 jobs throughout 2023. The Texas Oil & Gas Association (TXOGA) highlighted that since the low point in September 2020, months…
Sunoco’s $7.3 Billion Acquisition of NuStar Energy in San Antonio: What You Need to Know
Sunoco LP, based in Dallas, is set to acquire NuStar Energy LP, an oil pipeline and terminal operator, in a substantial $7.3 billion deal. The acquisition aims to diversify Sunoco’s business and secure a crucial segment of its supply chain. By incorporating NuStar’s existing pipelines and terminals for fuel-related products, including oil and ammonia in…
Permian Basin Oil and Gas Industry Contributes Record $26.3B in State and Local Taxes, Royalties
Oil witnessed a decline in a volatile session as traders assessed the escalating military activities in the Middle East and the anticipation of increased supplies. The US and UK conducted additional airstrikes against the Houthis on Monday to thwart potential attacks on commercial vessels in the Red Sea. Despite heightened geopolitical tensions, West Texas Intermediate…
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