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Texas leases more land, but gets lower prices amid oil slump

January 18, 2017

AUSTIN (AP) — The demand to lease Texas’ publicly held land for energy exploration has increased since last summer, despite low oil prices — but it generated lower average prices.

Land Commissioner George P. Bush announced Tuesday that his office had auctioned leases for about 14,000 acres.

That yielded around $84 million, or an average of less than $5,900 per acre, for the Permanent School Fund, which helps cover some public education costs.…

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Army plans Dakota Access oil pipeline environmental study

January 18, 2017

BISMARCK, N.D. (AP) — The Army says it’s planning to study the potential environmental impact of routing the $3.8 billion Dakota Access pipeline under the Missouri River in North Dakota, although a judge could stall the study.

The Army published a notice in the Federal Register Wednesday of its intent to prepare an environmental impact statement on the Lake Oahe crossing.…

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Railroad Commission of Texas Streamlines Oil, Gas Well Reporting

January 12, 2017

Process Makes Well Log Information More Accessible to Public

AUSTIN – As part of the Railroad Commission of Texas’ commitment to increasing efficiency and transparency through the modernization of its Information Technology systems, oil and gas producers can now file well log data electronically. Because the Commission now has the technology to accept well log information electronically, operators will no longer be required to print this information and submit paper logs.…

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SE New Mexico Continues to Lead Permian Basin in Oil Production

January 4, 2017

HOBBS, N.M. (AP) — The latest data from two state agencies shows that a pair of New Mexico counties continues to lead others in the Permian Basin in oil and gas production.

Data from Texas and New Mexico state agencies show Lea County leads the Permian Basin in oil while Eddy County tops in natural gas, the Hobbs News-Sun reports (https://goo.gl/qY4s7b).…

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Activists to open oil drilling protest camp near Balmorhea

December 29, 2016

TOYAHVALE (AP) — Another protest camp looks to open in West Texas, making at least two in the high desert south of Midland, the state’s oil-and-gas capital.

Activists began working three weeks ago on the first, near Alpine, to protest Dallas-based Energy Transfer Partners’ Trans-Pecos gas pipeline, which will run from the busy Permian Basin to Mexico.…

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Oil caps longest run of gains in seven years as OPEC cuts near

December 29, 2016

NEW YORK (Bloomburg) — Oil rose for an eighth straight session, capping the longest stretch of gains in seven years as optimism mounts that major producers will make good on output-cut pledges in January.

West Texas Intermediate futures closed at the highest in 17 months. Iraqi Oil Minister Jabbar al-Luaibi said his country was committed to cutting output by 200,000 to 210,000 barrels a day from the beginning of next month, Kuwait’s state-run news agency KUNA reported.…

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US rig count up 13 this week to 637; Texas adds 14

December 17, 2016

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 13 this week to 637.

A year ago, 709 rigs were active. Depressed energy prices have curtailed exploration, although the rig count has been rising in recent weeks.

Houston oilfield services company Baker Hughes Inc.…

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Gaines 12th in Active Number of Producing Wells in Texas

December 12, 2016

The number of active, regular producing oil wells within Gaines County dropped by 16 between the months of February 2016 and September, according to recent information released by the Texas Railroad Commission.

In September’s report, the RRC reported Gaines County had 3,916 regular producing oil wells within the county, which was down from 3,932 reported by the state agency in a February report.…

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US rig count up 27 this week to 624; Texas adds 17

December 9, 2016

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 27 this week to 624.

A year ago, 709 rigs were active. Depressed energy prices have curtailed exploration, although the rig count has been rising in recent weeks.

Houston oilfield services company Baker Hughes Inc.…

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OPEC cuts will have a muted effect on consumers

December 1, 2016

DALLAS (AP) — OPEC’s decision to cut production gave an immediate boost to oil prices, but the impact on consumers and the U.S. economy is likely to be more modest and gradual.

The cartel agreed Wednesday to cut output by 1.2 million barrels a day, reversing a strategy that produced lower oil prices and pain for U.S.…

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