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RRC: Gaines Oil Wells Produce 1.86M Barrels in June

August 31, 2017

Just over 1.86 million barrels of oil was produced from Gaines County wells during the month of June 2017, according to preliminary numbers released by the Texas Railroad Commission earlier this week.

Year-to-date, Gaines County has produced 11.48 million barrels of oil for the 2017 calendar year, which is some 1.71 million barrels behind the 2016 calendar year’s adjusted total of 13.19 million barrels through the month of July 2016.…

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Gasoline prices rise as largest U.S. refinery shuts down

August 31, 2017

HOUSTON (AP) — Gasoline prices are expected to rise as floodwaters caused by Tropical Storm Harvey force the nation’s largest oil refinery in Port Arthur to shut down Wednesday.

The refinery, owned by Saudi Arabia’s Motiva Enterprises, churns through more than 600,000 barrels of crude oil a day to produce gasoline and other petrochemicals.…

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Harvey could have deep impact on Texas oil, US economy

August 28, 2017

Massive flooding caused by Tropical Storm Harvey along Texas’ refinery-rich coast could have long-standing and far-reaching consequences for the state’s oil and gas industry and the larger U.S. economy. The storm’s remnants left much of Houston underwater on Sunday, and the National Weather Service says it’s not over yet: Some parts of Houston and its suburbs could end up with as much as 50 inches (1.3 meters) of rain.…

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Oilfield sand miners encroaching on threatened West Texas lizard

August 15, 2017

A voluntary plan the state of Texas crafted to protect a tiny West Texas reptile — and avoid its listing as an endangered species — is facing a significant threat from companies that mine the fine-grain sand oil producers use for hydraulic fracturing.  

That’s the central message of a letter Texas Comptroller Glenn Hegar’s office sent late last week to the U.S.…

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Occidental Ties Compensation to Plan to Break-Even at $40 a Barrel

August 4, 2017

HOUSTON (AP) — Occidental Petroleum Corp. has tied company-wide compensation to a plan to bring costs low enough to break even at $40 a barrel oil, CEO Vicki Hollub said Thursday.

After reshuffling its oil properties and pouring cash into the Permian Basin, the Houston oil company now has the most lucrative assets it has ever owned in its 100-year history, she said in a story produced by FuelFix.com, an online publication of the Houston Chronicle.…

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Fracturing-related water issues draw attention in West Texas

August 3, 2017

VAN HORN (AP) — A West Texas land baron and oilman is on the verge of pumping 5.4 million gallons of water a day from far under the desert mountains here and piping it 60 miles to the nation’s most bountiful oil field, the Permian Basin, where hydraulic fracturing has fueled a renaissance of U.S.…

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Occidental Takes Over Hess’ Seminole, Permian Basin Assets

August 1, 2017

Tuesday marked a historical day in the Seminole community, as one petroleum giant transferred eight decades of history and developed assets within Seminole and Gaines County to the hands of another large oil corporation.

A move which completed a $600 million acquisition which was announced in mid-June.

On Tuesday, Occidental Petroleum Corp.…

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Gaines Wells Produce 1.96 Million Barrels in May

July 24, 2017

May oil production within Gaines County reached close to the 2 million barrel mark, however, remained on average for the county’s production thus far for the 2017 calendar year, according to the latest report from the Texas Railroad Commission.

Gaines County, in May, had a preliminary total production of 1.964 million barrels of oil, which was up from April’s adjusted production total of 1.901 million barrels, but less than March’s 1.977 million barrels, which currently serves as the high month for the 2017 calendar year.…

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4 Oil Rigs Active in Gaines Co. Last Week; US Total at 952

July 17, 2017

HOUSTON — Four active drilling rigs were situated within the Gaines County boundaries last week, according to the latest report from oilfield insider Baker Hughes.

Two vertical oil drilling rigs, one horizontal and a directional rig were all operating within Gaines County, with their projected well depths ranging from 5,000 to 15,000 feet below the surface.…

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Oil: Gaines Wells Produce 1.88M Barrels in April

June 29, 2017

Gaines County wells produced over 1.88 million barrels of oil during the month of April 2017, according to preliminary production figures released Wednesday by the Texas Railroad Commission.

April’s preliminary total of 1,888,764 barrels comes one month after Gaines County wells produced 1.97 million barrels of oil in the month March.…

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