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Sen. Heitkamp Speaks at Williston Economic Development Conference on Record U.S. Oil Exports

Heidi Heitkamp, methane rule

U.S. Senator Heidi Heitkamp addressed the Williston Economic Development Corporation’s conference with energy industry and community leaders from Midland, TX, to discuss issues in the oil and gas sector. She also talked about her work to successfully reach a deal to lift the 40 year-old ban on exporting domestic oil, which has led to record U.S. oil exports in recent ...

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Report: Oil, gas helps fund Texas schools

A report by North Texans for Natural Gas explains how the oil and natural gas industry contributes more than $4 billion per year to the Texas education system. Texas schools benefit from oil and gas royalties that are paid into the state’s Permanent School Fund and the Permanent University Fund. Local independent school districts also benefit from property taxes paid ...

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Energy producers pump up economy in 2014 but plunge feared in 2015

The natural gas industry boosted economic growth last year in Western Pennsylvania, where gross domestic product increased at the fastest pace in five years, according to Commerce Department data released Wednesday. The value of goods and services produced in the seven-county Pittsburgh region grew 2.9 percent in 2014, ranking the region 77th among 381 metro areas in terms of its ...

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Mom and pop businesses feel ripple effect of downturn

Cat Well Service’s workover rigs drilled through a freshly cemented well north of Midland in September, the sort of well maintenance work that many of private oilfield businesses in Odessa and Midland rely on. This work grows increasingly scarce and competitive in the ongoing downturn. As oil companies began idling drilling rigs this year, the amount of workover rigs plummeted, ...

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TxDOT approves $22.8 million in roadway improvements

The Texas Transportation Commission approved six projects worth $22.8 million for the 12-county Odessa District, including two funded by Proposition 1, according to a Monday release from the Texas Department of Transportation. The six projects approved from the July bid openings are: — A project to resurface approximately 2.5 miles of West Loop 338 from Kermit Highway going north was ...

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Linn Energy seals sales and equity deals

Having struggled through expenditure cuts and debt this year, Linn Energy plans to sell off its remaining assets in the Permian Basin. FuelFix reports the Houston-based company’s assets in Howard County were purchased for $281 million by an unnamed buyer. The assets purchased include about 6,400 acres of Midland for potential Wolfcamp drilling and production from 133 nearby wells. The ...

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SM Energy donates to ECISD robotics programs

SM Energy donated funds to Bonham Junior High School and Permian High School Wednesday for their robotics programs. The oil and gas exploration and production company presented a $10,000 check to Permian High School to kick off its robotics program next fall and $5,000 to Bonham Junior High School, said Connie Greenlee, a senior geological technician for the exploration group ...

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Bankers at Midland Energy Expo see more Permian mergers, acquisition amid downturn

Midland Energy Expo

The oil and gas downturn has yet to bring the wave of mergers and acquisitions that traditionally follow a dramatic drop in oil prices, but a pair of investment bankers visiting Midland on Tuesday predicted more deals in the offing as the ongoing slump separates the troubled from the survivors. The focus of the bankers’ lecture at the Zachry Publication’s ...

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Rig drop slightest in months

Permian Basin producers last week idled far fewer rigs than in weeks past, even as low oil prices continue to curb industry activity, according to the Friday rig count from Baker Hughes. The Permian Basin shed two rigs drilling for oil and gas, leaving 290 running and renewing hope that a bottom is near. The rig count Friday is almost ...

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