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Tag Archives: texas oil and gas

Texas, New Mexico oil producers push for import limits

ALBUQUERQUE, N.M. (AP) — Oil drilling companies and royalty owners from the Texas Panhandle to New Mexico’s stretch of the Permian Basin are embarking on a grass-roots campaign to limit foreign oil imports, salvaging what they say is a major sector of the U.S. economy. “American oil is competing against a cartel of government operators which has a stated initiative ...

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‘Hard choices’ in Texas as oil bust, costly lawsuits collide

AUSTIN, Texas (AP) — The oil bust already shrinking Texas’ coffers is colliding with the possibility of the state getting socked with multibillion-dollar verdicts in major lawsuits, budget officials said Tuesday, which could test years of Republican resistance to cracking the state’s emergency piggybank. No lawmakers or budget-crunchers raised the potential of spending cuts or a shortfall when the Legislature ...

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Keane Group triples fracking capacity

Keane Group triples fracking capacity

Keane Group, a Texas well completion services company, tripled its hydraulic fracturing capacity by agreeing to a $247 million deal with Canada-based Trican Well Service on Tuesday. The Houston-based company acquired the majority of Trican Well Service’s assets in the United States. Keane Group purchased the assets with $200 million in cash plus a minority interest stake in Keane Group. ...

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Economists say Houston can weather oil downturn

HOUSTON — Gone are the lavish lunches with bottles of wine and luxury cars rolling off the lots, but economists say Houston should weather the latest downturn in oil. The local economy is showing strains entering the second year of the worst oil downturn in decades but it’s not collapsing the same way as previous oil busts, The Houston Chronicle ...

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2015 was a roller coaster ride for energy

It has been a rough-and-tumble ride for the oil and gas industry in 2015 as prices have continued to search for their “bottom” all year. Even as the New Year looms, prices are sitting around $37 a barrel, their lowest spot since the Great Recession of 2009, according to the DailyFX Market News and Analysis website. Oversupply has wracked oil ...

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