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Texas drilling permits down in Aug

Drilling permits have plummeted in Texas from the same time one year ago according to numbers reported by the Railroad Commission of Texas (RRC).

According to the RRC, the regulation authority issued a total of 864 original drilling permits in August 2015 compared to 2,440 in August 2014. The August total included 730 permits to drill new oil or gas wells, 14 to re-enter plugged well bores, and 120 for re-completions of existing well bores.

In August 2015, Commission staff processed 1,113 oil, 172 gas, 36 injection and 11 other completions compared to 2,157 oil, 303 gas, 92 injection and four other completions in August 2014.  In addition, total well completions for 2015 year to date are 14,665, down from 20,657 recorded during the same period in 2014.

Last week, Baker Hughes Inc. reported that the Texas rig count as of September 11 was 366, representing about 43 percent of all active rigs in the United States. Overall, Baker Hughes reported 848 rigs were in operation in the nation. For comparison, the U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999. Last year at this time, 1,931 rigs were active.

In related news, RRC holds confidence in the future of Texas energy production.

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