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Dallas Fed: Energy indicators see continued increase

proven oil reserves

The most recent report from the Federal Reserve Bank of Dallas for June 2017 shows that many indicators for the oil and gas sector continued to increase in May. While WTI crude dropped slightly, production growth continues to stay strong, especially in the Permian basin. Below is a summary of the report from the Dallas Fed. For more details and graphs, be sure ...

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U.S. Silica plans Permian frac sand plant

frac sand, U.S. Silica

Frederick, Maryland-based U.S. Silica announced plans Monday to build a new frac sand mine and plant in West Texas to serve the Permian Basin. The Permian has been growing steadily despite the recent oil slump, supported by increased production and recently discovered oil reserves by the U.S. Geological Survey at the end of last year. The projected budget for the ...

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Coal dominates in Texas as energy source

texas wind energy,

According to the Electric Reliability Council of Texas, coal was the number one energy source for Texas in January, reports FuelFix. Coal provided nearly 36 percent of Texas’ energy, followed by natural gas at 30 percent and wind energy at 20 percent. Natural gas prices increased in January, which led to higher demand for the cheaper coal. Typically, natural gas is the dominant ...

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Halliburton hiring in West Texas

An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

According to FuelFix, Halliburton is set to hire 200 workers in the Permian Basin in West Texas and New Mexico. The Current-Argus reported that Halliburton spokeswoman Emily Mir said in late December there will be job opportunities throughout the Permian, including in Artesia. As the oil industry begins to see a small upswing, local businesses are crossing their fingers that ...

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Dallas Fed: Oil and Gas Activity Rises in Third Quarter

energy, 2016, year in review

Surveys and reports from the Federal Reserve Bank of Dallas are now available for the third quarter. The business activity index – the survey’s broadest measure of conditions facing Eleventh District energy firms – was up from 13.8 in the second quarter to 26.7. While the survey still shows weakness in both industry employment and production, it does show some ...

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Groups rekindle battle over lesser prairie chicken

lesser prairie chicken,

ALBUQUERQUE, N.M. (AP) — The fight over a grouse found in pockets across the Great Plains is far from over as industry and state officials worried Tuesday that relisting the lesser prairie chicken as a federally protected species could mean hundreds of millions of dollars in added costs for oil and gas developers, renewable energy companies and farmers. The lesser ...

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Apache may have struck big in West Texas

Apache, Texas oil discovery

DALLAS (AP) — A Houston driller is boasting of a big new oil and gas discovery in West Texas. Apache Corp. believes there could be 3 billion barrels of oil and 75 trillion cubic feet of natural gas in an area it calls Alpine High. The company announced its discovery Wednesday after two years of drilling in the largely undeveloped ...

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