Industry News

Oil and Gas Index Shows Texas Producers Continuing To Recover

date December 13, 2017
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Oil and Gas Index Shows Texas Producers Continuing To Recover

Oil Man Magazine | Staff According to the Texas Petro Index, Texas should anticipate a record volume of crude oil during 2018. “Crude oil prices in Texas have been the essence of stability for more […]

U.S. Drilling Permits Could Surge In December If Oil Stays Elevated, Evercore Says

date December 12, 2017
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U.S. Drilling Permits Could Surge In December If Oil Stays Elevated, Evercore Says

Houston Chronicle | Collin Eaton The number of working U.S. drilling rigs are anticipated to increase into the first quarter of 2018 after this year’s industry rebound. If crude prices remain elevated, oil companies could […]

Oil Prices Rise on Extended Market Optimism

date December 11, 2017
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Oil Prices Rise on Extended Market Optimism

UPI | Daniel J. Graeber After the brief slump in November, oil prices are gaining again and are expected to rise going into 2018. Crude oil prices continued to show modest gains in early Monday […]

Oil Prices Rise on Extended Market Optimism

date December 11, 2017
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Oil Prices Rise on Extended Market Optimism

Bloomberg | Ben Sharples and Alex Longley Oil prices have risen and the rig count has increased due to market optimism for 2018. Oil held steady as U.S. drilling expanded and two OPEC nations signaled […]

Drilling Rig Count Rises to Kick Off December

date December 8, 2017
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Drilling Rig Count Rises to Kick Off December

Houston Chronicle | Jordan Blum The total U.S. rig count is now up to 931 rigs, up from the all-time low of 404 in May 2016. Oil drilling activity continues to pick up with rigs […]

Jobs: Southern Employment Growth Passes West as Fastest in U.S.

date December 8, 2017
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Jobs: Southern Employment Growth Passes West as Fastest in U.S.

USA Today | Paul Davidson Due to the rebounding oil and gas industry, Southern employment numbers have surged and are now ahead the West. The region is benefiting from lower housing costs, fewer taxes and […]

Goldman Raises 2018 Oil Price Forecast on Robust OPEC Commitment

date December 5, 2017
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Goldman Raises 2018 Oil Price Forecast on Robust OPEC Commitment

CNBC | Sam Meredith Oil prices are expected to rise in 2018, according to Goldman Sachs. A stronger than anticipated OPEC-led commitment to extend production cuts will support prices through 2018, according to analysts at […]

Oil Steadies Near $57 a Barrel 

date December 5, 2017
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Oil Steadies Near $57 a Barrel 

Bloomberg | Grant Smith Since OPEC’s decision to extend output curbs through 2018 last week, U.S. shale drillers are more confident and are investing more in production. Oil steadied near $57 a barrel as traders […]

U.S. Crude Finishes 0.26% Higher As Investors Anticipate Drop in Supply

date December 4, 2017
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U.S. Crude Finishes 0.26% Higher As Investors Anticipate Drop in Supply

CNBC | Staff Morgan Stanley analysts expect that demand will outpace supply in 2018, with supply growth primarily coming from the U.S.   Oil edged higher on Tuesday, supported by strong demand, expectations of a […]

Oil Rig Count Rises After OPEC Deal Extension

date December 1, 2017
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Oil Rig Count Rises After OPEC Deal Extension

OilPrice.com | Nick Cunningham As a result of OPEC’s deal extension, the U.S. rig count rose by 6 and prices are expected to rise. A day after OPEC extended the already-extended production cut deal to […]