UPI |Daniel J. Graeber
Total drilling permits have almost doubled since 2016, which has contributed to the industry rebound.
Accounting for about half of all the active rigs in the United States, the energy regulator in Texas said total drilling permits nearly doubled from last year. The Railroad Commission of Texas, the state energy regulator, said it issued 1,011 original drilling permits last month, compared with the 631 issued in July 2016. Of those, 893 were for drilling new oil or natural gas wells. According to the U.S. Energy Information Administration, Texas shale is the most productive in the nation. Based on its latest drilling productivity report, the EIA expects production from the Permian shale basin to increase 2.5 percent from July for about 2.5 million barrels per day. Eagle Ford production would increase 2 percent to 1.38 million barrels per day if EIA forecasting is accurate.
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