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Permian Shale News

RRC boosts safety for workers after concerns of rising cartel activity

David Porter is tired of waiting for the federal government to increase oil and gas worker’s safety near the border of Mexico. Today, the Texas Railroad Commission Chairman highlighted several policy changes to increase Commission inspection staff safety in pipeline areas in South Texas. “The federal government has been ineffective in preventing illegal activity along the border and with the ...

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The strike is over: Galveston Bay USW members head back to work

After nearly five months of the largest U.S. refinery and chemical worker strike in the past 35 years, United Steelworkers union members will return to work at Marathon Petroleum Corp.’s Galveston Bay Refinery. According to the Houston Chronicle, union members reached an agreement with the company and ratified a contract. The 1,200 workers on strike in Galveston Bay, who were ...

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Valero CEO enjoys $813 k in stock sales

Valero Energy Corp. Director Stephen Waters nabbed more than $300,000 through an inside trade of 5,000 shares of company stock last week. The San Antonio Journal reports that Waters still owns more than 13,000 shares of the company, totaling up to nearly $813,000 based off of the average stock sale price of $60.47. Octafinance released an investment report that suggests, ...

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Council grants Summit land extension

The Odessa City Council on Tuesday granted a request from Summit Power Group to extend a deal allowing the company to build a clean coal power plant near Penwell. The terms of that arrangement were set to expire on June 30, but Summit representative Laura Miller told economic development officials earlier this month they wanted to extend the deal through ...

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Report ranks New Mexico No. 1 for methane emissions, lost gas revenues

New Mexico Oil Well

A national environmental advocacy group says natural gas and the revenue associated with its production at oil and gas wells are wasted at high levels on federal and tribal lands throughout the Western United States, with New Mexico accounting for more waste than any other state. A report commissioned by the Environmental Defense Fund and compiled by the consulting firm ...

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Williams deal would hasten Energy Transfer’s Marcellus dominance

natural gas prices rise

HOUSTON, June 23 (Reuters) – Williams Companies Inc has spurned Energy Transfer Equity’s $48 billion takeover offer for now but a tie-up would give the company a dominant position in the fastest-growing natural gas market in the United States: the Northeast’s Marcellus Shale. The deal, which would be one of the largest pipeline acquisitions ever, also would give Energy Transfer ...

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Texas has suffered billions from oil price slump

We’ve seen the decimation of oil prices, most notably the loss of jobs and the reduction of new wells or new exponential increases in production. In the pursuit of quantifying the damage, a recent report found that Texas petro-wealth is down $33 billion from 2014’s observations. Blackbeard Data just released its 2015 Petro-Wealth report. In its summary, Blackbeard states that ...

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Evacuations but no injuries after pipeline ruptures in Texas

CUERO, Texas — Authorities say no one is injured after a natural gas pipeline ruptured in rural South Texas, sparking a massive fire that prompted the evacuation of nearby homes. DeWitt County Emergency Operations Center spokeswoman Peggy Fonseca says an Energy Transfer Partners pipeline ruptured near Lindenau around 8 p.m. Sunday. Fonseca said early Monday that the gas had been ...

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SM Energy donates to ECISD robotics programs

SM Energy donated funds to Bonham Junior High School and Permian High School Wednesday for their robotics programs. The oil and gas exploration and production company presented a $10,000 check to Permian High School to kick off its robotics program next fall and $5,000 to Bonham Junior High School, said Connie Greenlee, a senior geological technician for the exploration group ...

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