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Permian Shale News

Oil slump weighing on housing markets in Texas, North Dakota

There’s a dark side to those delightfully low gas prices: Housing markets are slumping in communities that were recently flush from the U.S. shale oil fracking boom. Home sales are down sharply this year in North Dakota and the West Texas cities of Midland and Odessa. Home sales have also slowed in El Paso, and, more recently, in Houston. The ...

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State regulators reject requests to toss out Keystone XL

PIERRE, S.D. — State regulators could make a decision as early as next month on whether to again approve the South Dakota portion of the Keystone XL pipeline. The state Public Utilities Commission denied requests Tuesday to throw out the pipeline project. Opponents argued that President Barack Obama killed the pipeline in November. William Taylor is an attorney for TransCanada ...

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Low oil and gas prices mean a daily struggle

FARMINGTON — This year has not been an easy one for local oil and gas companies and those providing support services. It’s been a year of layoffs and cutbacks without any change predicted for the immediate future. In April, ConocoPhillips announced local layoffs, followed by similar announcements from local yards like Halliburton on Main Street, and, most recently, Baker Hughes ...

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Despite oil bust, Texas prepares more students for oil jobs

HOUSTON — The oil industry is mired in its latest bust, with thousands of jobs evaporating like flares flaming out over natural gas wells. But in Texas, education officials are preparing more young people for the oil patch, showing the state’s unshakeable commitment to the energy sector despite the employment uncertainties. The Houston school district is planning to expand its ...

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Struggling U.S. oil producers get credit lifeline amid downturn

NEW YORK – An autumn credit crunch was expected to hit many independent U.S. oil producers, starving the industry of billions of dollars and further denting company budgets and drilling plans. But banks that adjust their loans to energy companies every six months based on the oil price and volumes of reserves were more lenient than many expected this time, ...

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Light Tower Rentals, Inc. Promotes Three Executives to Support Power Generation Product Lines

Light Tower Rentals, Inc. has promoted three employees to increase their focus on Power Generation, specifically Natural Gas Generators, and emphasize the company’s commitment to excellent service. Odessa, Texas, November 10, 2015 — Light Tower Rentals (LTR), specializing in specialty rental equipment in the oil and gas sector, recently promoted Jon Galle to Senior Product Manager, Production Power. The promotion ...

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Experts: Condensate, natural gas will carry the region

Tax revenues would soar and scores of jobs would open if the nation’s decadeslong crude oil exports ban is overturned, energy and economic experts said Wednesday. Panelists for the inaugural State of Energy luncheon Wednesday said the Corpus Christi area has been less affected by the downturn in oil and gas prices than Houston and other energy hubs the past ...

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Stuck in the mud? Safe-T-Pull

Imagine this: It’s one of those cold, wet, late-fall evenings in Western North Dakota. The weather conditions are worsening, but you promised your most important client you’d make a last-minute fuel oil delivery to his rig. “Just one more and I can call it a day,” you tell yourself, relaxing to the rhythm of the rain. Then it happens. An ...

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Lawsuit challenging Denton drilling ordinances is dropped

A lawsuit filed by the oil and gas industry hours after Denton voters approved the state’s first ban against hydraulic fracturing has been dismissed. City officials and the Texas Oil and Gas Association announced Thursday that state District Judge Sherry Shipman had signed an agreed order Sept. 4 to dismiss the suit. In the suit, which was filed the morning ...

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Royalty checks shrivel in Texas as oil, gas prices tumble

DALLAS — Once-lucrative royalty checks for mineral rights owners across Texas are shriveling as oil and natural gas prices tumble. U.S. crude prices ended the week falling after Goldman Sachs said a global price of oil could push prices as low as $20 a barrel. Now land owners who leased their property to drillers during the oil and gas boom ...

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