News and Media
RRC continues to exceed well-plugging targets
Mella McEwen, MRT.com/Midland Reporter-Telegram
April 30, 2021Updated: May 3, 2021 9:55 a.m.
Tasked with carrying out the state’s well-plugging program, the Railroad Commission is again exceeding expectations.
The agency says it is on track to exceed the target of plugging 1,400 wells this fiscal year, set by the Texas Legislature. This would make the fifth consecutive year the agency has exceeded the target set by the legislature.
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Bank Of America: Brent Will Recover To $60 In H1 2021
By Irina Slav - Aug 17, 2020, 9:00 AM CDT
Bank of America expects oil prices to recover to $60 a barrel for Brent crude in the first half of next year thanks to shrinking global inventories and prices improving faster than previously expected.
Oil Prices Hit Four-Month High On Vaccine Hopes
By Tsvetana Paraskova - Jul 21, 2020, 11:00 AM CDT
Oil prices surged early on Tuesday to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial and the European Union reaching a historic stimulus package deal after five days of marathon talks.
As of 10:37 a.m. EDT on Tuesday, WTI Crude prices were surging by 3.41 percent at $42.20, while Brent Crude prices were rising by 3.28 percent on the day to $44.69.
Oil Soars On Bullish EIA Inventory Report
A week after it served a much-needed boost to markets with a crude oil inventory draw, today the Energy Information Administration strengthened the mood by reporting an oil inventory draw of 5 million barrels for the week to May 15.
Oil Jumps 11% On Signs Of Demand Recovery
By Tsvetana Paraskova - May 18, 2020, 10:00 AM CDT Join Our Community
U.S. benchmark oil prices surged by 11 percent early on Monday to a two-month high of over $32 a barrel amid signs of demand recovery and accelerated production cuts from all oil producers, making a repeat of last month’s negative WTI Crude prices a day before expiry increasingly unlikely.
North American oil producers slash output faster than OPEC skeptics expected
By Jessica Resnick-Ault
NEW YORK (Reuters) - North American oil companies have slashed production faster than skeptical OPEC officials and industry analysts expected, on course to cut roughly 1.7 million barrels per day by the end of June, according to a Reuters analysis of U.S. state and company data.
Oil companies warned about false Railroad Commission inspectors
Authorities and industry groups are warning oil companies warned about people falsely claiming to be inspectors with the Railroad Commission of Texas, the state agency that regulates the oil and natural gas industry.