Mexico’s state oil company said Tuesday that it is tripling the reserve estimates for its biggest onshore oil and gas discovery in 25 years. Pemex Chief Executive Carlos Trevino said exploration results at its Ixachi exploratory wells indicate the light oil and natural gas discovery near the eastern […]
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Welcome to the Oilfield1 Rig Report. Providing you the latest U.S. oil prices, rig counts & more. Weekly Sponsor: Oilfield1 Shop Current U.S. Oil Price: $51.71 US Rig Count: 1208 (+8) Permit count: 1202 (+185) Visit Oilfield1 Shop
The Houston oil and gas company Sanchez Energy is preparing to drill 13 new wells in a natural gas-rich region of the Eagle Ford Shale just as its stock started trading below $1 per share and natural gas prices hit near-three-year highs. The Railroad Commission of Texas issued […]
The map lays out OPEC’s nightmare in graphic form. An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a […]
Seventeen energy companies operating in West Texas’ booming Permian Basin said they’re pledging more than $100 million to help improve roads, schools, health care, housing and workforce training. Visit Oilfield1 Shop The mostly rural region in West Texas and southeastern New Mexico was upended by the oil-drilling resurgence […]
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The world will increasingly depend on U.S. shale production to supply the crude oil needed to meet modest global demand growth, the International Energy Agency said in a new report. Visit Oilfield1 Shop The World Energy Outlook report focuses on the shift from oil to electricity to power […]
Houston-based Phillips 66 said it is planning two oil pipeline systems that would stretch from North Dakota and Oklahoma to the Texas Gulf Coast. Phillips 66 said the proposed Liberty Pipeline would stretch from the Bakken Shale and the Rockies to Corpus Christi, presumably to take oil from […]
The Sutton County (Sonora TX area) Sheriffs Department has confirmed a pipeline explosion this evening in Texas. It is reported on their Facebook page that there are two known injuries at this time, one major. *this is a developing story, we will keep you posted Visit Oilfield1 Shop
