Business Insider - Tue June 16, 2020
CEO: Crude Oil Prices Could Surge Over 90 Percent to $70
In a recent interview with Markets Insider, Canary Drilling Services CEO Dan Eberhart said that he thinks the U.S. oil market is headed for a "mini-supply shock" with U.S. oil prices braced to rise over 90 percent to $70 a barrel by the fall as the country has "over-cut production."Eberhart said, "When U.S....
Associated Press - Wed September 11, 2019
New Mexico Oil Drilling Causes Economic Boom
SANTA FE, N.M. (AP) An economic boom in southeast New Mexico has been attributed to skyrocketing oil production. The Albuquerque Journal reported on Aug. 16 that New Mexico's revenue exceeded projected levels allowing lawmakers to authorize a $663-million spending increase for the budget year that started in July....
Lori Tobias – CEG Correspondent - Tue July 16, 2019
ExxonMobil Expands Beaumont Plant, Increases Capacity
ExxonMobil has begun construction on a new crude unit at its Beaumont, Texas, refinery that will increase capacity by more than 65 percent, or 250,000 barrels a day. "This project is part of ExxonMobil's larger ‘Growing the Gulf' initiative, a series of refining and chemical expansion projects across Texas and Louisiana," said Emily Russell, ExxonMobil public and government affairs advisor....
Phillips 66 Partners - Tue July 16, 2019
New Pipelines to Connect U.S. Rockies, Cushing to Port of Corpus Christi
On June 10, 2019, Phillips 66 announced two separate 50/50 joint ventures to proceed with construction of two new pipelines, the Liberty Pipeline (with Bridger Pipeline LLC) and the Red Oak Pipeline (with Plains All American Pipeline)....
Associated Press - Wed June 26, 2019
Companies Propose $1.6B Oil Pipeline in N.D.
BISMARCK, N.D. (AP) Two companies are proposing a $1.6 billion pipeline to move North Dakota crude oil, making it the biggest such project in the state since the Dakota Access pipeline that sparked violent clashes between protesters and law enforcement in 2016 and 2017....
Link-Belt Cranes - Mon June 24, 2019
Link-Belt Cranes Work Overtime in Wolfcamp Shale
Wolfcamp and Bone Spring Formations of the Permian Basin in west Texas and New Mexico hold oil and gas reserves estimated at 46.3 billion barrels of oil. According to a fourth quarter 2018 U.S. Geological Society report, full production estimates through 2025 predict that by 2021 one in every six barrels of oil, globally, will come from the Permian Basin....
Susan Montoya Bryan – Associated Press - Wed June 05, 2019
Feds Delay Oil Leases Near Sacred Land
ALBUQUERQUE, N.M. (AP) U.S. Interior Secretary David Bernhardt has agreed to put off oil and gas leasing for a year on land that Native Americans consider sacred surrounding Chaco Culture National Historical Park in northwestern New Mexico....
ExxonMobil - Wed June 05, 2019
ExxonMobil Permian Development to Provide $64B in Benefits to New Mexico
ExxonMobil said a new study estimates the company's development of Permian Basin resources in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and providing increased funding for education, health and human services and infrastructure improvements....
Associated Press - Tue May 21, 2019
Howard Energy Announces Completion of Growth Projects in Delaware Basin
Howard Energy Partners (HEP) announced May 16 that it has completed construction on the majority of its previously-announced crude oil and natural gas gathering and processing infrastructure in the core of the Delaware Basin....
Associated Press - Wed April 24, 2019
Key New Mexico, Texas Oil Highways Receiving Upgrades
CARLSBAD, N.M. (AP) A key highway in southeastern New Mexico and another West Texas are getting much-needed upgrades to accommodate the rise in traffic from the region's oil and gas boom. In New Mexico, the state's Department of Transportation is working to renovate U.S....
