A pair of pipelines intended to carry crude oil and natural gas liquids from the Permian Basin to the Gulf Coast for export cleared a federal hurdle this month, receiving a nationwide permit from the U.S. Army Corps of Engineers.
The move signified that all federal and state regulatory agencies approved of final construction for the lines, according to a news release from EPIC Midstream Holdings.
“Given the growth that we’ve seen, the need for these investments is tremendous,” said Robert McEntyre, spokesman for the New Mexico Oil and Gas Association. “It continues to grow. This is absolutely part of the solution to remove bottlenecks.”Read more
Yes, oil prices go up and down — lately mostly down — but the "Help Wanted" sign is out. There's a generation of workers nearing retirement, and the pipeline of talent needs filling.
"If we look at the pipeline, it's pretty dry," says Katie Mehnert, dressed in a pink safety suit in the middle of a massive Shell refinery and chemical plant in Deer Park, Texas, outside Houston.
Mehnert is CEO of Pink Petro, a for-profit company funded by Shell and others in the energy industry to focus on recruiting women. The Petroleum Equipment and Services Association reports only 15 percent of the current oil and gas workforce is female, a number that drops in half when it comes to higher-paying technical jobs.
Mehnert created Pink Petro four years ago, after flying back to Houston. "I was sitting next to a gentleman," she says, "and he said to me, 'What's a pretty young lady like you doing in a dark, dangerous business like oil and gas?'"
She decided more women needed to be in this "dark" and "dangerous" — and well-paying, rewarding, challenging — industry critical to a functioning world.Read more
US oil production will keep expanding through at least 2020, led by further growth from the Permian and New Mexico and putting a cap on Brent crude prices, according to S&P Global Ratings.
Output from the US will exceed 13 million b/d in 2020 compared with about 12 million b/d this year, Andrey Nikolaev, senior director, analytical manager in S&P Global Ratings, said Wednesday in a presentation given in Dubai.Read more
ALBUQUERQUE — A surge in oil production has resulted in record revenues for state government coffers and public education. But industry officials cautioned Tuesday that regulatory certainty will have to be maintained if New Mexico wants to hold on to its spot as one of the United States’ top producers.
New figures released by the New Mexico Oil and Gas Association show revenues, taxes and other fees related to the fossil fuel-producing sector reached a high of $2.2 billion for the 2018 fiscal year.
That represents an increase of $465 million over the previous fiscal year and an additional $128 million specifically for education. Overall, the industry provided more than $1 billion for public schools and the state’s universities during the period.
With US shale activity in 2019 beset by uncertainty, Rystad Energy identifies three trends for US light tight oil production that will have a profound impact on the evolution of the industry in 2019 and 2020:
-New Mexico emerging as a rising star
-A faster expansion among private operators and majors compared to public E&P players
-A steepening decline in base production that could impede output growth over the next two years.Read more