When the residents of sleepy, rural McMullen County, Texas, found out that they officially lived in the richest county in America, "we were shocked," recalls Kimberly Kay Kreider-Dusek, the only lawyer in the area. She serves as the county attorney, prosecuting misdemeanors and advising county commissioners on legal matters.
The Railroad Commission of Texas can continue its work protecting public safety and the environment for the next 12 years thanks to a formal reauthorization of the agency by the Texas Legislature this past week.
The father who has been secretly maintaining a memorial for his only son over the last 12 years had to finally reveal himself when the company that owns the property left him a note. Fearing the worst, he stepped forward—only to discover the company wanted to make the memorial a permanent feature in its plans to upgrade the property.
This week, the Texas 85th Legislature filed two concurrent resolutions calling on the federal government to work with Texas in unraveling the harmful, overreaching regulations that have been implemented over the past eight years, which were largely aimed at negatively impacting the oil and gas industry.
By Trevor Hawes
It took nearly two years, but the Permian Basin rig count broke into the 300 range this week after an additional six rigs pushed the tally to 301, according to Baker Hughes.
The Texas Railroad Commission (RRC) is gearing up for increased oil and gas drilling throughout 2017.
By: Loren Steffy
Last May, things looked so bleak in the Texas oil patch that the service company Halliburton decided to write a $3.5 billion check to get out of a planned merger with its major rival, Baker Hughes. The deal had made some sense when it was signed, in November 2014, but a year and a half later the companies’ rationale fell apart as crude oil prices experienced a precipitous, months-long slide. The merger’s demise was just one of many indications that the oil and gas sector was in the midst of its worst bust in three decades. In Texas, the average number of active rigs had plunged from nine hundred at the boom’s peak to fewer than two hundred. Companies slashed tens of thousands of jobs, and bankruptcies were rising. In Irving, the world’s biggest oil company, ExxonMobil, posted anemic profits.
The push by Republicans in the U.S. House of Representatives for a shift to border-adjusted corporate tax (BTA) could push U.S. crude prices higher than the global benchmark Brent, triggering large-scale domestic production, according to analysts at Goldman Sachs on Tuesday.
By Chris Wallace
The Trump administration on Tuesday revived plans for the Keystone XL pipeline, a link that would send more tar sands oil from Alberta, Canada, to Southeast Texas terminals and to local refineries that consume more than a million barrels a day.