Report: Texas oil and gas industry broke multiple records in 2024
In 2024, Texas’ oil and gas industry set records in production, job creation, and taxes/royalties paid, per a report by TIPRO.
Author Archive for: bigimktg
Entries by Breakthrough Investment Group
U.S. energy dominance: A decade in the making
President Trump campaigned on the promise of “unleashing US energy dominance,” but the reality is that the US has already achieved this goal.
Trump’s presidency sparks renewed optimism in oil markets
Speculators and algorithmic traders are betting on higher oil prices due to expected policy changes under Trump and shifts in EV and oil demand.
AI helps researchers dig through old maps to find lost oil and gas wells
Researchers used AI to analyze 45 years of USGS maps, uncovering oil and gas wells not listed in state records in California and Oklahoma.
Basin’s oil production goes ever higher
The Permian Basin is pumping a record 6.3 million barrels of oil daily, with projections to hit 6.6 mb/d next year, driven by tech advances and disciplined practices.
Texas commission approves plan for transmission infrastructure to serve Permian Basin
The Public Utility Commission of Texas (PUCT) approved a plan to meet the future electricity needs of the Permian Basin Region.
Oil prices rise on large crude inventory draw
Crude oil prices moved higher today after the US EIA reported an estimated inventory decline of 6.9 million barrels for the week to August 30.
Big oil mergers promise greater stability
Major companies’ recent mergers and acquisitions of independent oil firms have positively reshaped the energy industry in the Permian Basin.
US Energy Development Corporation to invest $750 million on Permian projects
Over the next 12 months, US Energy plans to invest over $750 million, primarily targeting projects in the Permian region.
Expanding gas processing capacity may increase Permian crude
The development of gas processing plants and a pipeline opening in the Permian Basin are expected to give crude producers a boost in the second half of 2024.
