Our Blog
Investment in Wolfcamp to Top $12 Billion in 2014
According to an article in “Rigzone”, consulting firm Wood Mackenzie predicts capital expenditures (CAPEX) in the Permian Basin’s Wolfcamp play will exceed $12 billion in 2014, and reach $13.9 billion next year. CAPEX in the Wolfcamp is already about 80% of Bakken shale investment. Wolfcamp CAPEX could surpass the Bakken as early as 2017, making… Read More
Hess to Form MLP for ND Transport Assets
According to a recent article in “Rigzone”, Hess Corporation will form a master limited partnership (MLP) for its mid-stream North Dakota assets. The move appears to be part of a trend motivated by the favorable tax treatment, lower cost of capital and higher cash flows associated with MLP’s. MLP’s do not pay federal income taxes… Read More
Corpus Christi Crude Shipments Reach All Time High
“Rigzone” reports that in June, the Port of Corpus Christi, Texas, shipped a record 560,000 barrels of oil per day (bopd), a new record. This is a 61% increase since June of last year. Since January of 2014, crude shipments out of Corpus have been increasing about 50,000 bopd each month. These dramatic increases are… Read More
New Rules for Crude Transport by Rail Proposed
“Rigzone” reports that yesterday the U. S. Department of Transportation proposed an overhaul of safety standards for the shipment of crude oil via rail. The new regulations have been prompted by safety concerns and the increasing volume of crude moving by rail. Over the last 18 months, there have been a dozen derailments, six of… Read More
Denton, TX, Rejects Fracking Ban
At a meeting attended by an estimated 500 people, with 100 scheduled speakers, the Denton city council rejected a permanent fracking ban by a vote of 5-2 according to “Rigzone”. Almost 2,000 proponents had signed a petition advocating the ban. Industry groups (including the Texas Oil and Gas Association), regulators (including the Texas Railroad Commission)… Read More
