The Energy Information Administration has issued rankings of states in production of oil, gas, coal, electricity generation, and energy consumption. Texas ranks prominently in most categories. — Texas is first in total energy production, producing 10,997 trillion Btus of energy in 2006 (the most recent information available). Wyoming is second (mainly from…
EIA issued the following press release today: U.S. Energy Information Administration Washington, DC 20585 FOR IMMEDIATE RELEASE OCTOBER 29, 2009 Natural Gas Reserves at Record High – Oil Reserves Fall with Lower Price At the end of 2008, domestic natural gas proved reserves reached their highest level since the…
America’s Natural Gas Alliance, a recently formed energy lobbying group formed by natural gas producers, has issued a press release praising the Senate’s version of a climate bill. Without actually endorsing the bill, the Alliance commended the bill’s authors for “including provisions in their bill that will enable us to…
The recent volatility in prices for oil and gas leases has raised issues with the time-honored custom in the industry of paying lease bonuses with drafts. Problems have arisin because companies have refused to honor the drafts or because lessors have sought to cancel the transaction after signing and delivery…
The U.S. Energy Information Administration has launched a new website that contains wonderful information about energy described in terms laypersons can understand. It can be found at http://tonto/eia.doe.gov/energyexplained/ . Here are some examples of information you can find there: — A British Thermal Unit (Btu) is the quantity of heat required to…
Aubrey McClendon, CEO of Chesapeake Energy, and John Pinkerton, CEO of Range Resources, called for the industry to publicly disclose the chemicals used in hydraulic fracturing. A bill recently introduced in Congress, the FRAC Act, would require disclosure of frac chemicals. (See my prior post on the FRAC Act here.)…
Prior to the Texas Legislature’s passage of House Bill 2259, an operator could leave an inactive well unplugged indefinitely, as long as the oil and gas lease on which the well is located remains in effect, by simply filing an annual form. House Bill 2259, effective September 1, 2009, imposes…
Gas prices in Texas recently dipped below $2/mmbtu. Companies are shutting in wells to avoid selling at such low prices. Nevertheless, record volumes of gas are going into storage. The chart shows the five-year monthly average of gas in storage for the last five years, and the red line shows…
Three law firms in Dallas have joined to sue oil companies who backed out of leases covering lands in Arlington, Texas last fall. The three firms — Petroff & Associates, Riddle & Williams, P.C., and Mathis & Donheiser, P.C. — have so far filed two suits on behalf of two lot…
A Delaware bankruptcy judge has ruled in the SemCrude bankruptcy that the claims of Texas producers for unpaid revenues from oil sales are subordinate to the claims of SemCrude’s bankers. As a result, the Texas producers (and perhaps their royalty owners) may lose up to $57 million. SemCrude filed for…