Oil/Gas Rout Makes Its Mark on Texas Economy

Texas oil and natural gas industry employment fell 19.4% last year amid a nearly 66% decline in the price of oil and a 75% reduction in the number of active drilling rigs, according to economists at the Federal Reserve Bank of Dallas. Within the state, though, regions vary in their economic performance. Read More

Downturn Raises Funding Concern at Texas Railroad Commission

The Texas oil and natural gas boom might have turned to a bust for now, but that hasn't slackened work at the Railroad Commission of Texas (RRC). Staff has shifted attention from permitting new wells to the need to plug nearly 10,000 abandoned wells. Meanwhile, revenues have dropped because of permitting fee and production tax declines. Read More

ConocoPhillips Aggressively Pursuing Enhanced Completions in Unconventional Fields

ConocoPhillips hasn't escaped the financial pressures from slack commodity prices, but the slowdown has proved to be an opportune time to continue improving individual wells in regions across its onshore unconventional fields in the Lower 48, a plan that is going to provide a good defense against lower prices in the future, a top executive said Monday. Read More