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Permian News

Top 5 Stories

Here were the top five Permian Shale stories for the week on June 8-12. Have a great weekend and thank you for reading. 5. Primera Energy hearing fuels fiery accusations of defrauding investors San Antonio-based Primera Energy was part of a heated bankruptcy court hearing today on whether the company would appoint a third party chief executive to replace CEO ...

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Mora County ban may come back

Mora County in northern New Mexico may make a second attempt at banning oil and gas drilling while commissioners draft regulations to limit fracking, the Albuquerque Journal reports. The county became the first county in the U.S. to effectively ban fracking with an ordinance passed in 2013. This decision sparked two federal lawsuits from oil and gas companies and a ...

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Earthquakes in Kansas, Oklahoma prompt meeting over fracking

WICHITA, Kan.  — Environmental groups from Kansas and Oklahoma are hosting a public event this weekend that aimed at raising awareness about earthquakes and a hydraulic fracturing process commonly known as fracking that is used in drilling injection wells. The Sierra Club chapters from the two states have scheduled the meeting Saturday at the Medford Civic Center in Medford, Oklahoma. ...

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Encana lost $197k on oil in accident

When an oil well belonging to Encana Corp. exploded and shot gas into the air May 19 in Karnes County, the incident cost several families their homes as surrounding residents evacuated the area. According to a report released last week, the accident also proved to be an expensive loss for Encana, San Antonio Business Journal reports. The report, which Canadian ...

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State average gas prices have reached a high for 2015

Pump prices have climbed to the highest of the year and AAA believes the summer will see a plateau and possibly a drop in pricing. Chuck Mai, spokesman for AAA Oklahoma, said prices in the region have “surged” because of a few refinery issues “that have limited production.” “According to the U.S. Energy Information Administration, gasoline production in the Midwest ...

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EIA report: Permian to follow trending production cuts

Although the U.S. shale revolution has maintained impressive momentum over the course of the last year, depressed oil prices have taken their toll. The Energy Information Administration released its monthly drilling productivity report this week, and it has confirmed what many industry experts saw coming. With the exception of the Permian Basin, the U.S. has seen a drop in oil ...

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$4.5 million raised in busted ponzi scheme

U.S. District Courts in Austin have indicted William Allen Risinger of Round Rock for an oil and gas Ponzi scheme exceeding $4 million, Austin Business Journal reports. According to a document from the Texas State Securities Board, Rislinger committed fraud by means of oil and gas well royalty interests through Dallas-based RHM Exploration. “Beginning at least as early as November ...

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Railroad Commission picks Porter as new leader

Texas Railroad Commissioner David Porter was unanimously selected Tuesday to be the new chairman of the state’s oil and gas regulatory agency. Porter, a CPA who practiced in Midland, providing services to oil and gas producers, royalty owners and oil field service companies, takes over the post from outgoing Chairwoman Christi Craddick. “As Railroad Commissioners, it is our job to ...

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