More oil production possible from Texas shale

22 Apr 2017   Shale Oil

Exploration and production activity in the Permian basin shows the area could respond with major output once conditions improve, the Dallas Fed said. The Federal Reserve Bank of Dallas in a report on regional energy indicators said gains in crude oil prices since the Organization of Petroleum Exporting Countries in January placed a ceiling on production has improved market conditions in Texas. “The firming of crude oil prices since the OPEC agreement has likely boosted confidence in the sector, which is reflected in the continuous increase in drilled wells in the Permian since the beginning of this year,” Dallas Fed senior research analyst Kunal Patel said in a statement . The overall picture for the United States has improved steadily since January, with total domestic […]

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