TIPRO releases Permian Basin report highlighting record production
The Texas Independent Producers & Royalty Owners Association (TIPRO) released the next edition of its "State of Energy Report" series. The new TIPRO report explores trends in the Permian Basin over the past 10 years with an emphasis on employment, demographics, businesses, and oil and natural gas production.
As outlined in the report, the Permian Basin is made up of 63 counties in Texas and New Mexico. The region's oil and natural gas industry continued to provide unmatched economic support in 2019, directly employing an estimated 87,603 individuals, an increase of approximately 3,200 net new jobs over the previous year. Since 2009, direct oil and natural gas employment in the region increased by 42,833 jobs.
For more information, visit www.tipro.org or call (512) 477-4452.
BSEE safety initiatives support record oil production
The Bureau of Safety and Environmental Enforcement (BSEE) recently unveiled that in August 2019, oil production from the Gulf of Mexico exceeded 2 million bpd for the first time in history. This record average daily production in the Gulf of Mexico followed on the heels of a record-setting 2018 for the entire Outer Continental Shelf, when a total of more than 640 million barrels were produced in federal waters. Additionally, a number of BSEE initiatives that began in 2017 are driving offshore safety performance and environmental improvements.
The increase in production in 2019 led to $2.34 billion more in offshore royalty revenue for the U.S. Department of the Treasury and, according to an EIA report, U.S. Gulf of Mexico oil production not only increased but will continue to set records through 2020.
For more information, visit www.bsee.gov or call (800) 200-4853.
Texas processes drilling permits at record pace
For two years in a row (2018-2019), Railroad Commission of Texas staff have set a historic record of taking just two days on average to process standard drilling permits, one day below the legislative requirement. This efficiency helps foster the growth of energy production statewide. Standard drilling permits are permits that do not require exceptions to commission rules such as spacing or density rules.
During calendar year 2019, the RRC processed a total of 11,654 new drilling permits.
"Nearly 99 percent of operators apply for drilling permits online," said RRC Executive Director Wei Wang. "This allows our staff to thoroughly and quickly review each application to ensure operators meet all drilling permit requirements."
For more information, visit www.rrc. state.tx.us or call (512) 463-4817.
The Gulf Research Program (GRP) of the National Academies of Sciences, Engineering, and Medicine will give $7.25 million in grant awards for eight projects focused on strengthening safety in the offshore oil and gas industry.
The GRP's Safer Offshore Energy Systems (SOES) Grants 4 supports projects that produce datasets, strategies and tools for measurement that will promote a culture of safety in the oil and gas industry. As the industry continues to be a vital part of the Gulf Coast economy, this work is urgently needed to ensure protection of people and the environment.
"A culture of safety has many characteristics," said Kelly Oskvig, senior program officer for the GRP's SOES initiatives. "Through this grants competition, we hope to provide the tools to help strengthen some of those characteristics as well as answer a few critical questions: What best practices can oil and gas adopt from other high-risk industries? How can an organization measure improvement of its safety culture? How can data be used to better understand the dangers?"
For more information, visit www.nationalacademies.org or call (202) 334-2138.
U.S. oil and natural gas proved reserves, production set new records
U.S. oil and natural gas proved reserves had another record-breaking year, according to an EIA report. U.S. proved reserves of crude oil and lease condensate rose to 47.1 billion barrels in 2018, a 12-percent increase from the previous record set at year-end 2017 of 42 billion barrels. U.S. proved reserves of natural gas rose to 504.5 trillion cubic feet (Tcf), a 9-percent increase from the record level set in 2017 of 464.4 Tcf. The growth in oil and natural gas proved reserves was driven by an increase in 2018 oil and natural gas prices.
Proved reserves are those volumes of oil and natural gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
For more information, visit www.eia.gov or call (202) 586-8800.