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Texas Issues 12% Fewer Oil, Gas Drilling Permits in December

Published in Oil Industry News on Thursday, 11 January 2018


Graphic for News Item: Texas Issues 12% Fewer Oil, Gas Drilling Permits in December

Texas issued 885 oil and gas drilling permits in December, down 12 percent compared with the same month in 2016, the state’s energy regulator said on Tuesday.

- December’s total included 792 permits to drill new oil or gas wells, eight to re-enter plugged wells and 85 for re-completions of existing wells, according to the Railroad Commission of Texas.

- Total completions - the process of making a drilled well ready for production - processed last year were 6,914, down 34 percent from 10,468 in 2016.

- Active rigs in the state as of Dec. 5 totaled 454, about 49 percent of all working rigs in the United States, according to oilfield services firm Baker Hughes Inc

- In December, Texas had 11,000 more active wells than the same month in 2016, for a total of 317,864 wells, with 96 percent of the increase coming from wells producing less than 10 barrels of oil per day (bpd).

Source: www.reuters.com

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