Energy
Texas oil and natural gas industry continues to break records
From The Center Square
By
Texas’ oil and natural gas industry broke new production records in May, continuing a trend in recent months and years.
Texas’ production of oil, natural gas, and natural gas liquids (NGLs), refinery activity and exports reached new record highs last month, according to a new analysis published by the Texas Oil & Gas Association (TXOGA).
The industry produced a record-high 5.7 million barrels per day (mb/d) of crude oil in Texas, a record 32.5 billion cubic feet per day (bcf/d) of natural gas marketed production and 3.5 mb/d of NGLs, according to estimates made by TXOGA’s Chief Economist Dean Foreman, Ph.D.
This is after the Texas oil and natural gas industry established new monthly records in March, according to U.S. Energy Information Administration (EIA) and U.S. International Trade Commission data. In March, Texas reported a record-high NGL field production of 3.7 million mb/d – the highest on record in history – more than doubling in-state consumption, according to the data.
Crude oil production topped 5.6 mb/d; natural gas marketed production topped 32.3 bcf/d. Texas refinery activities also reach a record-high net production of 5.5 mb/d.
Texas’ production of oil and natural gas is unparalleled. No other state is producing the volume that Texas is.
This is after Texas’ petroleum products exports exceeded 4 million barrels per day for the first time in history last December.
Since then, the Texas oil and natural gas industry has sustained five consecutive months of exporting petroleum products of more than 4 million barrels per day. In the first quarter of 2024, Texas exported nearly $57 billion worth of petroleum products.
The majority of LNG exports went to European and Asia Pacific countries; the majority of crude oil and hydrocarbon gas liquids were exported to Asia Pacific countries, according to the data.
Foreman said that Texas’ record-setting performance has continued “on the heels of remarkable productivity gains,” with rig productivity in May increasing by more than 20% year-over-year, according to EIA estimates. “As a result, Texas has continued to gain market share amid U.S. oil and natural gas production through the first half of 2024. U.S. energy security increasingly depends on Texas, and Texas has stepped up like none other.”
Projections for June show Texas’ production remains historically strong, holding at 5.7 mb/d of crude oil, 3.6 mb/d of NGLs, and 32.4 bcf/d of natural gas marketed production, according to Foreman’s estimates.
In the first half of 2024, Texas produced an estimated nearly 43% of all domestically produced crude oil and more than 28% of all domestic natural gas marketed production, according to TXOGA estimates.
Thermal and dispatchable sources of energy, primarily natural gas, are generating the majority of electricity Texans use through Texas’ grid managed by the Electric Reliability Council of Texas (ERCOT). During Winter Storm Heather, from Jan. 13-16, thermal and dispatchable sources generated as much as 95% of ERCOT’s electricity.
During another high demand period, from March 21-22, thermal and dispatchable sources, primarily natural gas, generated over 90% of ERCOT’s electricity for nine consecutive hours, averaging 91.8% of the region’s power, according to ERCOT and EIA data.
“These new records are a testament to Texas’ role as a national and global energy leader,” TXOGA President Todd Staples said. “Amidst growing global instability and energy demand that is expected to nearly double by 2050, oil and natural gas continue to serve as the bedrock of our energy mix, providing affordable reliable energy to meet our state, nation, and the world’s needs.”
Daily Caller
‘Not Held Hostage Anymore’: Economist Explains How America Benefits If Trump Gets Oil And Gas Expansion
From the Daily Caller News Foundation
Economist Steve Moore appeared on Fox Business Tuesday to discuss what he called the significance of expanding domestic oil and gas production in the United States.
President Donald Trump’s Executive Order 14154 aims to secure U.S. energy independence and global leadership by awarding 10-year oil and gas leases. During an appearance on “The Bottom Line,” Moore said that if Trump’s energy policies succeed then America will no longer have to rely on foreign oil.
“If Trump goes forward with what he wants to do, and our energy secretary is all in on this, produce as much oil and gas as we can here at home in Texas and North Dakota and Oklahoma and these other states. Then we’re not held hostage anymore to what’s happening in the Middle East,” Moore said. “That’s what’s so frustrating. We have more of this stuff than anybody does.”
WATCH:
Moore then pointed to some of former President Joe Biden’s early decisions, particularly the cancellation of pipelines. Moore said these actions left the U.S. vulnerable to external energy crises.
“I don’t want to overemphasize the Strategic Petroleum Reserve. It’s good that we have this sort of safety knot in case you have some kind of blow up in the Middle East, like we have now. But, ultimately, what Joe Biden did was the most sinister of all,” Moore said. “You guys remember what was the first thing when he became president? He canceled pipelines. He destroyed our energy infrastructure.”
During his first term, Trump signed executive orders to advance major pipelines, including instructing TransCanada to resubmit its application for a cross-border permit for the Keystone XL Pipeline, which is designed to transport oil from the tar sands of Alberta, Canada to refineries on the Gulf Coast. On his first day in office, Biden revoked the permit for the Keystone XL Pipeline, effectively halting its development.
Alberta
Alberta is investing up to $50 million into new technologies to help reduce oil sands mine water
Technology transforming tailings ponds
Alberta’s oil sands produce some of the most responsible energy in the world and have drastically reduced the amount of fresh water used per barrel. Yet, for decades, operators have been forced to store most of the water they use on site, leading to billions of litres now contained largely in tailings ponds.
Alberta is investing $50 million from the industry-funded TIER system to help develop new and improved technologies that make cleaning up oil sands mine water safer and more effective. Led by Emissions Reduction Alberta, the new Tailings Technology Challenge will help speed up work to safely reclaim the water in oil sands tailing ponds and eventually return the land for use by future generations.
“Alberta’s government is taking action by funding technologies that make treating oil sands water faster, effective and affordable. We look forward to seeing the innovative solutions that come out of this funding challenge, and once again demonstrate Alberta’s global reputation for sustainable energy development and environmental stewardship.”
“Tailings and mine water management remain among the most significant challenges facing Alberta’s energy sector. Through this challenge, we’re demonstrating our commitment to funding solutions that make water treatment and tailings remediation more affordable, scalable and effective.”
As in other mines, the oil sands processing creates leftover water called tailings that need to be properly managed. Recently, Alberta’s Oil Sands Mine Water Steering Committee brought together industry, academics and Indigenous leaders to identify the best path forward to safely address mine water and reclaim land.
This new funding competition will support both new and improved technologies to help oil sands companies minimize freshwater use, promote responsible ways to manage mine water and reclaim mine sites. Using technology for better on-site treatment will help improve safety, reduce future clean up costs and environmental risks, and speed up the process of safely addressing mine water and restoring sites so they are ready for future use.
“Innovation has always played an instrumental role in the oil sands and continues to be an area of focus. Oil sands companies are collaborating and investing to advance environmental technologies, including many focused on mine water and tailings management. We’re excited to see this initiative, as announced today, seeking to explore technology development in an area that’s important to all Albertans.”
Quick facts
- All mines produce tailings. In the oil sands, tailings describe a mixture of water, sand, clay and residual bitumen that are the byproduct of the oil extraction process.
- From 2013 to 2023, oil sands mine operations reduced the amount of fresh water used per barrel by 28 per cent. Recycled water use increased by 51 per cent over that same period.
- The Tailings Technology Challenge is open to oil sands operators and technology providers until Sept. 24.
- The Tailings Technology Challenge will invest in scale-up, pilot, demonstration and first-of-kind commercial technologies and solutions to reduce and manage fluid tailings and the treatment of oil sands mine water.
- Eligible technologies include both engineered and natural solutions that treat tailings to improve water quality and mine process water.
- Successful applicants can receive up to $15 million per project, with a minimum funding request of $1 million.
- Oil sands operators are responsible for site management and reclamation, while ongoing research continues to inform and refine best practices to support effective policy and regulatory outcomes.
Related information
Israel strikes Iran, targeting nuclear sites; U.S. not involved in attack
Carney’s European pivot could quietly reshape Canada’s sovereignty
Ontario Police’s Record Fentanyl Bust Suggests Cartel–Iranian–PRC-Supplied Nexus from Ottawa to Hamilton Along Six Nations Corridor
Oil prices are headed for a hard fall
Last day and last chance to win this dream home! Support the 2025 Red Deer Hospital Lottery before midnight!
How to realize Canada’s ambitions as an energy superpower
Albertans need clarity on prime minister’s incoherent energy policy
-
Health2 days ago
Last day and last chance to win this dream home! Support the 2025 Red Deer Hospital Lottery before midnight!
-
conflict2 days ago“Evacuate”: Netanyahu Warns Tehran as Israel Expands Strikes on Iran’s Military Command
-
Aristotle Foundation2 days agoThe Canadian Medical Association’s inexplicable stance on pediatric gender medicine
-
Energy2 days agoCould the G7 Summit in Alberta be a historic moment for Canadian energy?
-
Bruce Dowbiggin2 days agoWOKE NBA Stars Seems Natural For CDN Advertisers. Why Won’t They Bite?
-
Crime2 days agoMinnesota shooter arrested after 48-hour manhunt
-
conflict1 day agoTrump leaves G7 early after urging evacuation of Tehran
-
Alberta2 days agoAlberta announces citizens will have to pay for their COVID shots