Despite a significant fall in crude oil prices in the second half of 2014, the United States was still the world’s undisputed biggest producer of oil and natural gas hydrocarbon last year, the Climate Spectator revealed on April 9.
The report said the boost in production was due to the country’s aggressive exploration and drilling of shale gas and tight oil formation, specifically in the states of North Dakota and Texas. The country was able to boost its petroleum production by 3 quadrillion British thermal unit (Btu), or 1.6 million barrels per day, and its natural gas production by 5 quadrillion Btu, or 13.9 billion cubic feet per day.
On the other hand, petroleum and natural gas production in two other competing countries, Russia and Saudi Arabia, has remained unchanged for several years.
The country’s impressive oil and natural gas production further testifies that you can get the most out of your mineral rights by selling it today. To learn more about getting the highest possible value for your mineral rights sale, speak with our team of mineral rights brokers at The Mineral Auction by calling (512) 698-2802 today.
Hillcrest Resources Ltd. announced that on December 19, it completed the purchase of Texas-based Gulfsands Petroleum USA, according to a press statement published by the Marketwatch on January 20.
The purchase caused Hillcrest’s production to increase by approximately 171 barrels of oil per day (bopd) and 420 thousand cubic feet of gas per day. The company also said that apart from increased oil and gas production, it identified four new infill drilling locations and also continued their well re-completion and maintenance projects.
The newly-sealed deal also relocates Hillcrest’s main office to Houston,TX. According to Hillcrest CEO and Chairman Don Currie, the change of address would move their headquarters to a location nearer to their production facilities and would also streamline administrative responsibilities and operations.
Major players in the oil and gas industry are switching to their newest location of interest – Texas. If you want to take part in this economic boom by selling your mineral rights, speak with our team of mineral rights brokers at The Mineral Auction by calling (512) 698-2802 today.
Encana Corp. is making its way into the oil and natural gas-rich Permian region of Texas after it announced its plan to buy Athlon Energy, an online Calgary Herald report stated on September 29.
Encana plans to buy the Texas-based energy firm for a little less than $6 billion and to assume its debt worth more than $1 billion. With this deal, the company envisions producing 250,000 barrels of oil per production day by 2017, which is five times what it produced last year. The company also believes the acquired land provides the company with around 5,000 possible new drilling spots.
Selling your mineral rights to healthy and well-footed companies in the oil production sector is a guaranteed way to ensure that you get the best value out of your property. The professionals at The Mineral Auction can provide you a wide portfolio of businesses who can buy your rights when you call our office at (512) 698-2802 today.
Oil and gas service provider Paradigm Oil and Gas Inc. announced its acquisition of 50 new oil wells in Texas, thereby expanding their reach into oil and gas production, SYS-CON Media reported on June 2.
In a press statement, the company said more than 20 of the 50 newly acquired oil wells are already producing oil and yielding income. The purchases cover about 4,000 acres of land in the Houston and Dallas areas, obtained by acquiring the leases previously held by Bitter Creek Petroleum, Blackjack Services, and Magnum Oilfield Services.
Paradigm Oil and Gas CEO Vince Vellardita said that with its increased production capability, the company expects to earn a six-digit monthly revenue by the last quarter of this year.
Our highly resourceful and knowledgeable brokers at The Mineral Auction help mineral rights sellers in Texas take advantage of the state’s current energy boom and may also help you. Call us at (512) 698-2802 to learn more about how we may assist you in finding the right buyer.
By the end of 2014, Texas could outrank all OPEC member countries, other than Saudi Arabia, in terms of oil production, the Houston Chronicle reported Wednesday, April 23.
Greg Leveille from ConocoPhillips said that by the end of this year, Texas could produce 3.4 million barrels of oil each day, out performing every OPEC member-country except Saudi Arabia. The state’s oil output is also expected to top that of several leading oil-producing non-OPEC countries, except Russia, the United States, China, and Canada, which could make Texas the sixth largest oil producer globally.
The future of energy-rich Texas in the global energy market is indeed bright, and we at The Mineral Auction invite you to take part in this boom. If you are planning to sell your mineral rights, contact us at (512) 698-2802 to sell your rights at the best possible price.