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EIA: Gulf Coast crude oil inventories reach record level

Crude oil inventories on the US Gulf Coast reached a record high of 207.2 million bbl on Apr. 11, as a result of the continuing strong crude oil production growth, the opening of TransCanada’s Marketlink Pipeline, and a drop in crude oil inputs at Gulf Coast refineries due to seasonal maintenance, according to the US Energy Information Administration.

Texas Petro Index reaches record-high for February

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), reached yet another record high, tallying a score of 300.6 in February as a result of rapidly increasing production, higher wellhead prices, and revised statewide employment numbers.

US gas reserve growth in 2013 was robust, AGA estimates

US natural gas producers added more than 35 tcf of reserves in 2013, the American Gas Association said in its latest annual preliminary estimate based on reported results by the 30 largest companies representing more than half of the total US production and reserves.

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