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Texas Petro Index sets record for 7th straight month

Jul 24, 2014

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), continued to produce record highs last month amid an “economic tsunami.”

Breitburn, QR Energy to merge into upstream MLP

Jul 24, 2014

Breitburn Energy Partners LP, Los Angeles, and Houston-based QR Energy LP have signed a definitive merger agreement where Breitburn will purchase QR Energy in an all-stock transaction valued at $3 billion by the companies.

API survey finds gap between voters, federal officials on development

Jul 24, 2014

A substantial gap exists between registered voters’ support for more US oil and gas development on federal lands, and what they think federal officials actually are doing about it, according to a recent survey commissioned by the American Petroleum Institute.

EIA: Weekly US refinery inputs set new record In July

Jul 24, 2014

Refinery inputs reached a record-high of 16.8 million b/d in each of the past 2 weeks, exceeding the previous record from summer 2005, according to the US Energy Information Administration. Inputs at refineries in the Midwest and Gulf Coast have been particularly high, reflecting these refineries’ access to lower-cost crude oil, expansions of refining capacity, and increases in both US demand and exports.

MARKET WATCH: Crude oil prices climb slightly on New York, London markets

Jul 24, 2014

Crude oil futures rose slightly on both New York and London markets July 23, and one analyst called Brent oil prices “subdued” while market participants await emerging geopolitical developments in the Russia-Ukraine conflict and also anticipate increasing oil supply from Libya.

DOT proposes new rules for transporting crude oil by rail

Jul 23, 2014

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high-hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

Center for LNG urges DOE to scrap proposed export review changes

Jul 23, 2014

The US Department of Energy’s proposal to only issue national interest determinations to LNG export projects that have completed a National Environmental Policy Act review should be withdrawn, the Center for Liquefied Natural Gas said.

Diamondback to expand Midland basin acreage

Jul 23, 2014

Diamondback Energy Inc., Midland, Tex., has entered into a definitive purchase agreement with unrelated third party sellers to acquire 16,773 gross (13,136 net) acres in Midland, Glasscock, Reagan, and Upton counties in Texas for $538 million.


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