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Odessa American in Odessa, Texas

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Newspaper

Odessa American

Location

Odessa, Texas, United States of America

Date

Aug 09, 2015

Page

9

Global fossil fuel prices tumble boosting consumption

Oil gas coal and fuels from crude have fallen to multi year lows. U S and world demand growth slows while supply expands driven by U S Canada Iraq and OPEC. Consumers save about eight hundred dollars yearly on gasoline. refiners profits slide and layoffs rise.

Barack Obama Costco Robinson Township

Hedging and collars shape Permian Basin oil strategy

Permian producers rely on hedging to cushion price swings with Pioneer locking about 90 percent of 2016 oil at roughly $71 per barrel and RSP Permian using floors of $86 for 35 percent of 2015 volumes and three way collars for 2016. Executives warn demand and lending shifts loom as hedges expire, while some independents like Falken Oil focus on production. Chevron plans 300 new Permian wells amid cost efficiencies and vast untapped prospects, as service firms foresee a downturn until prices stabilize into the 50s and 60s. McMasters on a Falken rig notes pay has fallen 40 percent from 2014–15 but job stability remains.

Exxon Chevron Alpha Natural Resources U.S Labor Department Shell Schlumberger, Haliburton Baker Hughes Permian Basin Pioneer RSP Permian RSP Steven Gray Falken Davis Dale Redman ProPetro Falken Oil and Ranch Redman McMasters Derrick

Permian Basin Drilling Report July 30 to Aug 6

Texas Railroad Commission approves numerous drilling permits across Districts 70 8 and 8A for July 30 through August 6 with many operators including Anadarko Apache BHP Billiton Covenant Diamondback Discovery Energen Energen Enterprise EOG Estancia Forge Henry Energen High Sky Kebo Kinder Morgan Laredo Legacy Martin Occidental Oxy Par ist Patriot Pioneer Ring Shell Sheridan Warhorse XTO Shell and others. New drills recompletions and multiple unit designations appear across Loving Reeves Midland Martin Andrews Reagan and nearby counties with permit counts indicated in parentheses.

Texas Railroad Commission High Sky Partners LLC Mask Hz Midland Kebo Oil & Gas, Inc Reed Gunn Hockley Kinder Morgan Production Co LLC Sacroc Laredo Petroleum, Inc Srd Reagan Legacy Sanders Martin Energies LLC Clayton Runnels Occidental Permian Ltd South Curtis Ranch Martin

Also Mentioned on This Page

Jonathan Fahey Associated Press New York Globe China Japan European Union Russia Saudi Arabia Venezuela Suzanne Minter Bentek Energy Platts Canada Iraq OPEC AAA Energy Department Appalachia Nariman Behravesh THS Tar Sands Gene J. Puskar Prom Joseph Triepke Odessa Oilpro.com Andrews County Courtney Saccoa Permian Basin Drilling Report Anadarko E&p Onshore LLC Hacker Loving Ligon State Reeves Shock-Nave BHP Billiton Pet Txla Op Co Callon Petroleum Operating Co Casselman Kendra- Annie Chevron U. S. A. Inc Reeves Txi Texas Ten New Chi Operating Inc Montgomery New Drill Covenant Operating, LLC Beggs A Kent Crownquest Operating, LLC Andrews Diamondback E&p LLC Kimberly Saxon A Noils Glasscock Saxon NOIWA Discovery Natural Re Sources LLC Mustang Draw Encana Oil & Gas USA Inc Dorothy Faye Holt Ranch Huntt Howard Endeavor Energy Resources L.P Holcomb Hopper Mackey Mckaskle Energen Resources Corporation University Winkler Enterprise Products Reese Cleveland Gas Dri EOG Resources, Inc Holt, Bobby Ector Estancia Oil & Gas LLC Silver Bullet Borden Forge Energy LLC Livingston Henry Resources LLC Univbailey Crane Univjenny Oxy USA Inc Adams IWA Eagle State Willard Unit Yoakum Parsley Energy Operations LLC East Braun Catalyne Dusek IHU Upton K-Bird Ringo Robbie Tucker Patriot Resources Inc Meerkat Pioneer Natural Res. Use Inc Aldwell Preston A QEP Energy Company Mabee C Ring Energy, Inc 12Th Man State East Harris Harris Shell Western E&p Johnson Sheridan Production Company LLC South Central
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