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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Dec 27, 2004
Page
7
Oil and gas briefs summarize activity across the sector with concise notes from staff reporters and wire services. Details cover production, pricing, regulatory moves, and industry developments affecting operators and markets.
U S oil and gas rig activity rose by 23 this week to 1 257 rigs nationwide Baker Hughes Inc reports. Texas gained 14 rigs Oklahoma five Louisiana four California two and Wyoming one Alaska fell by one New Mexico no change. Also notes related energy contracts and a Bechtel LNG terminal project in Cameron Parish Louisiana with startup targeted for 2008. Editor notes vacation.
The fragment lists county numbers for Lea Loving Pecos Martin Midland Crane Upton Ward Andrews Terrell Ector Winkler Gaines Culberson Reeves Howard for this week last week and year with a page 58 reference for more details.
Texas cattlemen reported resilient demand as consumers bought more beef in 2004 amid the first U S mad cow case. Prices fluctuated with market swings but exports rebounded as pork and beef demand supported producers. An 18 month US surveillance tested over 121000 cattle with no mad cow findings. trust in the beef supply rose slightly.
Oil prices lift Basin activity as crude soars and $1 billion in oil and gas properties change hands. Fifty dollar crude revived drilling, creating 500 plus jobs and boosting consumer confidence and retail spending in Odessa. Sam Fife cites labor shortages while Wesley Burnett aids expansion through ODC grants and corporate agreements. See BASIN Page 28.
Economist M R Perryman notes weak overall holiday retail demand with a 3.7 percent gain vs 2003, despite strong e commerce. High end stores saw solid after Thanksgiving sales while economists warn volatility in gas costs and electronics may weigh on forecasts, though early Christmas week e commerce rose about 13 percent year over year.
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