The most recent production numbers from Texas show it produced 1.1 million barrels daily in February and 32.9 million barrels for the whole month. And Texas’ oil production has increased more than 8.2 million barrels from February 2011 to February 2012, records show.
read moreOil prices fell to near $101 a barrel Wednesday (January 11, 2012) as the European Union’s efforts to block imports of Iranian oil appeared to be stalling. By early afternoon in Europe, benchmark crude for February delivery dropped 83 cents to $101.41 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 93 cents to settle at $102.24 in New York on...
read moreIn 2009, the United States produced 11% of the world’s oil and consumed 22%. The rapidly changing global cultural and economic landscape combined with the need and demand for oil production means that drilling in the U.S. is here to stay. In fact, with the ever-fluctuating price of fossil fuels and the instability in the Middle East, many Americans are calling for greater expansion...
read moreOil reservoirs and natural gas are generally found in porous rocks known to contain saltwater. During production saltwater will accompany oil to the surface. The result is a need to reclaim and/or dispose of the saltwater derived from the drilling process. In the case of natural gas, the “fracing” process adds chemicals to the water which also must be properly cleaned and stored. The water gleaned from the drilling process contains residual oil, gas elements and other contaminants that must be disposed or...
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