New Mexico, where some Oklahoma-based energy firms are active in Permian Basin drilling is reported to be rebounding from the coronavirus pandemic that hit the oil and gas industry last year according to oil firm officials who testified before a legislative committee. The rebound in the industry is occurring despite the Biden administration’s freeze …
June 24, 2021 archive
Energy news in brief
** The world’s publicly traded independent oil producers will make record profits this year, surpassing the levels reached when crude hit an all-time high near $150 a barrel more than a decade ago, according to Rystad Energy. ** Tesla’s Model 3 tops a list of “most American-made” vehicles for 2021, marking the first time an electric vehicle …
400% increase in frack crews not enough to boost output
Primary Vision Inc., a firm that tracks data on frack crews says a 400% increase in the number of fracking crews working in the nation still isn’t enough to boost oil output to soaring levels. After an 85% tumble in the number of crews completing wells during the depths of the pandemic, the figure has …
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