88 Energy Makes Its Move: Texas, Here We Come!

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Daily Data Dump

The good, the bad, and the ugly of Texas oil production.

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Every week, we sift through our proprietary data to find the best performers in Texas.

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Daily Bulletin

Lone Star Stories

88 Energy Makes Its Move: Texas, Here We Come

88 Energy has secured a new non-operated working interest in leases and wells in Texas' Permian Basin, expanding the existing Project Longhorn with a net estimated reserve of 1.1 MMBOE. The acquisition, costing $1.5 million, sets the stage for immediate production expansion with two new wells planned for late 2023, in line with the company’s strategy to build a successful exploration and production company.

Heatwave Spurs Massive Gas Emissions in Texas

A record-breaking heatwave in West Texas forced oil and gas companies, including Targa Resources, to release hundreds of tons of toxic gases due to increased pressure in their systems. Critics stress the need for adequate insulation on oil and gas facilities and highlight the vulnerability of gas infrastructure to extreme weather events.

Reader Question of the Day

What is Hydraulic Fracturing?

Hydraulic fracturing, commonly referred to as fracking, is a technique used in the extraction of gas and oil from deep underground. It involves the injection of a high-pressure fluid (usually a mix of water, sand, and chemicals) into a wellbore to create fractures in the rock formation. These fractures provide a pathway for oil or gas to flow more freely from the reservoir to the well, which leads to an increase in the extraction rates and recovery of oil and gas. While hydraulic fracturing has significantly boosted domestic oil and gas production, it also raises environmental and public health concerns, including water contamination, induced seismicity, and air pollution.

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