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The Lone Star State of Cheap Energy
Barrel Hub
July 17, 2023
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Daily Data Dump
The good, the bad, and the ugly of Texas oil production.
Best of the Best 🏆️
Every week, we sift through our proprietary data to find the best performers in Texas.
Never Quit 😢
Similarly, we find the oil producers who need a little help (i.e. call Barrel Hub).
If you’re wondering how we get this information, we’re under strict orders from OPEC not to disclose that (but if you want to know you can go here).
Daily Bulletin
Futures Curve
Lone Star Stories
Texas is the third least energy-expensive state in the U.S., with an average monthly energy bill of $378. The cheap price of natural gas in the state is a major factor in its low energy costs.
Callon Petroleum has been fined $1.3 million by the Environmental Protection Agency for air pollution violations at its oil and gas wells in the Permian Basin. The violations include excessive emissions of volatile organic compounds, which can contribute to smog and other air pollution problems.
Reader Question of the Day
How are oil reserves calculated and reported?
Oil reserves are quantities of crude oil that are technically and economically feasible to extract from known fields under existing economic and political conditions. The calculation and reporting of oil reserves involve several steps and categories:
Discovery and Exploration
Reserve Categorization
Technical and Economic Feasibility
Reporting
It's important to note that the estimation of oil reserves is not an exact science and involves a significant degree of uncertainty. It's based on the best available data and assumptions, which can change over time as new information becomes available or as conditions change.
Sources 1
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