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Wedgewood's 'Lone Star' Bet: Texas Land with A Side of Oil
Barrel Hub
July 20, 2023
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The good, the bad, and the ugly of Texas oil production.
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Lone Star Stories
Wedgewood Partners Large Cap Focused Growth Fund reported a Q2 2023 net return of 8.1%, slightly lagging behind the S&P's 8.7% and notably the Russell 1000 Growth Index's 12.8%.
Midland, Texas experienced the largest week-over-week gas price increase in the state, up by 7 cents to $3.12, but still remains 9 cents lower than the state's average, according to AAA Texas.
Reader Question of the Day
How is remote sensing technology used in oil exploration?
Remote sensing technology plays a crucial role in oil exploration by providing valuable data about the Earth's surface and sub-surface without the need for direct contact. This technology can be employed through satellite, aerial, or ground-based systems to collect and interpret data. Here are a few ways remote sensing is used in oil exploration:
Seismic Exploration
Satellite Imagery
Gravimetric and Magnetic Surveys
Radar Sensing
Thermal Imaging
LiDAR (Light Detection and Ranging)
By using these technologies, oil companies can make more informed decisions about where to drill, significantly reducing the risks and costs associated with exploration. As technology continues to advance, remote sensing is likely to play an even larger role in future oil and gas exploration.
Sources 1
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