The US Oil Boom: Partying Like It's 1998

Source: The Atlantic, Jordan Weissmann (6/12/12)

"Thanks to new drilling in North Dakota, Texas and the Gulf of Mexico, the United States is now pumping the highest crude oil volumes the country has managed since 1998."

The Atlantic, Jordan Weissmann

The Energy Department is out with a new report on America's booming oil production, and it's something to behold. Thanks to new drilling in North Dakota, Texas and the Gulf of Mexico, the United States is now pumping oil more than 6 million barrels a day of crude, up roughly a tenth since the middle of last year, and the highest volume the country has managed since 1998. Not since Bill Clinton was busy fending off impeachment charges have we been able to extract oil at this pace.

The oil boom has been driven primarily by two factors: First, companies have taken advantage of new drilling techniques that let them tap unconventional crude resources, such as the shale deposits in Texas and North Dakota. Second, high global prices have made those extraction methods economical. Even with oil tumbling these days, most people believe that companies can still turn a profit drilling as long as it sells for at least $50 a barrel. Unless something drastic happens in the market, we should expect this growth to continue. . .View Full Article

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.