Thursday, December 8, 2016

Texas Reports Nov Oil and Gas Drilling and Permit Activity: Well Completions Decline

The Texas Railroad Commission issued its Drilling and Completion Report for November today, and it showed reduced completions for both oil and gas, with oil at a new cycle low of 264 wells completed.  Gas well completions were also low, despite being six months into a price recovery.  Henry Hub front month averaged $2.88 in November, and WTI was $45.71.

Texas Natural Gas Completions

 Texas Oil Well Completions