News
Below are interesting stories concerning our industries, manufacturing, and our region.
  • Women are Oil Industry’s Great ‘Untapped Reserve’ Says Study

    Women are “chronically” under-represented in the oil and gas industry and the sector is losing out by failing to draw on their skills, a study said on July 12. Women account for just 22% of workers in the oil and gas sector, said the joint study by the World Petroleum Council and Boston ...

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  • Toyota Marks Opening of New US Headquarters in Texas

    The AP (7/6) reports that “Toyota is officially opening its new North American headquarters in Texas.” The AP adds, “The $1 billion project includes a new campus in Plano, outside Dallas,” and the company “plans to move thousands of employees from California and Kentucky and says it will e...

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  • GE Oilfield Giant is Ready to Prosper, If Recovery CooperatesJul 4, 2017 Bloomberg

    General Electric Co.’s new oilfield services behemoth is poised to capitalize on a recovery from the worst crude crash in a generation — except no one is sure when that will actually happen. The merger of GE’s oil and gas business with Baker Hughes Inc. officially closed Monday, creating a...

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  • Dallas Fed Survey: Texas Manufacturing “Reaching Levels Not Seen Since April 2014.”

    Texas manufacturing activity picked up pace in May, surging to its highest level in three years as factories used more of their capacity and produced more goods, the Federal Reserve Bank of Dallas said Tuesday. The Texas production index, a key measure of manufacturing activity, increased 7.9 points...

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  • Why OPEC Plans Oil Cuts Into 2018: Aramco’s Coming IPO

    VIENNA—Saudi Arabia is pushing the OPEC oil cartel and other big producers gathered here this week to extend crude production cuts for another nine months. The reason: the timing of the blockbuster IPO of Saudi Arabian Oil Co., people familiar with the matter said. For the full article, follow the...

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  • California Fracking Boom Set to Lift U.S. Production to New Record

    The California Division of Conservation has received a 543 percent increase in “Oil & Gas Notices” this year, as a Golden State fracking is set to lift the U.S. to a production record. For the full article, follow the link

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  • US Oil Rig Count Rises For 19th Straight Week

    Baker Hughes BHI, +1.11% on Friday reported that the number of active U.S. rigs drilling for oil climbed by 2 to 722 rigs this week. That marked a 19th weekly rise in a row, but the increase was the smallest weekly rise of the year. The total active U.S. rig count, which includes oil and …

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  • U.S. Shale Roars Back at OPEC

    OPEC may get its members to agree to continue to tamp down oil production, but it will be a Pyrrhic victory. The biggest threat to the 13-member group’s dominance has been U.S. shale. In November 2014, the Organization of Petroleum Exporting Countries decided to keep production levels high in the ...

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  • Exxon Mobil Plans Multi-Billion Dollar Plant Near Texas Gulf

    PORTLAND, Texas (AP) — Exxon Mobil Corp. and a Saudi partner plan to build a multi-billion dollar petrochemical plant near the Texas coast, Texas’ governor said Wednesday. The project will be a venture involving Exxon and Saudi Arabia Basic Industries Corp. Exxon officials have said it’...

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  • Drilling permits surge, but not all shale wells completed

    Texas issued more than 1,300 drilling permits in March, twice as many as the same month in 2015. Rigs are rising and companies are rushing back to the shale patch, and to the Permian Basin in particular. But at the same time, well completions were lower than they were last year. The result will be &...

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  • Texas oil and gas drilling climbs in March, but well completions slip

    Texas shale producers applied for more than 1,300 oil and gas drilling permits last month with the majority awarded in the Permian basin, the most active U.S. oil patch, according to the state’s energy regulator. Despite a near tripling of new well permits, to 1,310 wells compared with 511 dur...

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  • Smart Vehicles On the Move at SXSW 2017

    For the past 30 years, South By Southwest (SXSW) has attracted people from all over the world to Austin, Texas, to meet, learn and share ideas, and since 1994, SXSW Interactive has focused on cutting-edge technologies and their potential to change and improve the world. At the 2017 SXSW Conference, ...

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  • ExxonMobil Plans $20 Billion in Manufacturing Investments in Gulf Region

    ExxonMobil will invest $20 billion at 11 new and existing sites in the next 10 years to expand its manufacturing and export capacity along the Gulf of Mexico, the company announced March 6. The expansion program, which ExxonMobil is calling “Growing the Gulf,” will involve chemical, refining, lu...

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  • Energy Transfer to expand in Mont Belvieu with $385 million project

    Energy Transfer to expand in Mont Belvieu with $385 million project Posted by Jordan Blum Date: February 23, 2017 Dallas-based Energy Transfer Partners said it plans to expand its Lone Star campus east of Houston in Mont Belvieu with the addition of a $385 million fractionator and storage system. En...

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  • U.S. drillers add oil rigs for sixth week in a row: Baker Hughes

    U.S. drillers added oil rigs for a sixth consecutive week, extending a nine-month recovery as shale producers ramp up spending to take advantage of a recovery in oil prices. Drillers added five oil rigs in the week to Feb. 24, bringing the total count up to 602, the most rigs since October 2015, ene...

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  • Shale Drilling Up as OPEC Cuts Keep Oil above $50

    Drillers have added 72 rigs since 2017 began, the best start in five years. The expansion is spreading in Texas and Oklahoma, with the Granite Wash play leading the increase. Shale wildcatters pushed ahead on the biggest surge in U.S. oil drilling since 2012 as the explorers take advantage of prices...

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  • EIA: US Shale Oil Output To Rise In March By 80,000 BPD

    Reuters (2/13) reports the US Energy Information Administration’s drilling productivity report shows that March oil production “is forecast to rise by 79,000 barrels per day to 4.87 million bpd,” which would be the biggest monthly rise since October. In the Permian shale play of West Texas and...

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  • Total Rig Count Increases 12 To 741

    The Wall Street Journal (2/10, Jamerson, Subscription Publication) reports Baker Hughes said that the number of oil rigs drilling in the US increased by 8 last week, bringing the total to 591. The gas rig count increased by 4 to 149, while offshore rigs fell by 1 to 21. Reuters (2/10, DiSavino) repo...

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  • New Mitsubishi Caterpillar Forklift manufacturing facility to begin construction

    Houston-based Mitsubishi Caterpillar Forklift America Inc. is preparing to build another Houston-area facility. Construction is slated to begin immediately on a 71,000-square-foot manufacturing facility and distribution center on 10 acres in the Conroe Industrial Park, according to a release. The fa...

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  • Houston equity firm’s company makes acquisition

    A global trailer running gear and chassis assembly company that is majority-owned by a Houston private equity firm has acquired two vehicle components manufacturers. Dexter — part of DexKo Global — has acquired Ingersoll Axles’ assets that build heavy duty axles and suspension syst...

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