Two extremes are currently playing out in the Permian Basin. Drillers are reaping the benefits of a historic price rally due to the Iran war. But when it comes to natural gas, they’re having to pay customers to take it away.
The Railroad Commission of Texas (RRC) assessed more than $1.1 million in enforcement penalties against operators and businesses during its latest open meeting, continuing the agency’s oversight of the state’s oil and gas industry and intrastate pipeline systems.
Curious Minds Corner
How many Olympic-sized swimming pools get filled daily by global oil production?
About 60, as daily output hits 100 million barrels (each pool holds ~660,000 gallons).