HEI- Energy week in review

oilandgas

Exxon CEO prepared for $40 crude

Rex Tillerson, CEO of Exxon Mobil Corp. (NYSE: XOM) said on CNBC last week that the company can withstand crude at $40 a barrel. The company looks at projects as long-term investments and plan for fluctuating commodity prices. Tillerson stated, “What you do is ensure that you can invest and be successful at the bottom of the cycle, we test across a range that’s all the way down to $40 and up to $120.”

Despite declining oil prices, Texas is on the rise

Over the past six months oil prices have fallen about 40 percent, but despite record lows Texas production has seen a resurgence over previous years.

According the Energy Information Administration (EIA), this year Texas produced 3.18 million barrels a day for the first time since the late 1970s. That is a 22 percent increase from last years impressive production of 2.6 million bpd. Read more…

Houston-based Battlecat O&G to invest $220 million in Eagle Ford Shale play

Houston-based Battlecat Oil & Gas, LLC expects to expand into the Eagle Ford Shale play after procuring $220 million from funds managed by Wells Fargo Energy Capital, Lime Rock Partners, and the organizations management team. Read more…

Striking it big in Texas gas

Rod Lewis may not display the 10-gallon swagger you’d expect from a wildcatter. But despite a low-key personality, he’s a risk-taker who has endured the busts of the natural-gas business—and reveled in the booms. Read more…

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