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Two New Refineries Planned in Texas

The shale boom has not gone unnoticed by refiners, as two companies are looking to Texas to join some of the biggest plays in the United States. MMEX Resources (ticker: MMEX) and Raven Petroleum both have recently announced their intentions to build refineries in Texas to take advantage of the shale oil production boom. On March 7, MMEX Resources announced…

Texas drilling, oil field hiring accelerates in first quarter

Texas drillers pumped more crude and service companies expanded payrolls faster in the first quarter, the Dallas Fed said Wednesday, the latest sign the industry is emerging from a two-year downturn. The acceleration in drilling and oil field hiring marks a vast improvement for the Texas oil industry. This time last year, U.S. oil prices dove to the lowest point…

Land Swaps Let Permian Drillers Expand Shale Wells on the Cheap

Horizontal drilling in the Permian Basin is creating a new kind of swap meet. Working with fresh technology that lets producers drill longer wells than ever before, companies such as Pioneer Natural Resources Co., Parsley Energy Inc. and Double Eagle Energy Permian LLC are increasingly haggling with other producers for slivers of land that allow them to extend the reach…