This week on the Texas Oil and Gas Podcast we start things off with a look the year over year improvement the market has made. Then we discuss the Texas Oil Market which has added 30,000 jobs over the past 12 months. These numbers are especially relevant to the Texas Economy in General.
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Afterword we focus on an article from the Houston Chronicle. In the article, Houston is projected to add some 70,000 jobs in 2018. Most noteworthy, the article emphasizes the importance of the Oil and Gas market as to the outcome of these projections. If the Oil and Gas market gets off to a slow start, for example, the projections drop all the way to 20,000 jobs for 2018 rather than 70,000.
Next, is our Permian Roundup for the week. We first discuss diamondback buying $100 million worth of acreage and their aggressive strategy so far this year. Intriguing as Diamond back has been, it will be equally as exciting to see the results of their aggressive plays this year. With the same area of interest, but a much different strategy, Apache too has also been investing heavily in the permian with 2/3 of their budget going to developing their Permian assests. They are looking to have a solid 2018.
Lastly, we move to news from the Eagleford. This week, Freedom announces a 30 day average production for first two Horizontal Eagleford Wells. These two wells are said to have exceeded expectations, and with the gas pipeline being finalized and connected to the two wells, oil and gas is now being sold. Furthermore, we expect more optimism in the Eagleford as we finish out the year and expect these horizontal wells to spur on more activity.