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drilling rigs and one quarter of drilling rigs worldwide.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", "<span id='quote'>Oil production in the Lone Star State has more than doubled in less than three years, from 1.142 million barrels of oil per day (BOPD) in July 2010 to 2.295 million BOPD in February 2013.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", "<span id='quote'>The exponential increase in Texas oil output over roughly the last three years has completely reversed the previous 23-year decline in the state’s oil production that took place from 1986 to 2009.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", "<span id='quote'>In mid-2009, Texas was producing less than 20% of America’s domestic crude oil. 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ss-nav-menu-item-7 ss-nav-menu-item-depth-0 ss-nav-menu-reg"><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/contact-us/"><span class="wpmega-link-title">Contact</span></a></li></ul></div></div> <div class="sidebarYellow"> </div> <div class="sidebarWhite"> <div class="text"> <div id="content">   <div class="entry"><h1><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/crude-oil-export-ban-the-talk-of-the-industry/">Crude Oil Export Ban the Talk of the Industry</a></h1> <p style="font-size:11px;margin-top:-20px;">Wednesday, March 4th, 2015 and is filed under <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a></p> <p><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/wp-content/uploads/crude-oil-exports.jpg" rel="lightbox-0"><img class="alignleft size-medium wp-image-5679" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20150405033826im_/http://www.arescotx.com/wp-content/uploads/crude-oil-exports-300x200.jpg" alt="Crude Oil Exports" width="300" height="200"/></a>As hearings began on Tuesday for the Energy and Commerce Committee, the oil industry is abuzz with talk of Congress lifting the crude oil export ban that has been in place since the 1970’s. Here are highlights of some of the articles flooding the internet.</p> <p><strong>Crude exports key to U.S. success in 21st century energy market – API.org</strong><br/> <em>“Today’s hearing is not the first to explore U.S. energy exports, but it marks a fresh opportunity for a new Congress to move quickly this year and harness the wide-ranging economic benefits free trade. Our competitors overseas are working hard to lock-in their economic advantages as exporters, and we must act now to ensure U.S. producers can compete effectively for a share of the global market. <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/crude-oil-export-ban-the-talk-of-the-industry/#more-5667" class="more-link">Read More</a></em></p> </div>   <div class="entry"><h1><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/crude-oil-price-plunge-ripples-will-be-short-lived/">Crude Oil Price Plunge Ripples Will be Short Lived</a></h1> <p style="font-size:11px;margin-top:-20px;">Monday, January 26th, 2015 and is filed under <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/permian-basin-oil-news/" rel="category tag">Permian Basin Oil News</a>, <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/uncategorized/" rel="category tag">Uncategorized</a></p> <p><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/wp-content/uploads/crude-oil-price-plunge.jpg" rel="lightbox-0"><img class="alignleft size-medium wp-image-5471" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20150405033826im_/http://www.arescotx.com/wp-content/uploads/crude-oil-price-plunge-300x225.jpg" alt="Crude Oil Price Plunge" width="300" height="225"/></a>With the jarring jolt unleashed from grinding tectonic plates, plunging oil prices have rocked and rolled the energy boom. “<a title="Texas Freaking Out About the Oil Crash" href="https://web.archive.org/web/20150405033826/http://www.businessinsider.com/dallas-fed-manufacturing-december-29-2014-12" target="_blank">Texas Freaking Out About the Oil Crash</a>,” blares the <em>Business Insider</em>. “<a title="Oil boom heading for a bust" href="https://web.archive.org/web/20150405033826/http://www.dallasnews.com/business/energy/20150115-texas-oil-boom-heading-for-bust-in-a-hurry.ece" target="_blank">Oil boom heading for a bust in a hurry</a>,” worries the <em>Dallas Morning News</em>.</p> <p>U.S. Steel is <a href="https://web.archive.org/web/20150405033826/http://www.reuters.com/article/2015/01/22/ussteel-plant-idUSL1N0V030V20150122" target="_blank">idling plants</a> and laying off workers in Ohio and <a href="https://web.archive.org/web/20150405033826/http://www.usatoday.com/story/money/business/2015/01/06/us-steel-layoffs/21346405/" target="_blank">Houston</a> as oil industry demand for pipe, tubing, and well casings dries up. Houston-based oil field services provider Baker Hughes Inc. <a href="https://web.archive.org/web/20150405033826/http://www.bizjournals.com/sanantonio/print-edition/2015/01/23/falling-crude-prices-prompt-layoffs-at-baker.html?iana=ind_energy" target="_blank">will trim 7,000</a> from its ranks. Houston-based Shlumberger Limited, the world’s largest oil field services firm, answered the price crater <a href="https://web.archive.org/web/20150405033826/http://www.wsj.com/articles/schlumberger-profit-falls-on-lower-oil-prices-1421358734" target="_blank">with 9,000 layoffs</a>. <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/crude-oil-price-plunge-ripples-will-be-short-lived/#more-5467" class="more-link">Read More</a></p> </div>   <div class="entry"><h1><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/what-determines-crude-oil-prices/">What determines crude oil prices?</a></h1> <p style="font-size:11px;margin-top:-20px;">Monday, January 19th, 2015 and is filed under <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/oil-and-gas-interesting-facts/" rel="category tag">Oil and Gas Interesting Facts</a>, <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/permian-basin-oil-news/" rel="category tag">Permian Basin Oil News</a>, <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/uncategorized/" rel="category tag">Uncategorized</a></p> <p><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/wp-content/uploads/crude-oil-prices-barrel.jpg" rel="lightbox-0"><img class="alignleft size-medium wp-image-5408" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20150405033826im_/http://www.arescotx.com/wp-content/uploads/crude-oil-prices-barrel-300x225.jpg" alt="What determines crude oil prices?" width="300" height="225"/></a>Ask any U.S. citizen what they notice first as they are driving to work and you can bet most will say “how much is it going to cost me to fill up my tank today”. Predicting daily fluctuations in gas prices with some degree of accuracy can make even the most seasoned gas and oil expert a little crazy, especially with political instability occurring in oil-rich countries and uncertainty about what OPEC is going to do. However, some basic factors do influence the price of crude oil and can be used as relevant variables to determine whether we start the day paying a reasonable $2 or a painfully high $5 for a gallon of gas. <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/what-determines-crude-oil-prices/#more-5406" class="more-link">Read More</a></p> </div>   <div class="entry"><h1><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/will-opec-fueled-price-crater-spell-permian-extinction-not-a-chance/">Will OPEC-Fueled Price Crater Spell Permian Extinction? Not a Chance</a></h1> <p style="font-size:11px;margin-top:-20px;">Tuesday, December 9th, 2014 and is filed under <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/permian-basin-oil-news/" rel="category tag">Permian Basin Oil News</a></p> <p><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/wp-content/uploads/permian-oil-field-roughnecks.jpg" target="_blank" rel="lightbox-0"><img class="alignleft wp-image-5219 size-medium" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20150405033826im_/http://www.arescotx.com/wp-content/uploads/permian-oil-field-roughnecks-300x242.jpg" alt="Permian Oil Field Roughnecks" width="300" height="242"/></a>Much has been made of the recent per barrel oil price plunge, currently hovering below $70. Some speculate OPEC’s recent decision to keep the crude spigot flowing is the cartel’s play to smother America’s great oil boom. Keeping prices low by steadily flushing the market with crude—the thinking goes—<a title="OPEC won't stop US oil production growth" href="https://web.archive.org/web/20150405033826/http://www.cnbc.com/id/102234051#." target="_blank">makes production via fracking and horizontal drilling less viable</a>, triggering a cascade of capital pullback in the oilfield.</p> <p>Sure, there’s room for worry. Oil prices have plummeted more than 30 percent over the last several months. Add in the conventional wisdom that says “tight” oil production from shale ceases to be economical once the $80 per barrel price floor is breached. Question: How low can prices go before North American unconventional investment is throttled and projects start shutting down? Follow-up: Is the conventional wisdom on price even relevant? <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/will-opec-fueled-price-crater-spell-permian-extinction-not-a-chance/#more-5215" class="more-link">Read More</a></p> </div>   <div class="entry"><h1><a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/syria-unrest-in-egypt-and-spiking-oil-prices/">09.11.13 – Syria, Unrest in Egypt, and Spiking Oil Prices</a></h1> <p style="font-size:11px;margin-top:-20px;">Wednesday, September 11th, 2013 and is filed under <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a></p> <p><strong>September 11, 2013 ––</strong> Over the past several days we have seen the dramatic effect events in the Middle East can have on oil prices. As certainty grew that chemical weapons had been used against the Syrian people and US military involvement seemed to be on the horizon, oil prices climbed 6% near record highs over one week. Then as a diplomatic solution seemed possible, prices dropped 2% in one day on 40% higher than normal trading volume. The fact that Syria produces less than 1% of the world’s oil begs the question: <b>Why did events in Syria affect pricing and trading so sharply? <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/syria-unrest-in-egypt-and-spiking-oil-prices/#more-2875" class="more-link">Read More</a></b></p> </div>  </div> <div id="sidebar"> <div id="flags" class="size"><ul id="sortable" class="ui-sortable" style="float:left"><li id="English"><a title="English" class="notranslate flag en"></a></li></ul></div><div id="google_language_translator"></div> <p class="titles">Recent News</p> <ul> <li> <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/arescos-1st-horizontal-well-targeting-woodbine-sand/">Aresco’s 1st Horizontal Well Targeting Woodbine Sand</a> </li> <li> <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/our-office-will-be-closed-friday-april-3rd/">Our office will be closed Friday, April 3rd</a> </li> <li> <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/aresco-vp-supporting-homes-for-our-troops/">Aresco VP Supporting Homes for Our Troops</a> </li> <li> <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/permian-basin-drilling/">Permian Basin Drilling</a> </li> <li> <a href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/office-closed-march-5th/">Office Closed – March 5th</a> </li> </ul> <style scoped type="text/css">.utcw-b1fq2ep {word-wrap:break-word}.utcw-b1fq2ep span,.utcw-b1fq2ep a{border-width:0px}.utcw-b1fq2ep span:hover,.utcw-b1fq2ep a:hover{border-width:0px}</style><p class="titles">Tag Cloud</p><div class="utcw-b1fq2ep tagcloud"><a class="tag-link-54 utcw-tag utcw-tag-anadarko-basin" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/anadarko-basin/" style="font-size:10.8px" title="2 topics">Anadarko Basin</a> <a class="tag-link-43 utcw-tag utcw-tag-bakken-shale" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/bakken-shale/" style="font-size:13.2px" title="5 topics">Bakken Shale</a> <a class="tag-link-35 utcw-tag utcw-tag-barnett-shale" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/barnett-shale/" style="font-size:11.6px" title="3 topics">Barnett Shale</a> <a class="tag-link-68 utcw-tag utcw-tag-bradley-winton" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/bradley-winton/" style="font-size:10.8px" title="2 topics">Bradley Winton</a> <a class="tag-link-20 utcw-tag utcw-tag-brandon-laxton" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/brandon-laxton/" style="font-size:12.4px" title="4 topics">Brandon Laxton</a> <a class="tag-link-46 utcw-tag utcw-tag-brazos-basin" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/brazos-basin/" style="font-size:10.8px" title="2 topics">Brazos Basin</a> <a class="tag-link-63 utcw-tag utcw-tag-bridgetex-pipeline" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/bridgetex-pipeline/" style="font-size:10px" title="1 topic">BridgeTex Pipeline</a> <a class="tag-link-61 utcw-tag utcw-tag-canyon-sandstone" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/canyon-sandstone/" style="font-size:10.8px" title="2 topics">Canyon Sandstone</a> <a class="tag-link-51 utcw-tag utcw-tag-corpus-christi" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/corpus-christi/" style="font-size:10px" title="1 topic">Corpus Christi</a> <a class="tag-link-7 utcw-tag utcw-tag-crude-oil-prices" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/crude-oil-prices/" style="font-size:13.2px" title="5 topics">Crude Oil Prices</a> <a class="tag-link-39 utcw-tag utcw-tag-domestic-oil-production" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/domestic-oil-production/" style="font-size:13.2px" title="5 topics">Domestic Oil Production</a> <a class="tag-link-5 utcw-tag utcw-tag-drilling-technology" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/drilling-technology/" style="font-size:18px" title="11 topics">Drilling Technology</a> <a class="tag-link-10 utcw-tag utcw-tag-eagle-ford-shale" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/eagle-ford-shale/" style="font-size:26px" title="21 topics">Eagle Ford Shale</a> <a class="tag-link-33 utcw-tag utcw-tag-eagle-ford-shale-production" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/eagle-ford-shale-production/" style="font-size:12.4px" title="4 topics">Eagle Ford Shale Production</a> <a class="tag-link-16 utcw-tag utcw-tag-energy-information-administration-eia" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/energy-information-administration-eia/" style="font-size:14px" title="6 topics">Energy Information Administration (EIA)</a> <a class="tag-link-36 utcw-tag utcw-tag-energy-production" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/energy-production/" style="font-size:10.8px" title="2 topics">Energy Production</a> <a class="tag-link-42 utcw-tag utcw-tag-fracking" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/fracking/" style="font-size:13.2px" title="5 topics">Fracking</a> <a class="tag-link-30 utcw-tag utcw-tag-gas-prices" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/gas-prices/" style="font-size:10.8px" title="2 topics">Gas Prices</a> <a class="tag-link-58 utcw-tag utcw-tag-gas-to-liquids" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/gas-to-liquids/" style="font-size:10px" title="1 topic">Gas to Liquids</a> <a class="tag-link-34 utcw-tag utcw-tag-horizontal-drilling" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/horizontal-drilling/" style="font-size:17.2px" title="10 topics">Horizontal Drilling</a> <a class="tag-link-8 utcw-tag utcw-tag-hydraulic-fracturing" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/hydraulic-fracturing/" style="font-size:22.8px" title="17 topics">Hydraulic Fracturing</a> <a class="tag-link-67 utcw-tag utcw-tag-international-energy-agency" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/international-energy-agency/" style="font-size:10px" title="1 topic">International Energy Agency</a> <a class="tag-link-29 utcw-tag utcw-tag-investing-in-texas-oil" href="https://web.archive.org/web/20150405033826/http://www.arescotx.com/tag/investing-in-texas-oil/" style="font-size:12.4px" title="4 topics">Investing in Texas Oil</a> <a class="tag-link-4 utcw-tag 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