Texas Oil Drilling Permits Rose 34% In April
https://www.rigzone.com/news/wire/texas_oil_drilling_permits_rose_34_in_april-10-may-2018-154571-article/exas's energy regulator issued a third more oil and gas drilling permits in April than a year ago, according to data released on Thursday, as higher prices continue to spur an increase in activity.
The Railroad Commission of Texas, which regulates the state's oil and gas industry, issued 1,221 original drilling permits in April, up around 34 percent from last year.
Oil prices have climbed to near $71 per barrel, the strongest level in nearly 3-1/2 years, aided by production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and declining supplies from Venezuela.
A fresh round of U.S. sanctions on Iran announced this week also is anticipated to take some supply out of the market, further supporting prices....
