Texas oil producers gathered in Irving, Texas, for two days for the 2019 Texas Alliance Expo and Annual Meeting. This year's event took place at the Irving Convention Center and was co-hosted by IPAA. The general sessions touched on everything from the economic outlook for Texas oil and gas and federal regulations to hedging for independents and property transfers.
Hart Energy’s Len Vermillion was in Irving and joined Jessica Morales by phone to discuss takeaways from this year’s conference.
BHP Billiton Petroleum (Deepwater) Inc. had the highest bid of the day at $22.5 million for Green Canyon block 124.
The new United Conservative Party government doubled an exemption threshold in the curtailment policy to 20,000 barrels per day, eliminating constraints on 13 companies whose output falls below that level.
The minister, Tarek al-Molla, said in a statement that the current production level was reached four months ahead of schedule. There are now 12 wells in production in the field, the statement said.