The Permian paradox: Texas shale players go green to drill more [Reuters]
Occidental Petroleum Corporation (OXY)
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Source: Reuters
The Permian paradox: Texas shale players go green to drill more - Reuters 5 Min Read HOUSTON/BENGALURU (Reuters) - As the thirst for electricity to power drilling rigs in West Texas drives the state’s energy needs to new highs, oil and gas companies are increasingly relying on wind and solar power to ensure that the shale boom continues. Oil and gas firms operating in the Permian shale basin in West Texas, the nation’s biggest, have been largely behind growth in the area’s energy demand, according to Electric Reliability Council of Texas (ERCOT), which oversees most of the state’s electricity grid. Securing ample, reliable energy supply is critical to sustaining the shale boom that has helped the United States eclipse Saudi Arabia and Russia as the world’s biggest oil producer. Wind and solar farms help oil and gas producers lock in a growing part of that supply in a way that can be easily tailored to their needs as they keep ramping up production, industry experts say. “Gas generatio
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OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- OXY's page on the SEC website