With the onset of unconventional technology and hydraulic fracturing, Texas is, figuratively speaking, engaged in producing a sequel to the film

Giant. Elizabeth Taylor, Rock Hudson and James Dean may not be around any longer, but the rugged terrain and the footprint of oil are omnipresent.

Yet, the state that claims the Permian Basin and the Eagle Ford and Barnett plays is mired in a technology that is almost two decades old. The state’s ability to process permits and document drilling is as flat as the Texas prairie.

The Texas ...