Permian

Piñon Midstream Expands Dark Horse Facility for Sour Gas Treatment, Carbon Capture

(P&GJ) — Piñon Midstream has enhanced the sour gas treatment capacity at its Dark Horse Facility in the Delaware Basin with a second AGI well, enabling up to 500 MMcf/d treating capacity.

US Shale's Muted Reply to OPEC Oil Cuts to Limit Supply, Executive Says

Muted increases in U.S. oil production and cuts by the OPEC+ producing-nations group will limit crude supply in the months ahead, pushing up prices, an executive at U.S. shale producer EOG Resources said on Wednesday.

EIA: US Oil Output to Rise to Record High in July But Growth Narrowing

Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise by 1,000 bpd to a record-high 5.76 million bpd. That would be the smallest monthly increase for the region since February.

NET Power, Rice Acquisition Merge to Accelerate Clean Natural Gas Power Generation

(P&GJ) — Occidental's president and CEO, Vicki Hollub, expressed confidence in NET Power's transformative technology, stating that it aligns with Occidental's net-zero ambitions by delivering nearly emissions-free power to their Permian Basin operations and upcoming direct air capture sites.

Shale R&D Cuts Cast Shadow on Future of US Oil Production

Shale technology advances that propelled the U.S. to the top global oil producer spot with world-beating growth rates are falling fewer and farther between as drilling budgets shrink and with them, the research and development that might deliver the next great leap.

EIA: Texas, New Mexico Led US Crude Oil Production Last Year

(P&GJ) — U.S. crude oil production grew 5.6%, or 0.6 million bpd, in 2022 compared with 2021, averaging 11.9 million bpd, according to the U.S. Energy Information Administration (EIA). The two states the Permian Basin spans—Texas and New Mexico—contributed the most growth to U.S. crude oil production in 2022.

US Permian Natural Gas Flaring Could Rise in 2024, Report Shows

Natural gas flaring in the top U.S. shale basin is poised to increase next year, a report released on Tuesday projected, as the region's output exceeds available pipeline capacity.

EIA: US Shale Production Set to Rise to Highest on Record in June

U.S. oil output from the seven biggest shale basins is due to rise in June to the highest on record, data from the Energy Information Administration showed on Monday. Oil output is set to rise by 41,000 barrels per day (bpd) to 9.33 million bpd, the EIA said.

Record US Crude Exports, Rising Shale Output Boosts Oil Flow to Houston

Oil pipelines from the top U.S. shale field to Houston that have run half empty are filling again as rising output has absorbed most of the space on lines to the main south Texas export hub in Corpus Christi.

Texas Waha Natural Gas Prices Turn Negative on Low Spring Demand

Spot natural gas prices for Wednesday at the Waha hub in the Permian Shale in West Texas fell into negative territory as pipeline maintenance prevented some gas from leaving the basin and mild spring weather reduced demand for the fuel.

Plains All American’s Oil Pipeline Volumes Rise 16% From Permian Basin Growth

The pipeline and storage company is the latest company to benefit from oil production from the Permian Basin, spread across Texas and New Mexico, and said it does not see any material change in expectations to its Permian production estimates amid worries of a slowdown in growth.

Enterprise Products' Oil Pipeline Volumes Rise on Permian Basin Output Growth

Enterprise has remained bullish on oil production from the Permian basin, spread across Texas and New Mexico, and is looking to build a crude oil export terminal on the Gulf Coast to help push some of those barrels into the foreign market.

MPLX Reports Boost in Total Pipeline Throughputs in Q1 2023

The company's overall gathered volumes averaged 6.4 billion cubic feet per day (Bcf/d), a 21% increase from the first quarter of 2022, it said. Gathered volumes in the Marcellus in Pennsylvania averaged 1.4 Bcf/d, or a 4% increase. Additionally, it announced that it is working to expand natural gas long-haul and crude gathering pipelines for the Permian and Bakken basins.

Shell's Zydeco Pipeline Shut on April 25 After Oil Leak

Shell Pipeline Co.'s Zydeco oil pipeline — which alleviates transportation bottlenecks of crude arriving in Houston from the Eagle Ford, Permian and Bakken regions — was shut on April 25 after a limited release of crude oil was detected in the Intracoastal Waterway.

Kinder Morgan Beats Profit Estimates on Higher Natural Gas; Permian Pipeline Expansion Delayed

Kinder Morgan Inc. on Wednesday beat profit expectations for the first quarter as the U.S. pipeline operator transported higher volumes of natural gas primarily from Haynesville and Eagle Ford systems.

Japan's Mitsui Buys US Gas Asset in 'Pragmatic Solution' for Energy Transition

Japan's Mitsui & Co. Ltd. has bought a 92% stake in an unconventional gas asset in Texas and plans to promote its gas business as a "pragmatic solution" for the energy transition, it said on Thursday.

Permian In Spotlight as Energy Dealmaking Gathers Steam

Companies with a focus on the oil-rich Permian basin are likely to be at the center of the next wave of consolidation in the U.S. energy sector as favorable oil prices prompt cash-rich drillers to tap into the largest source of shale oil.

Pioneer Natural Jumps on Report of Buyout Talks with Exxon

Pioneer Natural Resources Co.'s shares rose as much as 8.5% on Monday following a report that Exxon Mobil Corp. held preliminary talks with the U.S. shale oil producer about a possible acquisition.

WSJ: Exxon Eyes Potential Purchase of Shale Driller Pioneer

Exxon Mobil Corp. has held preliminary talks with Pioneer Natural Resources Co. about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Sources: New Exxon Beaumont, Texas Crude Unit Completes Startup

The new 250,000 bbl/d Crude C CDU lifts the Beaumont refinery's capacity to 619,024 bbl/d, second only to the Motiva Enterprises refinery in nearby Port Arthur, Texas, the people said.

EIA: US Crude Output Rose in January to Highest Since March 2020

The EIA said that among the top oil-producing states, monthly output in Texas rose 1.5% to 5.24 million bbl/d, the highest since March 2020. In North Dakota, output jumped 10.2% to about 1.05 million bbl/d, the highest since November 2022.

Sources: Ovintiv Nears $4 Billion Deal to Acquire EnCap’s Permian Oil, Gas Assets

Ovintiv Inc. is nearing a deal to acquire oil exploration and production assets in the Permian Basin that are controlled by private equity firm EnCap Investments for about $4 billion including debt, people familiar with the matter said on Sunday.

Fed Survey: Activity in Top US Oil Fields Stall, Outlook Sours

U.S. oil and gas activity stalled in the first quarter as production gains slowed and drillers' outlooks turned negative, according to a survey released on Wednesday by the Federal Reserve Bank of Dallas.

Energy Transfer to Acquire Lotus Midstream for $1.5 Billion, Adding 3,000 Miles of Permian Pipeline

By purchasing Lotus Midstream, Energy Transfer will gain the Centurion Pipeline and an additional 3,000 miles of crude gathering and transportation pipelines that stretch from New Mexico through the Permian Basin of West Texas to Cushing, Oklahoma.

EIA: US Shale Production Set to Rise to Highest Since December 2019 in April

Shale production is expected to rise by 68,000 barrels daily — the slimmest rise since December 2022 — to 9.21 million bbl/d, the EIA data showed. Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.62 million bbl/d.

Occidental to Use Siemens Energy Compressors at Direct Air Capture Plant in Permian Basin

(P&GJ) — Siemens Energy compressors will be used at Occidental’s first large-scale Direct Air Capture plant in Texas’ Permian Basin, the company announced on March 6. The equipment will compress the captured CO2 for additional processing and pressurize the final product into a pipeline for injection into underground reservoirs.

Oilfield Services Firm Atlas Energy Aims for $2 Billion Valuation in US IPO

The company provides logistics services to customers in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. It plans to raise $414 million in an offering priced between $20 and $23 per share.

Expanding Gas Infrastructure Presents Alternative to Permian Constraints

(P&GJ) — Oil is still serious business in the Bakken Shale, but when it comes to midstream, the money is on natural gas. As in the Permian Basin, oil production in the Williston has a high rate of associated natural gas. But the Bakken’s residual gas is rich in natural gas liquids (NGLs), and that requires infrastructure generally more akin to North Texas’ Barnett Shale than West Texas’ Permian.

Chesapeake Energy to Reduce Drilling on Lower Natural Gas Prices

U.S. natural gas producer Chesapeake Energy on Wednesday said it would pull back on drilling and completing wells this year as natural gas prices fell to a quarter of what they were last summer.

Pipeline Operator Magellan Says Permian Crude Flows to Houston Will Rise

U.S. pipeline operator Magellan Midstream Partners LP on Thursday predicted crude oil flows from the Permian Basin will shift toward Houston as shale production rises and lines to export hub Corpus Christi fill.