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(World Oil) –Crescent Energy has closed the sale of its non-operated Permian basin assets to a private buyer for $83 million in cash, the company announced Tuesday. The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil).
Denver-based Tejon Treating and Carbon Solutions said recently it completed Phase II expansion of its Mongoose amine treating plant and gas gathering network to accommodate rising production of sour gas. The post Tejon completes Phase II expansion of Mongoose plant in Mitchell County appeared first on Permian Basin Oil and Gas Magazine.
s Westcoast natural gas pipeline system for CA$715 million (US$511 million) — a landmark deal that represents the first transaction backed by Canada’s new federal Indigenous loan guarantee program. The deal marks Enbridge’s fourth equity partnership with Indigenous groups, and its first involving a natural gas pipeline.
Denver-based Tallgrass said last week it completed anchor shipper agreements for a new pipeline that will transport natural gas from multiple points in the Permian Basin to the Rockies Express pipeline and other points of delivery. Pipeline capacity is designed for up to 2.4 Target in-service date is late 2028.
Houston-based Plains All American Pipeline said recently it acquired the Permian Basin crude oil gathering system of Black Knight Midstream. Plains also acquired the remaining 50 percent interest in Cheyenne Pipeline in southeast Wyoming and completed a debottlenecking project at a fractionation complex in Edmonton, Canada.
MARCELLUS/UTICA REGION: Delaware Basin fracking ban based on junk science; Seneca Resources donates truck to Tioga County emergency responders; OTHER U.S.
Houston-based Phillips 66 said last week it completed the previously announced acquisition of EPIC Y-Grade GP and EPIC Y-Grade for $2.2 The post Phillips 66 completes deal for EPIC NGL assets, including pipeline from Permian appeared first on Permian Basin Oil and Gas Magazine.
Horizontal Drilling in Legacy Rock Blackbeard is proving that the Central Basin Platform still holds significant potential. Strategic Takeaways Reinventing Legacy Plays Blackbeard’s YTD well count shows confidence in a basin most considered depleted.
May 27, 2025 The Hugh Brinson Pipeline, a major natural gas infrastructure project led by Energy Transfer LP , continues to move forward as key regulatory approvals are secured. Developer : Energy Transfer LP via its affiliate Hugh Brinson Pipeline LLC. Phase II (Planned) : Additional compression facilities to expand capacity to 2.2
The Permian Basin continues to be a driving force behind U.S. Heres a breakdown of what was said about the companys investments and outlook for the basin. Heres a breakdown of what was said about the companys investments and outlook for the basin. oil and gas production, and ONEOK Inc. Bcf/d in 2025.
2 The forecast total capital expenditure for the LNG project, pipeline and management reserve is US$17.5 The marketing opportunities Louisiana LNG offers across the Pacific and Atlantic Basins leverages Woodsides proven LNG marketing capabilities and complements our established position in Asia. Pipeline cost is $1.1
One of the most innovative approaches Coterra is utilizing is its ‘row developments’ strategy , particularly in the Permian Basin. Coterra’s operations in the Permian Basin leverage their highly contiguous acreage position to implement sizable and highly efficient projects known as row developments.
The pipelines carrying crude oil from the Permian Basin in West Texas to the Corpus Christi area have been as jammed as an urban highway on the Friday before Memorial Day weekend. In todays RBN blog, well discuss what this project means for pipeline congestion and crude exports out of Corpus and nearby Ingleside.
Several major basins, including the Permian and Eagle Ford, recorded new lows. According to the latest Baker Hughes report, the total number of active rigs fell by 4 to 559, the lowest level since November 2021. Oil rigs drove the decline with a loss of 9, while gas rigs rebounded with a gain of 5. Here is a summary of the U.S.
The Program Area consists of counties located in theWilliston Basin, although both parties may consider opportunities in otherRocky Mountainbasins upon mutual consent. The Transaction contemplated by the Agreement positions Zephyr to capitalise on a robust pipeline of opportunities across theWilliston Basin.
20 it completed its new Greenwood II plant in Midland Basin (275 million cfd) and its new Train 10 fractionator in Mont Belvieu (120,000 b/d). Also Targa recently commenced operations of its Bull Moose plant (275 million cfd) and front-end treater (800 million cfd) in Delaware Basin. Targa said Feb. billion to $2.8
Pipeline transportation volumes rose 6 percent to 13.2 Teague said Enterprise has growth projects valued at $6 million scheduled for completion in 2025, including two natural gas processing plants in the Permian Basin in 3Q. Total fee-based natural gas processing volumes increased 12 percent or 760 million cfd to a record 7.2
Kinder Morgan has unveiled plans to construct the Trident Intrastate Pipeline, a $1.7 The pipeline will have a capacity of 1.5 July 2024 : WhiteWater Midstream announced the Blackcomb Pipeline, a 2.5 Bcf/d capacity project connecting the Permian Basin to the Agua Dulce hub. It is scheduled for completion in late 2026.
Houston-based Northwind Midstream Partners said last week it has constructed and placed into service 150 million cfd of high-circulation amine capacity, two acid-gas disposal and carbon sequestration wells, more than 200 miles of large-diameter pipelines, and 41,750 horsepower of compression at five compressor stations.
The Permian Basin is seeing output contraction and rig pullback despite being the top U.S. million bpd ( from 6.57 million bpd in March) Macro Commentary This marks the third consecutive weekly decline in rig activity, driven by oil price pressures and a strategic shift by operators toward shareholder returns over production growth.
Pipeline Connectivity : The terminal is connected to the Eagle Ford JV Pipeline, facilitating efficient transportation of crude oil to downstream markets. The entire expansion was completed within six months, from January to May 2018.
The Permian Basin, in particular, saw a notable drop, reaching its lowest rig total since February 2022. While Oklahoma, New Mexico, and several other key states held steady in drilling activity, the national rig count dipped againdriven largely by a sharp decline in natural gas rigs.
NGL Energy Partners LP has completed a series of non-core divestitures totaling approximately $270 million , including the sale of 17 NGL terminals, its Green Bay terminal, a refined products marketing business, crude railcars, and ownership in Limestone Ranch. refining network.
You are probably aware that the water problem in the Permian Basin is direit is the desert, after all. Disposal of produced water in the past was largely a matter of just pumping it back down underground, as is seen in the proliferation of SWDs (Salt Water Disposals) that dot the landscape in the Permian Basin. Not even on eBay.
Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? oil & gas basins , the leading companies , and market trends using the latest data and forecasts. In 2024, Ecopetrol invested $880 million into drilling new wells, with 91 wells planned for completion in 2025.
NYSE American: REI) has officially closed its acquisition of Central Basin Platform (CBP) assets from Lime Rock Resources, adding ~17,700 net acres in Andrews County, Texas to its growing Permian Basin footprint. LNG sector, Cheniere Energy has completed its 4,000th liquefied natural gas (LNG) shipment. Ring Energy, Inc.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. ExxonMobils first-quarter 2025 results reveal a clear narrative: U.S. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2025 , a sharp increase from $1.05 billion in Q1 2024.
natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. Haynesville Basin: The Right Time to Ramp Up The Haynesville Basin, located in eastern Texas and northwestern Louisiana, has long been a critical natural gas-producing region. BP is doubling down on its U.S.
What Devon Said About Drilling, Rigs, and Completions Devons capital activity in the first quarter averaged 23 operated drilling rigs and 6 completion crews… 136 gross operated wells were placed online, with an average lateral length of 10,700 feet. per Boe, total production cost at $12.42
Rig Count Drops Again But Production Still Forecast to Rise For the week ending May 16: U.S. bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9
Key Processes: Exploration, reservoir analysis, drilling, well completion, and production. Key Processes: Transportation via pipelines, rail, trucks, or ships; storage in tanks or other facilities; and marketing for wholesale distribution. This includes both onshore and offshore activities.
We are already seeing increasing power needs across several of our natural gas pipelines driven by AI, data center and power plant growth. Given our extensive natural gas pipeline network, particularly in Texas and Oklahoma, we believe that Energy Transfer is one of the best positioned companies in the industry to help meet this demand.
This was primarily due to higher throughput and higher rates across our Gulf Coast and Mariner East pipeline operations and we also had strong NGL exports and increased profits from the optimization of hedged NGL inventory. The increase was primarily due to increased gains related to pipeline and storage optimization opportunities.
The terminal is already 95% complete , and the startup timeline points to a mid-2025 launch for exports. Export Operations Expected by Summer 2025 Once operational, LNG Canada will begin shipping LNG cargoes every two days , each shipment valued at $150 million to $220 million.
Regional drilling activity remains mixed, with the Permian Basin and Eagle Ford experiencing slight declines, while other areas such as Oklahoma and Louisiana are showing growth. Regional Breakdown : Permian Basin : Declined by 1 rig to 300, down by 15 rigs compared to last year. Natural gas output is forecasted to reach 105.2
Texas and New Mexico, the largest basins, remain flat week-over-week. Broader rig activity remains soft overall , signaling cautious capital spending amid uncertain commodity prices and tariffs.
Limited access to core acreage in basins like the Permian has prompted landmark deals, including ExxonMobils acquisition of Pioneer Natural Resources and Chevrons purchase of Hess Corporation. PERMIAN BASIN: OPTIMIZING RECOVERY IN A MATURE PLAY The Permian Basin , a cornerstone of U.S. Currently, at $2.75/MMBtu,
Gas drilling activity could increase in response to a projected rise in gas prices, potentially benefiting gas-heavy basins like the Marcellus and Haynesville. Key Takeaways The rig count decline is modest , suggesting a more stable period after recent additions.
The real Achilles heel of the whole thing is that the market is completely artificial, he declared, alluding to the fact that this niche leans heavily on government-mandated carbon credits and Inflation Reduction Act funding to cover costs. For enhanced oil recovery (EOR) it goes in a known direction, into the pipeline.
Pioneer Natural Resources USA, Inc. ("Pioneer"), a natural gas producer operating in the Permian Basin, entered into a firm contract with MIECO, L.L.C. ("MIECO"), an energy trading firm. ” Section 11.2:
As a whole, the oil patch is a tight-knit community, especially in the Permian Basin, where almost everyone is in the business one way or another. A Lot of Help from My Friends At this point the big question revolves around how a completely solo welder becomes a significant entrepreneur and manages a rapidly growing business.
poised to expand LNG export capacity , interest in gassy basins has surged. EOG also launched the 1 Bcf/d Verde Pipeline, linking Dorado gas directly to the major Agua Dulce gas hub, enhancing market access. South Texaswith proximity to Gulf Coast terminals and existing pipeline infrastructureis uniquely positioned to meet this demand.
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