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percent interest in Delaware G&P, Delaware Basin joint venture, from NGP XI Midstream Holdings for $940 million ($530 million cash). Delaware Basin JV owns natural gas gathering and processing facilities in Delaware Basin in west Texas and southeast New Mexico with total processing capacity of more than 700 million cubic feet per day.
The EPIC CrudePipeline, which stretches from the prolific Permian Basin in West Texas to Corpus Christi, has operated above its original nameplate capacity for more than a year, with volumes rising in recent months. Owner EPIC Midstream in April sold its NGL pipeline to Phillips 66 for $2.2
Houston-based Plains All American Pipeline said recently it acquired the Permian Basincrudeoil gathering system of Black Knight Midstream. Chris Chandler, COO, said of the Black Knight asset, Its in the absolute core of the northern Midland Basin. The $55 million deal closed May 1.
The pipelines carrying crudeoil 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.
(Oil Price) –Canadas pipeline giant Enbridge Inc. reported on Friday record quarterly earnings for the first quarter of the year as it moved a record-high volume of liquids on its huge Mainline pipeline system in North America. In total, Enbridge moves 40% of all North American crude. billion (C$2.2
The Hacksaw CrudeOil Terminal, operated by EVX Midstream Partners, is a significant midstream infrastructure asset located in Tilden, McMullen County, Texas. Pipeline Connectivity : The terminal is connected to the Eagle Ford JV Pipeline, facilitating efficient transportation of crudeoil to downstream markets.
The Permian Basin continues to be a driving force behind U.S. oil and gas production, and ONEOK Inc. 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. Bcf/d in 2025.
Several large, publicly held midstream companies play critical roles in transporting crudeoil, natural gas and NGLs from the Permian Basin to markets along the Gulf Coast, and all of them are investing hundreds of millions or even billions of dollars to expand their Permian-to-Gulf infrastructure.
In January, APA said it reduced production by about 23,500 barrels of oil equivalent per day (boepd) in the fourth quarter. This reduction followed similar cutbacks in the previous three quarters, implemented due to ongoing low natural gas prices in the Permian Basin. to be $2 per thousand cubic feet (Mcf) and $4.15
Phillips 66 is making big moves in the Permian Basin , a critical hub for U.S. During their Q4 2024 earnings call , the company outlined how strategic acquisitions, processing expansions, and pipeline investments will drive growth in their Midstream business and position them to capitalize on rising NGL and crude demand.
Yet, the Shale Revolution has impacted the Rockies as much as any other region, boosting production in the Denver-Julesburg (DJ) and Uinta basins, and the Montana portion of the Bakken. In todays RBN blog, well look at how PADD 4 dispenses these barrels and its role in balancing continental crudeoil supply and demand.
The Libyan government has officially launched the 2025 bid round for oil exploration, a long-anticipated move that marks a significant milestone in the countrys efforts to revitalize its energy industry. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
Pipeline transportation volumes rose 6 percent to 13.2 million barrels per day of NGLs, crudeoil, refined products and petrochemicals. 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.
Energy Transfer’s latest earnings call highlighted record-breaking production in the Permian Basin, strategic midstream and pipeline investments, and surging global demand for LNG, LPG, and NGL exports. Permian Basin: Unprecedented Growth Driving Midstream Expansion The Permian Basin continues to be the dominant driver of U.S.
What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crudeoil and natural gas from underground reservoirs. Midstream activities involve the transportation, storage, and wholesale marketing of oil and gas. This includes both onshore and offshore activities.
Permian Basin: The Backbone of U.S. Production The Permian Basin remains the most productive oil and natural gas field in the U.S. With expected crudeoil output increasing to 6.6 With expected crudeoil output increasing to 6.6 million barrels per day and natural gas production reaching 25.8
Leading companies are aggressively expanding and integrating their gathering, processing, pipeline, and export infrastructure. This “Wellhead to Water” strategy is particularly evident in the Permian Basin, where crudeoil, natural gas, and natural gas liquids (NGLs) production is growing rapidly.
We also saw record performance in crudeoil transportation volumes (up 25%), midstream gathered volumes (up 6%), NGLs produced (up 26%), and NGL fractionation volumes (up 12%) and transportation volumes (up 4%). The increase was primarily due to increased gains related to pipeline optimization opportunities.
Grand Mesa Pipeline The divestitures fit into a multi-quarter effort by NGL to simplify its business and emphasize more predictable, fee-based midstream revenue. In particular, the company is placing renewed emphasis on the Grand Mesa Pipeline , its flagship crudeoil system serving producers in Colorados Denver-Julesburg Basin (DJ Basin).
We also saw strong performance in interstate natural gas transportation volumes (up 3% – a new Partnership record), crudeoil transportation volumes (up 10%), NGL transportation volumes (up 4%), NGL and refined products terminal volumes (up 4%), NGL exports (up 5%) and midstream gathered volumes (up more than 2%). pipe mills.
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. However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5 crudeoil investments.
Together, we will expand our pipeline of carbon capture, utilization and sequestration projects to help meet the increasing demand for low-carbon energy solutions.
The Permian Basin continues to solidify its role as the driving force behind U.S. oil and gas production. Enterprise Products Partners LP , a leading midstream operator, is taking a strategic approach to expansion , focusing on pipeline investments, LNG and LPG exports, and securing fee-based revenue to ensure long-term stability.
AI models analyze real-time data from drilling sites, pipelines, and refineries, adjusting operations to optimize production and efficiency. AI-powered systems can fine-tune extraction techniques, monitor pipeline integrity, and adjust refinery processes to maximize output while reducing the risk of inefficiencies.
natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. CEO Murray Auchincloss, speaking at the CERAWeek conference in Houston, highlighted the companys renewed focus on oil and gas, marking a strategic pivot from its previous emphasis on renewable energy. BP is doubling down on its U.S.
The combined company becomes the largest Canadian light oil focused producer and the seventh largest producer in the Western Canadian Sedimentary Basin, with significant natural gas growth potential. times net debt/funds flow, which is expected to continue to further strengthen to 0.8
Our 2023 Corporate Responsibility Report highlights our successes, including our operational results, pipeline safety programs, risk management, and emissions reduction programs, among others. billion in organic growth projects, including an eighth fractionator at Mont Belvieu NGL Complex and a new processing plant in the Permian Basin.
We also saw strong performance in crudeoil transportation volumes (up 15%), NGL transportation volumes (up 5%), NGL exports (up 2%), midstream gathered volumes (up 2%) and interstate natural gas transportation volumes (up 2%). The increase was primarily due to increased gains related to pipeline and storage optimization opportunities.
The slight recovery in drilling activity comes amid a challenging environment of fluctuating oil and gas prices, ongoing market uncertainties, and shifting priorities among energy companies. Energy Information Administration (EIA) projects continued growth in both crudeoil and natural gas output throughout 2025.
This trend aligns with industry shifts over the past couple of years, as lower oil and gas prices have led operators to prioritize shareholder returns, debt reduction, and capital efficiency over aggressive production increases. crudeoil production will rise from a record 13.2 million barrels per day (bpd) in 2024 to around 13.6
According to just-released data from the Environmental Protection Agency, methane emissions across all major oil and gas basins in the U.S. This has occurred even as our country continues to produce more crudeoil than any other nation ever has. have fallen 44 percent since 2011. Also of note are advancements U.S.
Read more 25% royalty rate cap on prime oil and gas land heads to the House Summary : The New Mexico Senate passed Senate Bill 23 in a 21-15 vote, advancing legislation to raise the maximum royalty rate on prime oil and gas land in the Permian Basin from 20% to 25%. crudeoil inventories increase by 4.6
The Oil Industry of Nigeria If anyone asks Chevron or Shell, for example, how they feel about Nigeria, the response would probably be that they were tired of problems, at least if they were honest. Production grew fast, and today, Nigeria pumps close to 2 million BPD, which makes it the largest producer of crudeoil in Africa.
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:
Natural Gasoline (C5+ or Pentanes Plus): A component in motor fuel blending, a diluent for heavy crudeoil, and an industrial solvent. Efficient natural gas liquid separation is crucial for meeting natural gas quality specifications for pipeline transportation and end-use.
It was another exciting and successful year for Energy Transfer and Sunoco, with everything from impactful acquisitions and a major pipeline deal to sports sponsorships and record-breaking donations. 2024 is almost in the books! As we wind down the remaining days until the New Year, lets take a look back at some of the highlights of 2024.
(Oil Price) –U.S. midstream companies are hesitant to commit to new pipeline builds amid market volatility and tariff uncertainty. shale basins. So far this year, indications are that oil and gas producers are scaling back drilling activity with prices at or below breakevens for putting in line a new well.
Meanwhile, negotiations to restart Kurdish oil exports through the Iraq-Turkey pipeline stalled due to unresolved payment and contract issues. Oil rigs fell by two to 484, while gas rigs increased by one to 103, bringing the total rig count 5% lower than the same period last year. Read more Peak Permian?
energy production faced challenges from restrictions on federal land leases, the revocation of key pipeline projects, and limitations on exports. Meeting Energy Demand and Supporting National Interests Beyond the financial incentives, Trumps energy policies are expected to revive American energy independence, supporting U.S.
WTI holds above $70 amid Russia-Ukraine peace talks Summary : WTI crudeoil remains cautiously above $70 as investors await further developments in the Russia-Ukraine peace talks, which could potentially flood the market with more Russian oil and negatively affect prices. Stay tuned for weekly updates to keep you well-informed.
Energy Independence on the Horizon During his first term, Trump championed policies that helped the United States achieve energy independence while becoming a net-exporter of crudeoil. crudeoil production became number one in the world , surpassing Saudi Arabia and Russia. In 2018, U.S.
Additionally, industry advocates are urging for permitting reform seeking expedited approval of interstate pipeline development and infrastructure projects as a national security priority.
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