Houston-based Enterprise Products Partners said last week crude oil pipeline volumes declined 26.1 percent in 2020Q3 as covid19 pandemic lowered oil prices – leaving midstream companies with fewer barrels to transport after producers curtailed production. Reuters said U.S. pipeline companies have been reducing rates to encourage producers to use their lines as oil transport volumes […]
State of the Energy Markets and the Permian Basin
A keynote address by Bobby Tudor, chairman, Tudor, Pickering, Holt, and Company What follows below is the text (with slides) of Bobby Tudor’s keynote address to the Permian Basin Petroleum Association membership in its virtual (online) Annual Meeting held on Oct. 1, 2020. This transcript is presented minus a minute or so of his opening […]
In for the Long Run
PBPA keynote speaker Bobby Tudor was concluding his talk. He remarked that there are some people—many of them politicians, but some of them just members of the general public—who are just never going to be happy with the oil and gas trade. Said Tudor: “They’re only going to be happy—or they think they’re going to […]
Devon Merges with WPX
Devon Energy and WPX Energy announced Sept. 28 they have entered into an agreement to combine in an all-stock merger of equals transaction. The strategic combination will create a leading unconventional oil producer in the United States, with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. […]
Blackbuck Acquires Water Infrastructure In Transaction with Cimarex Energy
Blackbuck Resources LLC, which designs, builds, and operates water infrastructure, announced it has closed on a transaction to purchase Cimarex Energy Co.’s Whites City water infrastructure in Eddy County, N.M. The acquired assets include approximately 65 miles of pipeline and 100,000 barrels per day of installed and permitted disposal capacity. As part of the sale, […]
Barnett Deal Brings $570 Million
Banpu Kalnin Ventures Corporation confirmed Oct. 2 that its affiliate, BKV Barnett LLC, closed its deal to acquire Devon Energy Corporation’s assets in the Barnett Shale on Oct. 1. The cash deal provides $570 million for the Barnett assets and up to $260 million in contingent payments over the next four years, based on oil […]
Almost $14 Billion for Pipelines At Risk in Post-COVID Recovery
Delays, obstruction, or cancellation of pipeline infrastructure projects are threatening at least $13.6 billion in economic activity, over 66,000 jobs and more than $280 million a year in state and local tax revenue at a time when America’s financial recovery from COVID-19 requires more investment and tax revenue, a new Consumer Energy Alliance report finds. […]
COVID-19 Impacts Industry’s Digital Technology Needs
Ninety percent of oil and gas executives agree that investment in technology and workforce are essential to surviving current market conditions, according to a new Ernst Young survey: Oil and Gas Digital Transformation and the Workforce Survey 2020.” In fact, some 58 percent of respondents said the COVID-19 pandemic has made investing in digital technology […]
Is Upstream O&G Consolidation Really Needed?
By Steve Hendrickson, Opportune/Ralph E. Davis Associates During the last two years, many observers, including me, have suggested that consolidation is needed in the upstream oil and gas industry. Logically, it’s the right response to a commodity-based business exiting a high-growth phase and facing low prices. If you can’t control prices, the thinking goes, then […]
Matador, affiliate San Mateo expect record production, revenue in 2020Q4
Dallas-based Matador Resources and midstream affiliate San Mateo said Tuesday they expect “Matador’s oil, natural gas and total production and San Mateo’s revenues to reach record levels” in 2020Q4 as a result of recent operations. Matador completed and turned to sales the first 6 Rodney Robinson wells in Antelope Ridge and the first 5 Ray […]
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