An auction of federal oil and gas leases last week in New Mexico and Texas attracted far less interest from drillers than recent sales, according to Reuters. U.S. Bureau of Land Management sold 93 land parcels (primarily in NM) covering more than 45,000 acres Aug. 27 after a smaller sale of 2,800 acres Aug. 26. […]
Phillips 66 Partners to expand Gray Oak pipeline from west Texas
Houston-based Phillips 66 Partners said this week it will expand the Gray Oak pipeline and add a destination in Victoria County. There will be new takeaway capacity from west Texas to be placed into service in first half of 2022. Gray Oak pipeline achieved full service in 2020Q2 and supplied the first crude oil to […]
San Mateo completes expansion of Black River processing plant
Dallas-based San Mateo Midstream said Tuesday it completed and successfully placed in service an expansion of Black River cryogenic natural gas processing plant in Eddy County, N.M. The expansion adds inlet capacity of 200 million cubic feet of natural gas per day to the existing inlet capacity of 260 million cubic feet per day for […]
Energy Transfer completes expansion of Lone Star Express pipeline
Dallas-based Energy Transfer said Tuesday it completed expansion of Lone Star Express pipeline on budget and ahead of schedule. The pipeline adds 400,000 barrels per day of NGLs to Energy Transfer’s existing Lone Star NGL pipeline system in Texas. The new 352-mile pipeline (24 inches) originates in Winkler County and connects into the existing Lone […]
Opinion: Basin O&G Weathers Opposing Sentiments
Was there ever a more schizophrenic year for oil and gas? The tumults of 2020 have kept markets in disarray and left analysts and observers divided. Opposing forces keep tugging at the industry, hindering any straight-line improvement. On one side, there is the Environmental, Social, and Governance (ESG) movement, with its emphasis on what it […]
RRC Inspections Continue on PHP
Inspectors with the Railroad Commission of Texas are continuing critical inspections of the Permian Highway Pipeline (PHP), one of the largest pipeline projects under construction in Texas in 2020. Stretching more than 400 miles from the Permian Basin to the Houston area, the pipeline will bring West Texas’ natural gas to the world market. Given […]
Oilfield Services Pressured By Plummet in Oil Price
Exploration-focused oilfield service (OFS) companies will be the sector facing the largest demand decline as a result of oil and gas producers cutting their capex and operating expenditure, followed closely by drillers, Fitch Ratings says. The impact will be felt across the entire OFS sector, but diversified companies and service providers working in regions with […]
OleumTech Opens Midland Office
OleumTech, a provider of wireless industrial automation and IoT solutions, announced in July the opening of a new office in Midland with a training facility that the company describes as state-of-the-art. The office will primarily accommodate and support customers in the region. The new location will house a full display of OleumTech products for demonstrations […]
Global O&G Deals Reach $28B in Q2
Total oil and gas industry deals for the second quarter of 2020 were worth $28 billion, according to a July 29 report from GlobalData. The value marked an increase of 106 percent over the previous quarter and a drop of 68 percent when compared with the last four-quarter average of $88 billion. In terms of […]
Economic Outlook for the United States
by The Perryman Group The U.S. job market has recently shown signs of recovery, though total employment remains well below pre-Covid-19 levels. The most recent U.S. jobs reports indicate gains of 2.7 million jobs in May and 4.8 million in June, with a decrease in the unemployment rate from 14.7 percent in April to […]
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