Houston-based Crestwood Equity Partners recently said its natural gas processing volumes in Delaware Basin increased 10 percent in 2Q over the previous quarter and reached a quarterly record of 444 million cfd (81 percent of capacity).  The number of new well connects to Crestwood’s gathering systems exceeded expectations in first half 2023 at 143 (73 […]

Denver-based SM Energy said recently it plans to boost drilling and completion activity in 3Q and 4Q as it develops recently acquired acreage in Midland Basin.  SM Energy raised total oil and gas production in 2Q to 14.1 million boe (42 percent oil) to top its target of 13.9 million boe.  The company drilled 17 […]

Tulsa-based ONEOK said last week it is increasing total capital expenditures for 2023 based on the impact of strong producer activity and in part on activities to fully loop the 2,600-mile West Texas NGL pipeline.  That project will more than double ONEOK’s NGL capacity from southeast New Mexico to Mont Belvieu to 700,000 b/d (completion […]

After record production in July, U.S. Energy Information Administration forecasts a decline in crude oil production in 7 major regions in September for the second straight month.  EIA said Monday in its latest drilling productivity report that production in September is expected to be 9.415 million b/d – a decline of 20,000 b/d from 9.435 […]

Oklahoma City-based natural gas producer Chesapeake said Monday it is selling its remaining assets in Eagle Ford to Houston-based SilverBow Resources for $700 million to complete its exit from the south Texas basin.  Chesapeake’s asset sales in the basin generated total proceeds of more than $3.5 billion. Chesapeake said last year the Eagle Ford acreage […]

U.S. Energy Information Administration reported last week that financial results for 40 publicly traded U.S. oil exploration and production companies show capital expenditures in 2023Q1 increased from 2022Q4 even though cash from operations declined. In 1Q lower crude oil prices reduced cash from operations for these companies; it declined 18 percent ($5.8 billion) compared with […]

Only one of the top nine counties in Permian Basin added a drilling rig in the past week, according to Baker Hughes in its weekly report of Aug. 11.  Lea County (64 rigs) and Eddy (47) in New Mexico lead Permian, but both their counts were unchanged in the past week.  Other basin leaders were […]

Dallas-based Energy Transfer said recently it brought into service its eighth cryogenic processing plant in Delaware Basin.  Bear, gas plant with capacity of 200 million cfd, was placed into service in June, according to Energy Transfer in an announcement Aug. 2 of its second quarter financial and operational results. Thomas Long, co-CEO, told reporters the […]

WPX Energy Permian, subsidiary of Devon Energy, and WaterBridge NDB said last week they formed a partnership to create the largest private water infrastructure system in Stateline area of Delaware Basin.  Devon received 30 percent interest in NDB Midstream and committed all its produced water within a large area of mutual interest, including initial dedication […]