The Texas Petro Index by petroleum economist Karr Ingham declined for the fourth straight month. After starting 2019 at 212.5, the index grew to 213.2 in February but declined to 212.4 in March, 212.1 in April, 210.1 in May and 207.1 in June. From a base of 100 in January 1995, the index reached a […]
Pioneer Natural Resources to drill 8 wells in Midland, Upton counties
Irving-based Pioneer Natural Resources earlier this month filed eight drilling permits with the Railroad Commission of Texas to develop horizontal wells on seven leases in Midland and Upton counties. The Houston Chronicle said the wells will target the Spraberry formation in Midland Basin to depths of 10,531 feet. In a recent investors call, Pioneer CEO […]
Baker Hughes: Reeves, Lea share Permian lead with 57 drilling rigs each
Reeves County now shares the Permian Basin lead in active oil and gas drilling rigs with Lea, N.M., with 57 units each, according to the Aug. 16 report from Baker Hughes. In the past week, Reeves lost 5 rigs, and Lea added a rig. Midland (up 2 in past week) and Eddy, N.M., each has […]
EPIC Y-Grade Holdings to build ethane, ethylene pipelines
San Antonio-based EPIC Y-Grade Holdings said Aug. 15 its affiliates EPIC Y-Grade Pipeline and EPIC Olefins will build more than 130 miles of 12-inch ethane and ethylene pipelines to support the 1.8 million metric ton ethane steam cracker being built by Gulf Coast Growth Ventures in San Patricio County. Both pipelines are scheduled to be […]
Qatar investing in Midland’s Oryx Midstream Services
A state-owned company from Qatar signed a $550 million deal to buy an interest in and expand Midland-based Oryx Midstream Services, a pipeline company that transports crude oil in the Permian Basin. Oryx said Qatar Investment Authority bought “a significant stake” of its operations from New York private equity firm Stonepeak Infrastructure Partners. Founded in […]
NuStar Energy receives first shipment of Permian crude in Corpus Christi
San Antonio-based NuStar Energy said last week it received the first shipment of Permian Basin crude oil at its export terminal in Corpus Christi. NuStar recently completed work to connect its Corpus Christi North Beach export terminal to Cactus II pipeline, a project of Houston-based Plains All American Pipeline that connects the Permian Basin to […]
EPIC delivers its first Permian Basin crude to Corpus Christi, Ingleside
San Antonio-based EPIC Crude Holdings said this week interim crude service on the 24-inch EPIC Y-grade pipeline has started – making its first delivery of Permian Basin crude from Crane to multiple terminals and refiners in Corpus Christi and Ingleside. EPIC said Monday during interim service it can deliver up to 400,000 barrels of oil […]
FERC opens Houston office to manage LNG export terminal applications
The U.S. Federal Energy Regulatory Commission is creating a division to manage the growing number of applications to site, build and operate LNG export terminals. Neil Chatterjee, FERC chairman, said the new FERC office will include 20 existing LNG staff members in Washington, D.C., and 8 additional staff members in Houston, where there will be […]
U.S. rig count declines for 6th straight week; Permian adds rigs again
The count of active oil and gas rigs in the U.S. declined for the sixth straight week as of Aug. 9, according to Baker Hughes, while rig counts in Permian Basin and New Mexico increased again. Permian Basin added 2 rigs in the past week for a new total of 444 (485 a year ago), […]
Enterprise, Chevron reach agreement for crude oil transportation, storage
Houston-based Enterprise Products Partners said July 30 it has executed an agreement with Chevron USA for crude oil transportation and storage. Enterprise said the agreement will support expansion of its crude oil system from Permian Basin to its ECHO terminal in Houston. George Neal, president of Chevron’s supply and trading division, said, “These agreements support […]
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