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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Mexico begins construction of oil refinery in Paraiso

June 6, 2019 by PBOG

Mexico is beginning construction of an $8 billion oil refinery as President Andres Manuel Lopez Obrador calls for the nation to become self-sufficient in energy production. Sunday in Paraiso, Tabasco, where the refinery will be built, he said Mexico “depends too much on buying foreign gasoline.” According to Bloomberg, the president said the refinery will […]

Filed Under: News Reviews

Enterprise to extend Baymark ethylene pipeline system in south Texas

June 6, 2019 by PBOG

Houston-based Enterprise Products Partners said May 28 it is extending its ethylene pipeline and logistics system further into south Texas. The Baymark ethylene pipeline will originate in Bayport in southeast Harris County and extend about 90 miles to Markham in Matagorda County. The pipeline is supported by longterm commitments and is scheduled to begin service […]

Filed Under: News Reviews

Discovery to drill 10 horizontal wells in Reagan County targeting Spraberry

June 6, 2019 by PBOG

Denver-based Discovery Natural Resources applied to Railroad Commission of Texas to drill 10 horizontal wells in Reagan County targeting Spraberry field to a total depth of 8,500 feet. Houston Chronicle said the drilling project is in the company’s Bullhead lease about 10 miles northeast of Big Lake. Discovery produced 3.8 million barrels of oil and […]

Filed Under: News Reviews

Sentinel Midstream files application for export facility for VLCCs

June 6, 2019 by PBOG

Dallas-based Sentinel Midstream said Monday it submitted a deepwater port license application with the U.S. Maritime Administration to construct and operate a crude oil export facility about 30 miles south of Freeport. Texas Gulflink will be capable of fully loading supertankers or VLCCs (very large crude carriers). Jeff Ballard of Sentinel said, “Texas Gulflink will […]

Filed Under: News Reviews

Altus Midstream opens gas processing plant in Permian Basin

June 6, 2019 by PBOG

Apache’s Altus Midstream said May 30 the first of three new cryogenic processing trains at Diamond complex in Alpine High is now processing rich natural gas and delivering NGLs and residue gas to sales. It’s the first of three units scheduled to begin operations in 2019 with aggregate nameplate capacity of 600 million cubic feet […]

Filed Under: News Reviews

Bluewing, One Cypress to expand export facility in Port of Brownsville

May 30, 2019 by PBOG

A joint venture of Houston-based Bluewing Midstream and San Antonio-based One Cypress Energy said last week it is expanding its storage capacity of bulk liquids at Port of Brownsville by 300,000 barrels.  Phase II of the expansion project will increase total capacity to 1.1 million barrels to serve markets in Mexico, other international locations and […]

Filed Under: News Reviews, PBOG Newsletter

Sand supply continues to outpace demand, prices to remain depressed

May 30, 2019 by PBOG

Moody’s Investor Services said in a recent research report that sand prices for oil and gas fracturing and valuations of sand mining companies are expected to remain depressed as supply continues to outpace demand.  The report said “frac sand castles may crumble” as prices remain low.  Moody’s said sand prices have declined 20 percent in […]

Filed Under: News Reviews, PBOG Newsletter Tagged With: news reviews

U.S. rig count declines 100 in 2019, Texas down 51, Permian loses 35

May 30, 2019 by PBOG

Baker Hughes’ counts of active oil and gas drilling rigs continue to decline.  As of May 24, counts in 2019 have declined 100 in U.S., 51 in Texas, 4 in New Mexico and 35 in Permian Basin.  Baker Hughes said as of May 24 there are 451 rigs in Permian Basin (454 last week, 486 […]

Filed Under: News Reviews, PBOG Newsletter

Permian leads oil production growth; U.S. gas production tops 80 billion cfd

May 30, 2019 by PBOG

Two-thirds of growth in U.S. oil production next month is forecast to come from the Permian Basin.  In its latest Drilling Productivity Report, U.S. Energy Information Administration said oil production in the nation’s seven major regions is expected to grow from 8.412 million barrels per day in May to 8.495 million b/d in June.  Much […]

Filed Under: News Reviews, PBOG Newsletter Tagged With: news reviews

Devon to sell assets in Canada to focus on Permian Basin, Eagle Ford

May 30, 2019 by PBOG

Oklahoma City-based Devon Energy said Wednesday it will sell its Canadian assets for $2.8 billion to Canadian Natural Resources to focus on its shale assets in Permian Basin in west Texas and Eagle Ford in south Texas and also in Oklahoma.  The transaction is expected to close in 2019Q2, and Devon said proceeds will be […]

Filed Under: News Reviews, PBOG Newsletter Tagged With: news reviews

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