Tulsa-based Magellan Midstream Partners said Monday it will expand its refined petroleum products pipeline system from Houston to El Paso to a new capacity of about 100,000 barrels per day by early 2024.  The $125 million expansion will include construction of a new 30-mile pipeline along an existing route between Odessa and Crane with additional […]

Houston-based Occidental Petroleum said it will extend its joint venture in Permian Basin with Columbia’s Ecopetrol SA through first quarter of 2025.  Ecopetrol will earn additional interest in the JV’s Delaware Basin assets.  Vicki Hollub, president and CEO, said Aug. 3 the two companies will enhance their JV in Midland and Delaware basins to encompass […]

Houston-based Occidental Petroleum and subsidiary 1PointFive said last week they will begin detailed engineering and construction for their first large-scale direct carbon capture plant in Ector County in 2022Q3 near Oxy acreage and infrastructure.  Startup is expected in late 2024 of the world’s largest plant of its kind.  The plant is expected initially to capture […]

Drilling rig count in Permian Basin continues to decline.  Baker Hughes said as of Aug. 19 there were 345 rigs in Permian – down 1 in the previous week but up 98 in previous year.  The decline of three straight weeks in Permian rig count is the first since Baker Hughes’ reports of July 31, […]

Houston-based Phillips 66 said Aug. 17 it realigned joint venture midstream assets with Enbridge.  Phillips 66 realigned economic and governance interests in DCP Midstream and Gray Oak pipeline through merger of existing JVs with Enbridge.  Phillips 66’s economic interest in DCP increased to 43 percent from 28 percent, and it will oversee and manage the […]

Forecast of oil production in Permian Basin by U.S. Energy Information Administration continues to increase to record levels.  In the latest drilling productivity report of Aug. 15, the EIA said production in Permian is expected to reach 5.408 million barrels per day in September – an increase of 79,000 b/d from August.  Across the seven […]

Houston-based Enterprise Products Partners said Aug. 3 it will expand three projects in west Texas to support production growth in Permian Basin.  Enterprise will add a third plant at its Mentone cryogenic natural gas processing complex in Loving County by 2024Q1 to increase capacity by 300 million cubic feet per day and allow EPP to […]

U.S. Energy Information Administration said last week pipeline exports from west Texas to Mexico averaged 1.6 billion cubic feet per day during May 2022 – the largest pipeline export from west Texas on record.  Compared to 2021, pipeline exports from west Texas January through May 2022 increased by 12 percent to average 1.4 Bcfd.  Natural […]