The U.S. Energy Information Administration said oil imports for the Gulf Coast reached their lowest level in more than 30 years in March as production from Permian Basin and other shale fields continues to rise. Imports averaged 1.8 million barrels a day in March – a decline of more than 70 percent since 2007. The […]
Phillips 66, Plains joint venture will construct Red Oak pipeline for crude
Phillips 66 and Plains All American Pipeline said June 10 their joint venture will proceed with construction of $2.5 billion Red Oak pipeline to transport crude oil from storage terminals in Permian Basin and Cushing, Okla., to Beaumont, Corpus Christi, Houston and Ingleside. Initial service is expected to begin in 2021Q1. Red Oak will lease […]
Marathon joint venture to proceed with Whistler pipeline for gas
A joint venture of Marathon Petroleum subsidiary MPLX and three other companies said June 5 it will proceed with design and construction of Whistler pipeline to transport natural gas from Permian Basin to Texas Gulf Coast. Other partners are WhiteWater Midstream of Austin, Stonepeak Infrastructure Partners and West Texas Gas of Midland. Whistler will transport […]
Bluewing, One Cypress to expand export facility in Port of Brownsville
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 […]
Sand supply continues to outpace demand, prices to remain depressed
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 […]
U.S. rig count declines 100 in 2019, Texas down 51, Permian loses 35
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 […]
Permian leads oil production growth; U.S. gas production tops 80 billion cfd
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 […]
Devon to sell assets in Canada to focus on Permian Basin, Eagle Ford
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 […]
Survey: Breakeven point falls to $50 per barrel for shale oil drilling
A survey by Federal Reserve Bank of Dallas shows that the cost of profitably drilling a shale oil well in the U.S. has fallen to $50 per barrel, “likely ensuring the growth of the onshore shale industry for years to come.” The Houston Chronicle reported, “Led by surging production and efficiency gains in west Texas’ […]
Study shows economic benefits for New Mexico from ExxonMobil operations
ExxonMobil said May 17 a study by Impact Data Source estimates the company’s development of Permian Basin resources in New Mexico will generate about $64 billion in net economic benefits for the state and local communities over the next 40 years. The benefits include thousands of new jobs and increased funding for education, health and […]
- « Previous Page
- 1
- …
- 202
- 203
- 204
- 205
- 206
- …
- 208
- Next Page »