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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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Crestwood reports record processing volumes in Delaware Basin in 2Q

August 18, 2023 by PBOG

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 in Q2 across multiple basins).  The company said Aug. 1 it projects 260 for the full year (110 to 120 in Delaware Basin).

Crestwood’s gathering volumes in Q2 were up 8 percent over the previous quarter to 535 million cfd in Delaware Basin.  Of the 73 wells connected in Q2, 24 were in Delaware Basin.  Crestwood said it invested $15 million of growth capital in Delaware Basin in 2Q – most of it in Sendero Midstream and Willow Lake gathering systems in New Mexico.

Robert G. Phillips, chairman and CEO, said, “Volumes across our assets are strong, and our business operations are running exceptionally well.  We remain optimistic about the second half of 2023 and maintain a strong outlook for 2024.”

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