(BOE Report) – A new pipeline carrying shale natural gas from west Texas toward export hubs on the U.S. Gulf Coast has eased constraints that crashed local prices this year, and will help pave the way for higher U.S. oil production, energy executives said. Pipeline companies largely quit adding new capacity following the pandemic, when shale production dried up and
From Reuters In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow. School officials had expected enrollment to fall after the last oil price crash, starting in 2014, but it kept rising – one sign of
From Reuters Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies. Reversing the flow on a portion of Lotus’s Centurion
From Reuters Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. The United States imposed tariffs on imported steel and aluminum last year to shield U.S. producers from overseas competition. U.S. energy industry trade groups have warned the
From The Houston Chronicle With Occidental Petroleum finalizing its $38 billion acquisition of Anadarko Petroleum last week, Oxy is now lowering its oil and gas production guidance for the legacy Anadarko assets. For the rest of this year, Oxy said Anadarko’s assets will see lower production volumes by at least a couple of percentage points than anticipated because of pipeline
From Reuters The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings. These bargain rates, in one case half the initial published rate, will aid strapped oil producers that once had to sell their
From Reuters Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing to buy up acreage, acquire competitors and quickly boost output in the booming shale field. Today, Diamondback (FANG.O) is the
Frac sand provider Covia Holdings Corporation (stock ticker: CVIA) reported Q3 2018 results and held its earning call on Wednesday. President and CEO Jenniffer Deckard discussed Covia’s spot pricing in the Permian, how it is coming off of idling some of its higher cost facilities, and how Northern White sand volumes will change through the holiday season. Highlights from the
From Reuters NEW YORK (Reuters) – Enterprise Products Partners LP said on Wednesday it could convert one of its natural gas liquids (NGL) pipelines to crude oil out of the Permian basin as early as the second quarter of 2019, ahead of an earlier timeline of 2020. The startup of the Shin Oak pipeline, expected in the second quarter
Delaware Basin jumps 88% to 62 MBOEPD Anadarko Petroleum Corporation (NYSE: APC) announced 2018 Q2 results, reporting net income of $29 million, or $0.05 per share (diluted). Net cash provided by operating activities in Q2 2018 was $1.23 billion. Highlights Increased U.S. onshore oil volumes by 47% YOY Improved per-barrel margins by nearly 50% YOY Expanded West Texas infrastructure with
From PR News Wire Magellan Midstream Partners, L.P. (NYSE: MMP) announced today a new open season to solicit additional commitments from shippers to potentially further expand the western leg of its refined petroleum products pipeline system in Texas. Binding commitments are due from interested customers by 5:00 p.m. Central Time on July 11, 2018. Magellan previously announced it is expanding
From Dallas News Success is catching up with the Permian Basin, the prolific U.S. oilfield that’s out-producing many Middle Eastern nations. With oil prices climbing, the basin has become an expensive bottleneck as drillers try to pump more crude and natural gas than what pipelines can send to refineries, storage tanks and ports. Billions of dollars worth of new and
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