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Permian Basin

More than half the total oil rigs are in the Permian basin in west Texas and eastern New Mexico. Active units there increased by six this week to 458, the most since January 2015. more

Drilling & Exploration

Oil prices rose on Friday stayed below recent highs as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. more

Refining/Petrochemical

Oil and gas rig counts are expected to remain significantly lower than recent peaks due to growing drill productivity, oil and gas prices in the U.S. will continue to rise. more

Refining/Petrochemical

The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude have filled up more quickly than expected. more

Drilling & Exploration

Permian production is expected to increase by approximately 70 percent in 2022, and the Katy, Texas, and Houston Ship Channel markets are a natural destination for these volumes, according to Shelley Corman-Frisby... more

Midstream

U.S. oil production is booming, but how long can this last? much of it will depend on how quickly and effectively operators develop and deploy new technologies. more

Drilling & Exploration

According to Timothy Dove, President and Chief Executive Officer, Pioneer Natural Resources the shale play in the Permian Basin is “demonstrably different” from any other shale play that greatly impacted Texas and the United States, or even the world more

Upstream

The prolific Permian Basin, a mature hydrocarbon “super basin” located in West Texas and Southeastern New Mexico, reached a new oil-production record of 815 million barrels or more in 2017. more

Drilling & Exploration

Crude oil throughput volumes on NuStar’s Permian Crude System are approaching capacity. NuStar Permian Crude System Expansion No. Two will provide shippers with additional transportation capacity, capable of reaching multiple downstream markets. more

Pipeline/Transportation

Originally the former Naval Station at Ingleside before being converted to a crude oil terminal, the Oxy Ingleside Energy Center (OIEC) exports crude oil to international and domestic markets. more

Tanks/Terminals/Storage

Exxon Mobil Corporation said today it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil's proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. more

Drilling & Exploration

U.S. crude oil production reached 10.038 million barrels per day (b/d) in November 2017, according to EIA’s latest Petroleum Supply Monthly. more

Drilling & Exploration

Enterprise Products Partners L.P. announced that the partnership plans to add 300 million cubic feet per day (“MMcf/d”) of incremental capacity at its cryogenic natural gas processing facility under construction near Orla, Texas in Reeves County. more

Midstream

Luxe Energy LLC said on Thursday it had received an additional $296 million from its private equity backers to buy and develop acreage in the Permian Basin, the largest U.S. oilfield stretching across Texas and New Mexico. more

Drilling & Exploration

Several oil pipeline companies this month agreed to move ahead on multi-billion-dollar projects that would link Texas shale fields to Gulf Coast export hubs, offering new outlets for burgeoning output expected in 2018. more

Pipeline/Transportation

U.S. shale producers have been selling off assets in Eagle Ford and North Dakota’s Bakken basins to develop projects in the liquids-rich Permian basin, which has lower break-even costs. more

Drilling & Exploration

Apache Corporation today announced it had secured 500 million cubic feet (MMCF) per day of natural gas transport capacity via the Gulf Coast Express Pipeline Project (GCX Project). more

Pipeline/Transportation

Meridian announced the project in December 2015, planning on building a 55,000 b/d refinery in the heart of North Dakota's Bakken shale formation. more

Downstream

Tellurian proposed Monday building two additional natural gas pipelines to move increasing output of shale supplies in the Permian and Haynesville shale plays to the US Gulf Coast and boosting the access to cheap feedgas for its planned Driftwood... more

Midstream

Carrizo Oil & Gas, Inc. today announced that it entered into an agreement to divest a portion of its assets in the Eagle Ford Shale for $245 million in cash, subject to adjustment and customary closing terms and conditions. more

Drilling & Exploration

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