Permian Basin

Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

November 21, 2022
ConocoPhillips Standing Firm on Permian Acquisitions Despite Price ‘Volatility’ on Takeaway Constraints

ConocoPhillips Standing Firm on Permian Acquisitions Despite Price ‘Volatility’ on Takeaway Constraints

Management for Houston-based ConocoPhillips during a quarterly earnings call highlighted the independent’s progress as it expanded its LNG activities while achieving record production. CEO Ryan Lance told investors “the world is going to need investments in medium- and long-term production in addition to U.S. shale plays.” ConocoPhillips’ portfolio is “well positioned to meet these long-term…

November 15, 2022
Targa Sees ‘No Slowdown’ in 2023, Pulls Trigger on Two Permian Midstream Projects

Targa Sees ‘No Slowdown’ in 2023, Pulls Trigger on Two Permian Midstream Projects

After posting record volumes across its gathering and processing (G&P) systems during the third quarter, Targa Resources Corp. has sanctioned two midstream projects in the Permian Basin. A second natural gas processing plant at the Wildcat facility in the Delaware sub-basin of the Permian would boost processing capacity by 275 MMcf/d. To be called Wildcat…

November 9, 2022
After Record Quarter, Enterprise Sees ‘Significant Momentum’ in Permian for 2023

After Record Quarter, Enterprise Sees ‘Significant Momentum’ in Permian for 2023

Enterprise Products Partners LP transported record volumes on its pipeline systems during the third quarter of 2022, buoyed by the natural gas gathering and processing business it acquired from Navitas Midstream Partners LP earlier this year. However, management acknowledged that pipeline capacity in the Permian Basin is tight, and more negative gas pricing may be…

November 4, 2022
Matador CEO Says Permian Delaware Wells Exceeding Expectations

Matador CEO Says Permian Delaware Wells Exceeding Expectations

Matador Resources Co. is seeing better than expected results from recently completed wells in the Permian Basin’s Delaware sub-basin, according to CEO Joseph Foran.  As a result, Dallas, TX-based Matador is increasing the midpoints of its full-year 2022 production guidance from 21.7 to 21.85 million bbl for oil, and from 95.5 to 97.0 Bcf for…

October 28, 2022
Kinder Morgan Sees U.S. LNG Demand Reaching 28 Bcf/d by 2030

Kinder Morgan Sees U.S. LNG Demand Reaching 28 Bcf/d by 2030

Kinder Morgan Inc. (KMI) expects domestic LNG export demand to more than double to 28 Bcf/d by 2030, Executive Chairman Richard Kinder said Wednesday. “Given the situation in Europe today, which will result in more long-term contracts and the continuing usage in Asia, this hyper-growth scenario actually seems pretty reasonable to me,” Kinder told analysts…

October 21, 2022
Lower 48 Permitting Ends September with Gains Led by Permian, Haynesville

Lower 48 Permitting Ends September with Gains Led by Permian, Haynesville

Oil and natural gas permitting climbed in September from August by 26% and rose nearly 60% from a year ago, ending the third quarter on a positive note, according to Evercore ISI. Analysts said there were 809 more requests to drill in September month/month (m/m). The Permian Basin led the way, rebounding by 47% from…

October 14, 2022
Permian Natural Gas Gathering Lines Said Spewing More Methane than Estimated

Permian Natural Gas Gathering Lines Said Spewing More Methane than Estimated

Researchers in a peer-reviewed study conducted over three years have discovered that more methane is being emitted from Permian Basin natural gas gathering lines than previous federal estimates.  In a peer-reviewed study published by the American Chemical Society, aerial data was used to measure emissions from thousands of miles of gathering pipeline in West Texas…

October 7, 2022
Northern Oil to Grow Permian Delaware Reach with Alpha Energy Deal

Northern Oil to Grow Permian Delaware Reach with Alpha Energy Deal

Northern Oil and Gas Inc. (NOG) has agreed to acquire stakes in Permian Basin properties spanning about 2,800 acres in New Mexico and Texas from Alpha Energy Partners for $157.5 million. NOG reported that Mewbourne Oil Co. is the primary operator of the assets, which span about 2,800 acres in the Permian’s Delaware sub-basin in…

October 5, 2022
Permian Basin Boom Widening Waha Natural Gas Price Difference to Henry Hub

Permian Basin Boom Widening Waha Natural Gas Price Difference to Henry Hub

Natural gas prices at the Waha pricing point in West Texas continue to offer an attractive long-term option for offtakers, according to an analysis from the U.S. Energy Information Administration (EIA). Since late 2021, the difference “has been widening” between the natural gas price at Waha and the Henry Hub benchmark in Louisiana, researchers said.…

September 23, 2022
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