Permian Basin

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
Devon Retrains Natural Gas Legacy on Europe, with Eye on LNG Investments

Devon Retrains Natural Gas Legacy on Europe, with Eye on LNG Investments

Devon Energy Corp., known as a sizable Lower 48 independent, is considering an LNG offtake agreement and investment stake intended to send natural gas volumes to Europe in a move management says is more about the firm’s DNA than the market of the moment. Oklahoma City-based Devon, one of the largest U.S. natural gas and…

September 12, 2022
U.S. Ethane Production Seen Climbing 16% in 2022, Says EIA

U.S. Ethane Production Seen Climbing 16% in 2022, Says EIA

Production of ethane, a natural gas liquid (NGL), should grow by about 9% in the United States during the second half of 2022 compared to first-half levels, according to an Energy Information Administration (EIA) forecast. “Ethane is consumed almost exclusively as a feedstock in petrochemical plants known as steam crackers to produce ethylene, a precursor…

August 31, 2022