Permian Basin

Production of associated natural gas – fuel produced in concert with oil – surged in the prolific Permian Basin over the past five years, supporting strong total supplies and, for much of this year, helping to keep U.S. prices in check. Associated gas produced from the top three oil plays in the Permian region –…

In the face of operational issues across its gathering and processing systems in the third quarter, Targa Resources Corp. is progressing projects in the Permian Basin to meet the infrastructure needs of producers anticipating strengthening export demand.  Operations commenced at Houston-based Targa’s Greenwood plant in the Permian’s Midland sub-basin ahead of schedule in October and…

North American natural gas markets face the risk of oversupply in 2024 if winter comes in mild amid prodigious production gains. However, the gates are set to swing open for surging LNG exports in 2025 that could support prices out to 2030, analysts said. Lower 48 gas in storage is amply supplied ahead of winter,…

Enterprise Products Partners LP said Tuesday it would spend $3.1 billion on four new projects in the Permian Basin to increase midstream capacity and meet growing demand for natural gas and other fossil fuels. The new projects include two natural gas processing plants in the Delaware and Midland sub-basins, a 550-mile Bahia natural gas liquids…

Dallas-based Matador Resources Co., which works in the Permian Basin, Haynesville and Eagle Ford shales, achieved record results during the third quarter, with natural gas production up 28% from a year ago and 6% higher sequentially.  The stronger output came in part following the takeover earlier this year of Permian producer Advance Energy Partners Holdings…

North Dakota reported flat natural gas production growth in August versus July of 3.3 Bcf/d, which was nonetheless an all-time record, according to the state’s Department of Mineral Resources (DMR). Producers captured and marketed 3.15 Bcf/d, or 95% of total production, reflecting industry efforts to stamp out routine flaring. The price of natural gas delivered…

As has been speculated for months, ExxonMobil on Wednesday agreed to buy Permian Basin pure-play Pioneer Natural Resources Co. in a mega all-stock transaction valued at $59.5 billion. The implied total enterprise value, including net debt, is estimated at $64.5 billion. “Pioneer is a clear leader in the Permian, with a unique asset base and…

LM Energy Holdings LLC is aiming to sell parts of its crude oil gathering business in the New Mexico portion of the Permian Basin to help fuel a focus shift to natural gas. The Dallas-based midstreamer disclosed it has entered into agreements to sell assets and subsidiaries of its Touchdown crude oil gathering system in…

Natural gas futures snapped a two-day rally with a sharp drop on Wednesday as markets shifted focus to mild weather and persistently strong production. The October Nymex gas futures contract settled at $2.733/MMBtu, down 11.5 cents day/day. November fell 10.5 cents to $2.921. At A Glance: 60s Bcf injection projected Weather demand fades Output holds…