Permian Basin

Permian Output Seen Ramping Up in 2021

Permian Output Seen Ramping Up in 2021

Production in the Permian Basin will likely decline through the year but then begin to increase through at least 2026, even if prices do not rise significantly, according to analysts. “We see the Permian as a relative winner among domestic basins given favorable production economics, independent of a call on higher commodity prices,” the Morgan…

October 6, 2020
U.S. Power Sector Fueled Record Year for Natural Gas in 2019

U.S. Power Sector Fueled Record Year for Natural Gas in 2019

Driven by demand from the electric power sector, the United States set new records in natural gas production, consumption and gross exports in 2019, the U.S. Energy Information Administration (EIA) reported Monday. In its Natural Gas Annual report, EIA said 2019 gas consumption increased 3%, led by a 7% increase in power sector demand that…

October 5, 2020
Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Houston-based Black Bear Transmission LLC said Thursday it has completed the sale of natural gas gathering assets in Oklahoma and Arkansas acquired earlier this year from Enbridge Inc.   The assets, owned by Ozark Gas Gathering LLC (OGG), were sold to an undisclosed buyer and terms were not released. OGG was acquired from Enbridge as part…

October 1, 2020
Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

ConocoPhillips’ strategic pivot in 2016 to a value model rather than a growth model provided the Houston-based independent the financial capability to “make rational economic decisions” during the oil market downturn, including curtailing around 400,000 b/d of production. ConocoPhillips Executive Vice President and Chief Operating Officer Matt Fox said the company’s strong balance sheet, which…

September 29, 2020
Max Midstream Looking to Pull Permian, Eagle Ford Oil to New Export Terminal Between Houston, Corpus

Max Midstream Looking to Pull Permian, Eagle Ford Oil to New Export Terminal Between Houston, Corpus

A Houston-based midstreamer is looking to squeeze in another oil export project on the Texas coast between the massive Houston and Corpus Christi ports that would move Eagle Ford Shale and Permian Basin supply overseas. Max Midstream announced the ambitious plan designed around the Seahawk Pipeline and Terminal in Port Comfort in Calhoun County. The…

September 25, 2020
Matador Sees Strong Results in Permian Delaware with More Wells Nearing Completion

Matador Sees Strong Results in Permian Delaware with More Wells Nearing Completion

Permian Basin-focused Matador Resources Co. has seen some of the highest initial potential (IP) rates from one of four wells recently completed and turned to sales in the Stateline asset area in Eddy County, NM. The Dallas-based operator said Tuesday the test results from the Boros No. 215H well showed 24-hour IP production of 4,584…

September 22, 2020
Williston Pure-Play Northern Oil Expanding into Permian, Citing Favorable Economics Amid Downturn

Williston Pure-Play Northern Oil Expanding into Permian, Citing Favorable Economics Amid Downturn

Northern Oil and Gas Inc., which up to now has kept its focus on the Williston Basin, said it has acquired a working interest in Permian Basin acreage operated by EOG Resources Inc. On the deal, Northern revised higher its third quarter production guidance to 25,000-30,000 boe/d. Minnetonka, MN-based Northern said it expects production from…

September 15, 2020
Slumping Natural Gas Production Forecast Across Lower 48 into October, Except in Permian

Slumping Natural Gas Production Forecast Across Lower 48 into October, Except in Permian

The Permian Basin is the only one of the seven major producing areas of the Lower 48 forecast to see an increase in natural gas and oil output in October month/month, according to a forecast by the Energy Information Administration. In the monthly Drilling Productivity Report (DPR) issued on Monday, EIA researchers estimated that overall,…

September 15, 2020
Permian Natural Gas, Oil to Rebound in October, but Other U.S. Basins Still on Decline, Says EIA

Permian Natural Gas, Oil to Rebound in October, but Other U.S. Basins Still on Decline, Says EIA

The Permian Basin is the only one of the seven major producing areas of the United States forecast to see an increase in natural gas and oil output in October over September, the Energy Information Administration said Monday. In the monthly Drilling Productivity Report, EIA researchers estimated total oil production from the seven most prolific…

September 14, 2020
Permian Bears Brunt of Declining Permit Requests, but Activity Off Nationwide

Permian Bears Brunt of Declining Permit Requests, but Activity Off Nationwide

As Lower 48 operators have slashed spending and activity, the Permian Basin has taken the biggest hit to well permitting, according to an analysis of August data by Evercore ISI. Overall permit activity fell nationwide by 28% in August month/month to 1,119 permits, according to the analyst team led by James West. Most of the…

September 11, 2020
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