permian

Houston-based Callon Petroleum Co. on Friday completed its merger with crosstown independent Carrizo Oil & Gas Inc., which expands the Permian Basin footprint and adds a portfolio in the Eagle Ford Shale.

Editor’s Note: This is one of a 14-piece series NGI undertook as the energy industry readied for the new year, with Lower 48 natural gas and oil supply continuing to surge in an uncertain environment as liquefied natural gas exports ramp up, Mexico markets remain shrouded and stakeholders demand more value. Get your complimentary copy of NGI’s 2020 Special Report today.

Drilling permits in oil formations rose to 465 in the first week of December, up 91% from the final week of November, as activity remained consistent in Texas and in the Midwest, along with the Bakken Shale bouncing back, according to a tally by Evercore ISI.

Tulsa-based independent WPX Energy is wrapping up the year in style with a $2.5 billion cash-and-stock deal to buy Permian Basin operator Felix Energy LLC.

Chevron Corp. is raising capital spending in the Permian Basin by around 11% for the coming year, but Appalachia is to see budget cutbacks on the continued slump in natural gas prices.

Epic Y-Grade LP plans to build a second, 110,000 b/d greenfield natural gas liquids (NGL) fractionator at a South Texas fractionation complex to accommodate more Permian Basin and Eagle Ford Shale volumes, the company announced Thursday.

U.S. crude oil and lease condensate proved reserves increased by 12% in 2018 compared with 2017, and natural gas proved reserves rose 9% year/year, setting new records, according to data from the Energy Information Administration (EIA).

As natural gas demand increasingly shifts to the Gulf Coast for liquefied natural gas (LNG) exports, Tulsa-based pipeline giant Williams will seek to connect more Lower 48 gas supply to its Transcontinental Gas Pipeline Company LLC (Transco) trunkline over the coming years, executives said Thursday at the company’s analyst day in New York.

Tulsa-based pipeline giant Williams is expecting robust demand growth on its Atlantic-Gulf corridor natural gas pipelines over the coming years, driven largely by liquefied natural gas (LNG) exports, executives said Thursday during the company’s analyst day in New York City.