Phillips 66 has budgeted $2 billion in its capital program next year, including $865 million for sustaining capital and $1.1 billion for growth capital. The company said around 50% of growth capital supports lower-carbon opportunities. In the Midstream business, growth capital would be directed to the integrated natural gas liquids (NGL) value chain from wellhead…
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Articles from Phillips 66
Natural Gas Futures, Cash Prices Fall as Ida Slashes Demand; Storm Tees Up ‘Tame September’
Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from…
August 30, 2021
Phillips 66 Completes NGL Upgrades at Sweeny Hub Serving Permian, Eagle Ford Operators
Phillips 66 has completed a $1.4 billion infrastructure upgrade near its Houston Ship Channel facilities to serve the Permian Shale and Eagle Ford Shale. Houston-based Phillips 66 management said operations have begun on two natural gas liquids (NGL) fractionation plants at its Sweeny Hub in Old Ocean, TX, south of Houston. With a combined capacity…
November 24, 2020
Briefs — Samson Resources
Tulsa-based Samson Resources II LLC reported 30-day initial production of 2,339 boe/d (97% oil) from the Spearhead (Federal 11-2635 4075) well in the Shannon formation in Converse County, WY, within the Powder River Basin. With about 145,000 net acres in the PRB, the board is considering expanding its delineation program. An operating budget is be finalized late in 1Q2019.
January 14, 2019
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