NGL

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…

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…

Amid a slowdown in the Gulf of Mexico (GOM), the U.S. natural gas rig count fell one unit to 158 for the week ended Friday (Oct. 7), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Declines in the United States also included two oil-directed rigs, with the combined U.S. count…

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…

Montney Shale producer Arc Resources Ltd. sees inflation and continued supply chain snarls ballooning its costs for the rest of the year, leading it to raise its capital budget by 16.6%. Calgary-based Arc is now forecasting capital spending of $1.35-$1.45 billion, up from an initial plan of $1.15-$1.25 billion. Management said the upward revision primarily…

TotalEnergies SE and Borealis AG reported last week they have begun commercial operations at their nearly $2 billion ethane cracker in Port Arthur, TX. The companies built the ethane cracker, with an ethylene production capacity of 1 Mt/y,  at TotalEnergies’ refinery in Port Arthur via their Bayport Polymers LLC 50/50 joint venture (JV).  “This investment…

Tulsa-based Oneok Inc. on Monday was working with Oklahoma emergency responders and regulatory authorities to evaluate the damage at its Medford natural gas liquids (NGL) fractionation facility following a fire on Saturday. All of the midstream operator’s personnel were accounted for, according to spokesperson Brad Borror. The company was continuing to “prioritize the safety of…

While investments in the global energy industry are expected to jump 8% from 2021 to 2022, investments in fossil fuels have not returned to pre-pandemic levels, according to the International Energy Agency (IEA). Investments in upstream oil and natural gas activities are projected to rise 10% year/year in 2022, but are likely to fall short…

Fueled by bursts in energy costs, including natural gas, U.S. inflation spiked to an 8.6% annual rate in May, reaching the highest point in more than 40 years. The U.S. Department of Labor on Friday said its Consumer Price Index showed energy costs overall last month climbed 35% from May 2021. Energy commodities, a subcategory…