Permian Basin

Permian Basin Boom Widening Waha Natural Gas Price Difference to Henry Hub

Permian Basin Boom Widening Waha Natural Gas Price Difference to Henry Hub

Natural gas prices at the Waha pricing point in West Texas continue to offer an attractive long-term option for offtakers, according to an analysis from the U.S. Energy Information Administration (EIA). Since late 2021, the difference “has been widening” between the natural gas price at Waha and the Henry Hub benchmark in Louisiana, researchers said.…

September 23, 2022
Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago

Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago

August natural gas and oil permitting across the Lower 48 reversed course from July, particularly in the Permian Basin, but activity still was higher than a year ago, according to data compiled by Evercore ISI. New well permitting declined in August by 3,106 month/month (m/m). Still, the tally last month was 27% higher than in…

September 19, 2022
Permian Leads as Oil Gains Push Baker’s U.S. Drilling Tally Higher

Permian Leads as Oil Gains Push Baker’s U.S. Drilling Tally Higher

Driven by oil-directed drilling growth, including in the Permian Basin, the U.S. rig count rose four units to 763 during the week ended Friday (Sept. 16), according to the latest data from oilfield services provider Baker Hughes Co. (BKR). An eight-rig increase in oil-directed drilling in the United States for the week was partially offset…

September 16, 2022
Texas Reports 83% Gain in August for Haynesville Natural Gas, Oil Drilling Permits

Texas Reports 83% Gain in August for Haynesville Natural Gas, Oil Drilling Permits

The Railroad Commission of Texas (RRC) said it issued 83% more drilling permits year/year in August in its East Texas District, which includes the state’s portion of the gassy Haynesville Shale. Last month, RRC issued 22 permits to drill oil and gas wells in the East Texas area, aka District 6, up sharply from 12…

September 15, 2022
Texas Pacific, WaterBridge Teaming Up Deep in Heart of Permian Delaware

Texas Pacific, WaterBridge Teaming Up Deep in Heart of Permian Delaware

Texas Pacific Land Corp. (TPL) and WaterBridge NDB LLC have formed an alliance that they say emphasizes sustainable oil and natural gas development across 64,000-plus acres in Reeves and Loving counties in West Texas, spanning the heart of the Permian Basin’s Delaware sub-basin. “This alliance covers a region of the Delaware Basin that offers some…

September 12, 2022
Devon Considering Stake in Delfin, Tentative LNG Offtake Deal

Devon Considering Stake in Delfin, Tentative LNG Offtake Deal

Delfin Midstream Inc. has landed another potential offtaker for its Gulf Coast LNG project with Devon Energy Corp., as the Permian Basin-weighted independent seeks international exposure for its Lower 48 natural gas. Devon could have up to 2 million metric tons/year of offtake capacity and an undisclosed future stake in Delfin under a tentative heads…

September 6, 2022
Sitio, Brigham in $4.8B Merger to Create Largest Publicly Traded Mineral, Royalty Company

Sitio, Brigham in $4.8B Merger to Create Largest Publicly Traded Mineral, Royalty Company

Sitio Royalties Corp. and Brigham Minerals Inc. said Tuesday they have agreed to merge in a roughly $4.8 billion, all-stock transaction. The combined firm would be the largest publicly traded mineral and royalty company in the United States, according to Sitio and Brigham. The plan is to focus on industry consolidation across diverse operators and…

September 6, 2022
Newly Formed Permian Resources Now the Largest Permian Delaware Pure-Play, CEOs Say

Newly Formed Permian Resources Now the Largest Permian Delaware Pure-Play, CEOs Say

Centennial Resource Development Inc. and Colgate Energy Partners III LLC have completed a roughly $7 billion merger to create publicly traded exploration and production (E&P) firm Permian Resources Corp. Executives said the Midland, TX-based independent is now the largest pure-play E&P in the Permian’s Delaware sub-basin, citing a “deep inventory of high-quality drilling locations” on…

September 1, 2022
Amigo LNG Looks to Leverage Offtake Interest, Pipeline Capacity to Fast-Track Mexico Project

Amigo LNG Looks to Leverage Offtake Interest, Pipeline Capacity to Fast-Track Mexico Project

Mexico’s LNG space continues to grow with a new project called Amigo near the port of Guaymas in Sonora expecting a final investment decision by next February. “The fundamental driver behind the project is offtake interest in Asia, especially in India,” CEO Muthu Chezhian of Singapore-based LNG Alliance Ltd. told NGI’s Mexico GPI. India is…

August 29, 2022
How Are High Natural Gas Prices Impacting Crude Oil Refining? – Listen Now to NGI’s Hub & Flow

How Are High Natural Gas Prices Impacting Crude Oil Refining? – Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow, which discusses the significant  link between natural gas prices and crude oil refining. In the podcast, Houston-based CEO Kevin Waguespack of the engineering consulting firm Baker & O’Brien Inc. outlines how high natural gas prices have affected oil refiners in the United…

August 29, 2022
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