A group of midstream industry veterans thinks there are plenty of infrastructure opportunities left in the Permian Basin, as well as in East Texas and Oklahoma. They recently formed Vaquero Midstream LLC and secured backing from Yorktown Energy Partners LLC to go after them.
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Plains’ Proposed Diamond Pipeline to Supply Crude to Valero Refinery
Plains All American Pipeline LP plans to build a pipeline to transport crude oil produced in the Permian Basin, Bakken Shale and the Midcontinent from its terminal in Oklahoma to a Valero Energy Corp. refinery in Memphis, TN.
RSP Permian Grows Production in Namesake Basin
Dallas-based RSP Permian Inc. grew second quarter production by 43% from year-ago levels and 15% from the first quarter. Encouraging drilling results in the Permian Basin of West Texas prompted the company to lift its 2014 production estimate and raise capital spending.
EIA: Lower 48 Gas-Fired Generation to Grow to 1.6 Billion MWh by 2040
The use of natural gas for power generation in the Lower 48 is expected to increase to 1.6 billion megawatt hours (MWh) by 2040, a 1.3% average annual increase, in part due to development of several shale plays, according to the U.S. Energy Information Administration (EIA).
Forest Needs More Time to File 10-Q; Production, Stock Dips
Forest Oil Corp. told the U.S. Securities and Exchange Commission (SEC) it will need more time to file its quarterly Form 10-Q after an internal audit found problems with the company’s accounting software system and related compensating controls, and “material weakness” in its internal control over financial reporting.
Concho Taking Basis by the Horns in Permian Midstream Buildout
Permian Basin crude oil pricing increasingly is impacted as bottlenecks develop, but Concho Resources Inc. isn’t waiting around for someone else to expand the midstream systems, CEO Tim Leach said on Thursday.
Devon’s Permian, Eagle Ford Rock Production Growth
Devon Energy Corp., which has retooled its onshore natural gas-heavy operations to reap the higher margins in oil and liquids, lost some production momentum in the second quarter as it sold off assets, but with the divestitures now complete, the company is gearing up for sustained growth, particularly from the Permian Basin and Eagle Ford Shale.
Rosetta’s Revamped Completions Paying Off
Rosetta Resources Inc. turned in record production during the second quarter thanks in part to new well completion techniques. Eagle Ford production was up sharply, and the company is seeing its “best wells to date” in the Permian Basin.
EnLink to Build Out Midstream Operations in Permian, South Louisiana
EnLink Midstream affiliates late Tuesday launched two growth projects and signed supporting fee-based contracts to expand onshore operations in the Permian Basin and in South Louisiana.
Calumet Acquires Specialty Oilfield Solutions for $30M
Calumet Specialty Products LP said it has acquired substantially all of the assets of one of its competitors, privately-held Specialty Oilfield Solutions Ltd. (SOS), in a cash deal valued at $30 million.