Permian Basin

EnLink Midstream LLC continues to see signs of an increasing need for natural gas, with the Permian Basin poised for significant growth ahead following a record quarter. Dallas-based EnLink reported that average natural gas gathering volumes in the Permian were about 6% higher sequentially and 15% higher than the prior-year quarter. Average natural gas processing…

Production of associated natural gas – fuel produced in concert with oil – surged in the prolific Permian Basin over the past five years, supporting strong total supplies and, for much of this year, helping to keep U.S. prices in check. Associated gas produced from the top three oil plays in the Permian region –…

In the face of operational issues across its gathering and processing systems in the third quarter, Targa Resources Corp. is progressing projects in the Permian Basin to meet the infrastructure needs of producers anticipating strengthening export demand.  Operations commenced at Houston-based Targa’s Greenwood plant in the Permian’s Midland sub-basin ahead of schedule in October and…

The executive team for completions expert ProPetro Holding Corp., whose business is centered in the Permian Basin, remains bullish on natural gas and oil activity rising over the next several years on improved commodity prices and the continued “industrialization” of the energy sector. The Midland, TX-based oilfield services (OFS) firm provides hydraulic fracturing (fracking) services,…

Natural gas gathering, processing and transportation remain a focal point for Oneok Inc.’s growth plans despite recently closing a major acquisition focused on crude oil and refined products. Oneok saw 12% year/year growth in natural gas processing volumes during the third quarter, CEO Pierce Norton said during a conference call to discuss the Tulsa-based midstreamer’s…

MPLX LP management said development costs in the Permian Basin and Marcellus Shale remain conducive for drilling activity, and the long-term production outlook for its producer customers provides the midstream company with a steady source of growth opportunities. MPLX is progressing on its 2023 capital spending programs, which include allocations of $800 million for growth…

Enterprise Products Partners LP said Tuesday it would spend $3.1 billion on four new projects in the Permian Basin to increase midstream capacity and meet growing demand for natural gas and other fossil fuels. The new projects include two natural gas processing plants in the Delaware and Midland sub-basins, a 550-mile Bahia natural gas liquids…

Dallas-based Matador Resources Co., which works in the Permian Basin, Haynesville and Eagle Ford shales, achieved record results during the third quarter, with natural gas production up 28% from a year ago and 6% higher sequentially.  The stronger output came in part following the takeover earlier this year of Permian producer Advance Energy Partners Holdings…

Dealmaking in the U.S. oil and natural gas upstream segment was on cruise control between July and September, with an estimated $14 billion spent for 25 transactions, but two mega-mergers announced this month may signal that transactions to year’s end may go into overdrive. A summary of 3Q2023 upstream merger and acquisition (M&A) activity, compiled…