Permian

Sources: Ovintiv Nears $4 Billion Deal to Acquire EnCap’s Permian Oil, Gas Assets

Ovintiv Inc. is nearing a deal to acquire oil exploration and production assets in the Permian Basin that are controlled by private equity firm EnCap Investments for about $4 billion including debt, people familiar with the matter said on Sunday.

Fed Survey: Activity in Top US Oil Fields Stall, Outlook Sours

U.S. oil and gas activity stalled in the first quarter as production gains slowed and drillers' outlooks turned negative, according to a survey released on Wednesday by the Federal Reserve Bank of Dallas.

Energy Transfer to Acquire Lotus Midstream for $1.5 Billion, Adding 3,000 Miles of Permian Pipeline

By purchasing Lotus Midstream, Energy Transfer will gain the Centurion Pipeline and an additional 3,000 miles of crude gathering and transportation pipelines that stretch from New Mexico through the Permian Basin of West Texas to Cushing, Oklahoma.

EIA: US Shale Production Set to Rise to Highest Since December 2019 in April

Shale production is expected to rise by 68,000 barrels daily — the slimmest rise since December 2022 — to 9.21 million bbl/d, the EIA data showed. Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.62 million bbl/d.

Occidental to Use Siemens Energy Compressors at Direct Air Capture Plant in Permian Basin

(P&GJ) — Siemens Energy compressors will be used at Occidental’s first large-scale Direct Air Capture plant in Texas’ Permian Basin, the company announced on March 6. The equipment will compress the captured CO2 for additional processing and pressurize the final product into a pipeline for injection into underground reservoirs.

Oilfield Services Firm Atlas Energy Aims for $2 Billion Valuation in US IPO

The company provides logistics services to customers in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. It plans to raise $414 million in an offering priced between $20 and $23 per share.

Expanding Gas Infrastructure Presents Alternative to Permian Constraints

(P&GJ) — Oil is still serious business in the Bakken Shale, but when it comes to midstream, the money is on natural gas. As in the Permian Basin, oil production in the Williston has a high rate of associated natural gas. But the Bakken’s residual gas is rich in natural gas liquids (NGLs), and that requires infrastructure generally more akin to North Texas’ Barnett Shale than West Texas’ Permian.

Chesapeake Energy to Reduce Drilling on Lower Natural Gas Prices

U.S. natural gas producer Chesapeake Energy on Wednesday said it would pull back on drilling and completing wells this year as natural gas prices fell to a quarter of what they were last summer.

Pipeline Operator Magellan Says Permian Crude Flows to Houston Will Rise

U.S. pipeline operator Magellan Midstream Partners LP on Thursday predicted crude oil flows from the Permian Basin will shift toward Houston as shale production rises and lines to export hub Corpus Christi fill.

Pipeline Operator Enterprise It's Says Bullish on Permian Oil Output

U.S. energy pipeline operator Enterprise Products Partners was bullish on oil production from the top U.S. shale basin, the firm said on Wednesday, predicting that international demand for U.S. oil and gas will rise.

Exxon Stops Routine Gas Flaring in The Permian, Wants Others to Follow

Exxon Mobil Corp. said it has stopped routine flaring of natural gas from production in the top U.S. shale basin and will press for stronger regulations for rivals to do the same, company officials said in an interview.

Targa to Buy Remaining Stake in NGL Pipeline for $1.05 Billion

Targa Resources Corp. said on Tuesday it will buy the remaining stake in its Grand Prix NGL Pipeline that it does not already own, for $1.05 billion in cash from Blackstone Inc.'s energy unit.

ONEOK Seeks FERC Approval for 155-Mile Permian-Mexico Connector Pipeline

Saguaro Connector Pipeline filed for a presidential permit application with FERC to construct and operate facilities for the exportation of natural gas at a new international border-crossing at the U.S. and Mexico border in Hudspeth County, Texas. The pipeline would consist of approximately 155 miles of 48-inch-diameter natural gas pipeline originating at the Waha Hub in Pecos County, Texas.

XRI Commences Construction of 230-Mile Water Pipeline System in Permian Basin

(P&GJ) — When the Evolution Pipeline system is completed, the combined system will comprise 230 miles of pipeline infrastructure with recycling facilities and produced water disposal wells covering much of the Permian Basin. The pipeline has already secured long-term contracts from operators Chevron, Exxon, XTO Energy and Pioneer Natural Resources.

Stakeholder Midstream to Double Gas Capacity in Permian with Second Processing Train

(P&GJ) — Stakeholder Midstream LLC said on Oct. 26 that it reached a final investment decision on the installation of a second treating and processing train at its Campo Viejo facility. The installation of Train II will double the current inlet gas capacity from approximately 80 MMcf/d to approximately 160 MMcf/d.

EPA Approves First-of-its-Kind Permanent Carbon Sequestration Plan in Permian Basin

(P&GJ) — Stakeholder Midstream's Pozo Acido well’s proximity to the most prolific interstate CO2 pipelines in the United States, such as Kinder Morgan's Cortez pipeline, allows Stakeholder to provide carbon sequestration to third parties in the Permian Basin and beyond.

Palisade Pipeline Launches Open Season for Permian Basin Produced Water Gathering Pipeline

The pipeline system consists of 97 miles of easements and has been approved to move 500,000 bbl/day of produced water that run from Lovington, New Mexico south to Monahans, Texas. Currently, the Rail Runner project has 150,000 bbl/day of available disposal volume with plans to expand that capacity up to 500,000 bbl/day.

Occidental to Begin Construction on Direct Air Carbon Capture Facility in Permian Basin

The direct air capture plant will be the world’s largest of its kind and is expected to capture up to 500,000 metric tons of carbon dioxide per year once operational with the capability to scale up to 1 million metric tons per year.

Permian Basin Midstream Expands to Deliver More Gas to the World

(P&GJ) — The world needs more natural gas, and the Permian Basin is gearing up to deliver it with a flurry of midstream projects that will expand gathering and processing infrastructure and add an expected 6 Bcf/d of pipeline takeaway capacity within the next two years.

EIA: Permian Oil Output Forecast to Hit Record High in September

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bbl/d) to a record 5.408 million bbl/d in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday.

Enterprise to Build Two Natural Gas Plants, Expand Shin Oak Pipeline System in Permian

Enterprise Products Partners LP has unveiled plans to build two natural gas processing plants and expand the Shin Oak natural gas liquid pipeline system in the Permian Basin to further support ongoing production growth in the basin.

Sunbridge Energy Services Launches Natural Gas Compression Station in Permian Basin

Helping to meet Permian operators’ emission reduction goals, the company’s natural gas compression station will come online on Aug. 31 in the North Midland Basin with a capacity of 50 million cubic feet per day.

Energy Group MPLX Boosts Pipeline Throughput by 6% in Second Quarter

U.S. midstream oil and natural gas company MPLX LP said Tuesday it had increased total pipeline throughputs by 6% in the second quarter of 2022 and terminal throughput by 4%, compared with year-ago levels.

Magellan's Permian-Houston Crude Pipelines Volumes Drop

Volumes on Magellan's 450-mile (724-km) Longhorn crude oil pipeline from West Texas to Houston averaged about 200,000 barrels per day (bbl/d) in the three months ended June 30 compared with 260,000 bbl/d in the same period last year.

Sources: ConocoPhillips Eyes Gulf of Mexico Exit to Strengthen Permian Position

ConocoPhillips is exploring a sale of its stake in the Ursa platform and Princess subsea well in the Gulf of Mexico in what would mark its exit from deepwater energy production off the U.S. Gulf coast, sources told Reuters on Wednesday.

Kinder Morgan Green Lights Permian Natural Gas Pipeline Expansion Project

Pipeline operator Kinder Morgan has given the greenlight to financing expanded capacity on the 428-mile Permian Highway Pipeline, which currently carries 1.2 Bcf/d from the Permian Basin of West Texas and New Mexico.

EnLink Midstream Founder, CEO Barry Davis to Retire

EnLink Midstream Chairman and CEO Barry E. Davis will retire from EnLink, the company he led the founding of, after more than 25 years of leadership, the company announced in a statement.

Targa Resources to Acquire Permian Gas Gathering, Processing Assets in $3.55 Billion Deal

Targa Resources has agreed to buy natural gas processor Lucid Energy Group for $3.55 billion in cash, a deal that includes a portfolio of about 1,050 miles of natural gas pipelines in the Delaware Basin.

Matador Resources Acquires Permian Pipeline, Gathering System in $75 Million Deal

Matador Resources Co. has agreed to acquire Summit Midstream's gathering and processing system in the Permian Basin for $75 million, which includes roughly 45 miles of natural gas gathering pipelines.

Texas Pacific Land, Milestone Carbon to Conduct Carbon Sequestration Study in Permian Basin

Texas Pacific Land Corp. and Milestone Carbon LLC have signed a Letter of Intent to evaluate the geological and geophysical characteristics of roughly 21,000 acres in the Permian Basin for the purposes of sequestering captured CO2.