Tag Archive for: permianbasin

Matterhorn Express expansion is in service, boosting Permian gas throughput and easing regional pipeline bottlenecks.

Matterhorn expansion likely online, boosting Permian gas flows

A key expansion on the Matterhorn Express Pipeline appears to be in service, adding new takeaway capacity for Permian Basin natural gas, according to a recent report from East Daley Analytics.

Pipeline flow data monitored by East Daley show deliveries on Matterhorn rising from a steady 1.65 billion cubic feet per day since June to as high as 1.95 billion cubic feet per day in November, indicating the long-anticipated 0.5 billion cubic feet per day compression expansion may now be operating.

“After consistently delivering about 1.65 billion cubic feet per day since June to the Katy market, Matterhorn flows jumped to as high as 1.95 billion cubic feet per day in November,” East Daley reported, noting the sustained increase “suggests that expansion is now underway or completed.”

Click here to read the full article
Source: Pipeline & Gas Journal

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

US associated natural gas output rose 6% in 2024, mirroring Permian crude oil production growth, according to the EIA.

Permian Basin oil boom propels 2024 rise in US associated natural gas

The Permian Basin’s role as the nation’s dominant crude oil producing region is translating to a role as the nation’s dominant natural gas producing region.

According to the U.S. Energy Information Administration, U.S. production of associated dissolved natural gas, also known as associated natural gas, increased by 6% in 2024. This mirrored the growth in crude oil production from the Permian region.

Associated natural gas production averaged 18.5 billion cubic feet per day in 2024, according to data from Enverus DrillingInfo.

Click here to read the full article
Source: mrt

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

ExxonMobil will buy a 40% stake in the new Bahia NGL pipeline from Enterprise Products Partners to boost Permian gas takeaway capacity.

Exxon to buy stake in Enterprise’s new Permian NGL pipeline

Oil and gas supermajor ExxonMobil will buy a 40% stake in the new Bahia natural gas liquids (NGL) pipeline from Enterprise Products Partners as producers and pipeline operators expand gas takeaway capacity in the Permian basin.

Enterprise Products Partners on Thursday said it had entered into an agreement with ExxonMobil, which will acquire a 40% undivided joint interest in Enterprise’s Bahia NGL pipeline that is currently being commissioned.

The closing of the transaction is subject to regulatory approvals and is expected by early 2026, Enterprise said.

Click here to read the full article
Source: Oil Price

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

ExxonMobil acquired 80,000+ net acres in the Permian Basin from China’s Sinochem, boosting its U.S. oil footprint.

ExxonMobil adds to Permian portfolio with 80,000-acre buy

ExxonMobil adds more than 80,000 net acres in the Permian basin from Chinese state-owned conglomerate Sinochem, the US supermajor revealed Friday in its quarterly earnings report.

The deal was struck sometime in the third quarter, according to them, which did not reveal specific financial terms for the agreement.

However, chief financial officer Kathy Mikells said ExxonMobil made “a couple of acquisitions” in the quarter that totalled $2.4 billion.

“The transaction provides control of drilling locations and opportunities to further deploy our technology to drive greater returns,” ExxonMobil chief executive Darren Woods said on Friday during the company’s third quarter earnings call.

Click here to read the full article
Source: upstream

—

Do you have any questions about the topic? Feel free to contact us here or leave a comment below.

Chevron CEO Mike Wirth discusses how US energy dominance ties to national security while praising Trump-era policies.

Chevron CEO applauds Trump administration’s energy policy shift during Permian Basin tour

In an exclusive conversation with FOX Business’ Maria Bartiromo during a tour of the Permian Basin, Chevron CEO Mike Wirth said America’s vast energy resources are not just an economic advantage – but also a matter of national defense – while praising President Donald Trump’s energy initiatives.

Wirth said, “Energy security and national security are linked,” in a preview of his interview on “Sunday Morning Futures,” which will air in full on “Mornings with Maria” Monday.

“He continued that an abundance of natural resources blesses the U.S.” “And we now have an administration that wants to see the energy industry invest in those resources to make sure that America’s energy strength translates into economic strength and competitiveness and, importantly, security.”

Click here to read the full article
Source: Fox Business

—

Do you have any questions or thoughts about the topic related to Chevron CEO? Feel free to contact us here or leave a comment below.

ExxonMobil currently produces 1.5M bpd from its Permian Basin holdings, with plans to increase that to 2.3 million barrels per day by 2030.

ExxonMobil targets 2.3 million barrels a day in Permian by 2030

ExxonMobil targets set officials, like all other oil and gas producers, are closely watching the current economic climate. The company recently announced a reduction of 2,000 jobs — none in the U.S. — as part of a long-term restructuring plan.

“We are worried about prices,” said Rich Dealy, vice president, Permian Basin, with ExxonMobil.

Addressing Hart Energy’s Dug Permian conference, he continued, “Our depth of inventory is impressive even at current prices.”

Click here to read the full article
Source: mrt

—

Do you have any questions or thoughts about the topic related to any ExxonMobil targets? Feel free to contact us here or leave a comment below.

Texas approves major grid plan for the Permian Basin, including potential first-ever 765-kV lines to meet soaring demand.

Texas approves $13.8B plan for Permian Basin grid

USA, Texas: Texas regulators have approved a sweeping reliability plan for the Permian Basin to address soaring electricity demand driven by oil and gas production, data centres, and industrial growth. The plan could see the state’s first 765-kV transmission lines built to import power from other regions, marking a milestone in Texas grid development. Let’s talk more about Texas approves $13.8B plan.

The Public Utility Commission of Texas (PUC) directed transmission service providers to begin preparing applications. It is for eight new import paths into the Permian Basin– five 345-kV and three 765-kV routes. A final decision on whether to move forward with 765-kV construction is expected by May 1.

“These would be the first 765-kV lines ever built in Texas. Some of the first in the US,” said Doug Lewin, President of Stoic Energy. Commissioner Jimmy Glotfelty added that higher-voltage lines could save $100–300 million annually. This is in congestion costs while reducing line losses and overall route length.

Click here to read the full article
Source: Transformer

—

Do you have any questions or thoughts about the topic Texas approves $13.8B plan? Feel free to contact us here or leave a comment below.

Mach Natural Resources LP closes $1.3B acquisition of oil & gas assets from Sabinal Energy LLC and IKAV San Juan.

Mach closes deals in Permian, San Juan basins for $1.3B

Mach Natural Resources LP has closed its acquisition of oil and gas assets from Sabinal Energy LLC and assets managed by IKAV San Juan in a pair of deals valued at $1.3 billion. Learn how Mach closes deals recently.

In the Permian Basin, Mach said in July it would pay $500 million to acquire assets from Sabinal Energy LLC, a private E&P backed by Kayne Anderson private equity funds.

In the San Juan Basin, the company said it would pay $787 million to acquire IKAV San Juan, one of the basin’s top natural gas producers.

Click here to read the full article
Source: HARTENERGY

—

Do you have any questions or thoughts about the topic related to Mach closes deals? Feel free to contact us here or leave a comment below.

Permian Basin may have smaller, focused deals, but continues to flourish, says Pearl Energy founder Billy Quinn after record consolidation.

Permian thriving on small deals, says Pearl Energy

Despite billions of dollars’ worth of consolidation in the U.S.’ most prolific shale play, the Permian Basin remains thriving at a key place to deploy private equity capital. Portfolio companies can build into successful enterprises ripe for acquisition—but it’s not a job for just anybody.

Hart Energy queried top private equity firms invested in the Permian about what’s next for the most prolific shale play in the U.S. This interview with William J. “Billy” Quinn, founder and managing director at Pearl Energy Investments, is the first in a three-part series.

Click here to read the full article
Source: HARTENERGY

—

Do you have any questions or thoughts about the topic on how Permian thriving? Feel free to contact us here or leave a comment below.

From 2020–24, 93% of US oil growth came from the 10 counties in Texas and New Mexico, while the rest added just 130K b/d.

Ten Permian Counties Account for 93% of US oil production growth since 2020

Between 2020 and 2024, total crude oil and lease condensate production in the United States Ten Permian Counties. It grew by 1.9 million barrels per day (b/d), 93% of which was produced from just 10 counties in Texas and New Mexico. Production from the rest of the United States, including producing areas in offshore state or federal waters, grew by just 130,000 b/d.

The 10 counties are all within the Permian Basin, a large geologic feature underlying 66 counties in New Mexico and Texas. Two of these counties, Lea and Eddy in New Mexico, accounted for nearly 1.0 million b/d of U.S. production growth (52%) between 2020 and 2024. Martin and Midland in Texas accounted for an additional 0.40 million b/d (21%). Six additional counties in Texas—Andrews, Glasscock, Howard, Loving, Reagan, and Ward—together grew by 0.36 million b/d (19%), based on county-level production data from Enverus.

Click here to read the full article
Source: eia

—

Do you have any questions or thoughts about the topic related to Ten Permian Counties? Feel free to contact us here or leave a comment below.