Study details Permian’s role in reserves growth – Midland Reporter-Telegram

A deep dive into the nation’s oil and gas reserves and production recently was undertaken by Ernst & Young LLP, looking at reserve disclosure information from 2014 through 2018. That period ranges from the triple-digit prices of early 2014 through the crash to near $30 a barrel in early 2016 and the price recovery since […]

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Concho sells Permian assets to Houston’s Spur Energy for $925M – Midland Reporter-Telegram

Midland’s Concho Resources said Tuesday it will sell its more mature Permian Basin assets in New Mexico for $925 million to the Houston startup Spur Energy Partners. Concho, which has struggled financially of late, will use the funds to cut down on debt and initiate a share buyback program to help appease Wall Street, while […]

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EXCLUSIVE-EPIC Midstream ships first crude on new Permian line to Gulf Coast – Reuters

EPIC Midstream Holdings LLC on Thursday began shipping crude oil on its 400,000 barrel per day (bpd) pipeline from the Permian Basin to the U.S. Gulf Coast, pushing Midland crude prices to the highest in six months, traders said. — Read on www.reuters.com/article/epiccrude-pipeline-startup/exclusive-epic-midstream-ships-first-crude-on-new-permian-line-to-gulf-coast-idUKL2N25B1SX

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Pipeline, terminal shortages will continue to hamper Permian growth – Houston Chronicle

Pipeline, terminal shortages will continue to hamper Permian growth – Houston Chronicle — Read on m.chron.com/business/energy/article/Pipeline-terminal-shortages-will-continue-to-14128272.php

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Exclusive: Plains’ Cactus II oil pipeline to begin line fill in a week – source – Reuters

Plains All American Pipeline LP’s 670,000 barrel-per-day (bpd) Cactus II oil pipeline system from the Permian basin to the Corpus Christi, Texas area will commence line fill within a week, a source with direct knowledge of the matter said on Thursday. — Read on www.reuters.com/article/us-plains-all-amer-cactusii-exclusive/exclusive-plains-cactus-ii-oil-pipeline-to-begin-line-fill-in-a-week-source-idUSKCN1TS2XJ

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EIA raises forecast for 2019, 2020 U.S. crude output growth – Reuters

NEW YORK (Reuters) – U.S. crude oil production is expected to rise by 1.49 million barrels per day (bpd) in 2019 to average 12.45 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, up from its previous forecast for a rise of 1.43 million bpd.  The EIA forecast output in 2020 will rise […]

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Bank of Buffett Drops $10 Billion Bomb Into Anadarko Battle

In a stunning escalation of the two-week-old contest for Anadarko, Buffett’s Berkshire Hathaway Inc. on Tuesday disclosed plans to inject $10 billion into Occidental in exchange for preferred stock and warrants. The bombshell landed in the midst of Anadarko board deliberations about whether Occidental — Read on finance.yahoo.com/news/bank-buffett-drops-10-billion-151622861.html

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The Permian Basin Is Now the Highest Producing Oilfield in the World

The Permian Basin Is Now the Highest Producing Oilfield in the World — Read on www.energyindepth.org/the-permian-basin-is-now-the-highest-producing-oilfield-in-the-world/

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How a ‘Monster’ Texas Oil Field Made the U.S. a Star in the World Market – The New York Times

Innovation, investment and inviting geology have given new life to an oil patch that once seemed spent. The oil field is now the world’s second most productive. MIDLAND, Tex. — In a global collapse of oil prices five years ago, scores of American oil companies went bankrupt. But one field withstood the onslaught, and even […]

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Market Solution: New Pipeline Capacity Dwarfs Flared Gas Volumes in the Permian

Texans for Natural Gas The proposed pipeline capacity expected to come online in the Permian Basin over the next three years is vastly greater than the estimated volumes of flared gas, according to a Texans for Natural Gas analysis. Recent media reports have called attention to flaring levels in the Permian as production has increased, with one environmental […]

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