Tag: Permian
Permian, Anadarko basins lead US drilling rig rebound and force market to follow oil’s lead
NGL production expected to grow in five years as demand increases In the latest installment of its FundamentalEdge series, Drillinginfo released Chasing Crude, a market outlook report focused on its latest view of price and production forecasts for the oil, natural gas, and NGL markets. Chasing Crude continues to monitor the global supply/demand balance for crude oil. Following […]
US oil production to increase through end of 2017, setting up record 2018
Forecast based on recent drilling, production and driven largely by WTI crude oil price EIA forecasts that U.S crude oil production will average 9.4 million b/d in the second half of 2017, 340,000 b/d more than in the first half of 2017, according to the U.S. Energy Information Administration. Production in 2018 is expected to […]
Permian will lead US crude oil production to record high in 2018 – EIA
Many operators experimenting with completion techniques to maximize output per well In EIA’s latest Short-Term Energy Outlook (STEO), total U.S. crude oil production is forecast to average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016, according to the U.S. Energy Information Administration. In 2018, EIA expects crude oil production to reach […]
Pioneer Natural Resources CEO sees Saudi Arabia moving to boost oil prices
Pioneer Natural Resources CEO: “We’re not going to not drill” Tim Dove, CEO of Pioneer Natural Resources predicted on Tuesday that Saudi Arabia will make a move to boost oil prices in order to prop up the kingdom’s own finances. The recent downturn in oil prices occurred despite OPEC’s moves to reduce production by 1.8 […]
Oil thefts, oil security booming in Permian
2017 Texas oil thefts could amount to between $450 million to $1.5 billion In Midland Texas, an FBI task force has dedicated its efforts to investigating oil thefts that could possible cost producers over one billion dollars in the Permian Basin this year alone. With the shale oil boom that has rejuvenated the Permian comes […]
New pipeline infrastructure should accommodate rise in Permian oil production
After 2017, several new pipelines and expansions planned that could carry additional increases in Permian production As crude oil production in the Permian Basin of western Texas and eastern New Mexico has increased, pipeline infrastructure has also increased to deliver this crude oil to demand centers on the US Gulf Coast, according to the US […]
Permian Basin oil production, resource assessments continue to increase
Permian Basin covers over 75,000 square miles in 43 counties of western Texas and southeastern New Mexico Crude oil production in the Permian Basin is expected to increase to an estimated 2.4 million b/d in May, based on estimates from EIA’s Drilling Productivity Report, according to the US Energy Information Administration. Between Jan. 2016 and March 2017, […]
Global upstream oil and gas M&A activity surges to $61 Billion
For upstream oil deals valued over $100 million in Permian, 9 were in Delaware Basin versus 5 in Midland Basin Q1 2017 global upstream oil and gas M&A transaction value was $61 billion, the strongest first quarter in the past ten years and almost half the $130 billion in 2016, according to oil and gas […]
May US shale production set for biggest monthly increase in two years: EIA
US shale production in May to rise to 5.19 million b/d US shale production is expected to show its biggest monthly increase in over two years this May, according to data released by the US Energy Information Administration on Monday. After oil prices recovered to over $50/barrel, producers have upped their drilling activity. The EIA report […]
NuStar to buy Navigator Energy for $1.48 billion
NuStar Energy looking to expand into Permian Basin NuStar Energy LP announced on Tuesday that it is buying privately held Navigator Energy Services LLC for approximately $1.48 billion. The company says with the purchase of the Dallas-based pipeline company it is expanding its operation into the Permian Basin. Navigator Energy owns and operates crude oil […]
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