Post Tagged with: "midland"

Source: Enterprise Product Partners

Enterprise’s Midland-to-ECHO oil pipeline system expansions to add 450,000 bpd each

Source: Reuters


NEW YORK (Reuters) – Enterprise Products Partners LP said on Monday it expects its Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions will add about 450,000 barrels per day (bpd) each of additional capacity.

Midland-to-ECHO 4 is …

Source: Plains All American Pipeline, L.P.

Plains Says its Midland Crude Terminal Trades Should be Kept in Key Price Assessment

From Reuters


Plains All American Pipeline LP said trades at its own Midland crude terminal should be included in a key price assessment, responding to a proposal by Argus Media to remove it:

* Plains’ 670,000 barrel-per-day (bpd) Cactus II …

President and CEO of Panhandle Oil and Gas Resigns

President and CEO of Panhandle Oil and Gas Resigns

By Tyler Losier, Energy Reporter, Oil & Gas 360

Paul F. Blanchard Jr. steps down as president, CEO and director of Panhandle Oil and Gas
Panhandle Oil and Gas (stock ticker: PHX), a mineral and leasehold acreage-focused capital allocator, has

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters


Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an …

August 20, 2019 - 6:01 am Closing Bell Story‎, Crude Oil News, Energy News, Midstream
Source: Lonestar Resources

Energy Bankruptcies Back on the Rise in 2019

From The Houston Chronicle


After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019.

The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and …

Source: TOPS/LinkedIn

Black Bay Energy Capital Backs Permian-Based Oilfield Services Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Black Bay Energy Capital forms partnership with Total Operations and Production Services
Black Bay Energy Capital, a private equity firm focused primarily on the oilfield services and equipment sector, has formed

New U.S. Pipelines Poised to Start Price War for Shale Shippers

New U.S. Pipelines Poised to Start Price War for Shale Shippers

From Reuters


The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.

These bargain …

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360

Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners
Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant

Source: Salt Creek Midstream

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360

SCM Crude LLC to solicit binding commitments for interstate gathering and transportation
SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

By Tyler Losier, Energy Reporter, Oil & Gas 360

Alliance Resource Partners Acquires $145 million worth of Permian mineral interests from Wing Resources
Alliance Resource Partners L.P. (stock ticker: ARLP), a diversified natural resource company based in Tulsa, Oklahoma, has

Audio: Interview with Texas Standard Oil President Tim Roberson – an Oil & Gas 360 Exclusive

Audio: Interview with Texas Standard Oil President Tim Roberson – an Oil & Gas 360 Exclusive

By Tyler Losier, Energy Reporter, Oil & Gas 360


Texas Standard Oil LLC

Texas Standard Oil LLC is a private Midland, Texas-based oil company focused on acquiring oil and gas leaseholds in the Wolfcamp shale play of the Permian Basin. …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

From The Houston Chronicle


Occidental Petroleum reported a $635 million quarterly profit that dipped 25 percent from the year prior, but the focus still remains on Oxy’s $38 billion acquisition of Anadarko Petroleum that could close in August.

Houston-based Oxy …

Texas Shale Pioneers Struggle to Appease Investors

Texas Shale Pioneers Struggle to Appease Investors

From Reuters


Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.

Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing …

Northern Delaware Basin Operations 

From Concho.com

Kimmeridge Energy Joins Forces with Desert Royalty

By Tyler Losier, Energy Reporter, Oil & Gas 360

Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin
Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has

The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

Source: Wing Resources

Alliance Resource Partners Snags 9,000 Acres in the Permian

By Tyler Losier, Energy Reporter, Oil & Gas 360

Wing Resources to sell assets for $145 million
Tulsa, Oklahoma-based Alliance Resource Partners, L.P. (stock ticker: ARLP) has entered into a definitive agreement to acquire oil and gas mineral interests in

Source: SM Energy

SM Energy Adds 400,000 BOE to 2019’s Production Guidance

By Tyler Losier, Energy Reporter, Oil & Gas 360

Second quarter and full year production expected to be 43-44% oil
Due to better than expected well performance and timing of completion, SM Energy Company (stock ticker: SM) is upping its

Source: Glendale Energy Ventures

New Partnership to Acquire Upstream Assets

By Tyler Losier, Energy Reporter, Oil & Gas 360

Initial capital commitments of $500 million
TPG Sixth Street Partners, a global finance and investment business founded in 2009, announced a new partnership today with the Houston-based private oil and gas

Source: Federal Reserve Bank of Dallas

Dallas Fed: Oil Companies Need $50 per Barrel to Break Even

Average breakeven fell 4% over the past year
With the price of oil in a pretty constant state of volatility as of late, the breakeven point for crude is an important number to keep in mind.

According to the Federal

The Fastest-Growing U.S. City Is Scrambling to Survive the Shale Boom

The Fastest-Growing U.S. City Is Scrambling to Survive the Shale Boom

From Bloomberg

In a state known for its oil-based booms and busts, Jerry Morales is convinced Midland, Texas, the unofficial capital of the Permian Shale Basin, has a chance to break from the pattern.

In the Permian, “we don’t say …

Enterprise Weighs Another Permian Long-Haul Crude Pipeline

Enterprise Weighs Another Permian Long-Haul Crude Pipeline

From Argus Media

Enterprise Products Partners is weighing another long-haul crude pipeline from the Midland basin to Houston, Texas.

“We are right now socializing it and talking to customers,” said Enterprise senior vice president of liquids hydrocarbons marketing Brent Secrest …

January 24, 2019 - 5:46 pm Closing Bell Story‎, Energy News, Midstream
Source: AST&Science

Texas Spaceport in Heart of Oil Country will Launch Micro-Satellites in 2019

Newly completed factory will produce and launch up to 100,000 seven-ounce satellites a year at its Midland space facility, schedules first launches for 2019

From Engineering.com

A new satellite factory has opened in the heart of Texas—and it promises to …

December 6, 2018 - 12:44 pm Closing Bell Story‎
U.S. Becomes World Energy Leader, Surpassing 11 Million Barrels of Oil per Day

U.S. Becomes World Energy Leader, Surpassing 11 Million Barrels of Oil per Day

The rapid growth of oil production from shale combined with returning GOM production have succeeded in making the United States the leading crude oil producer in the world.

The U.S. set a new record for daily oil production at 11.3

November 1, 2018 - 2:05 pm Closing Bell Story‎, Industry Insights, International
Glut of Unemployed Petroleum Engineers, Geologists Shrinks by 12.5% – Report

Glut of Unemployed Petroleum Engineers, Geologists Shrinks by 12.5% – Report

Oil hiring swells in Texas, U.S. oilpatch

Oil prices reached their highest point since December 2014 and companies in the oil and gas industry are hiring accordingly as activity in the industry picks up.

LinkedIn’s workforce report for June details …

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017.

Drilling

The company …

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average

Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2

The Midland Basin produced …

What’s Worth More to the State of Texas—Land or Oil?

SM Energy Divestment of $792 Million Non-Core Assets Will Drive 30% Debt Reduction

Out of the Williston

Midland- and Eagle Ford-focused SM Energy Company (ticker: SM) sold its remaining assets in the Williston Basin and third-party operated assets in Upton County, Texas. The combined sale generated $292.3 million, but the buyers have not …

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Targeting 12-12.5 MBOEPD production for 2018

Earthstone Energy, Inc. (ticker: ESTE) posted a net income of $2.3 million, or $0.09 per share in Q4 2017. For 2017, the company reported a net loss of $12.5 million, or $(0.53) per share.…