Crude oil exports out of Corpus Christi have increased sharply in the past few months, hitting a record 11.5 million barrels (MMbbl) in April 2017. And that may be just the beginning; the volume of crude put on ships in the Shining City by the Sea is likely to rise new Permian-to-Corpus pipeline capacity is completed and as new storage capacity, distribution pipes and marine docks being planned to accommodate a flood of Permian oil come online. Today we continue our series on the build-out of crude-related infrastructure in South Texas’s largest port and refining center with a look at rising crude exports and the new projects being planned.
Hydrocarbon production growth in the Permian play in West Texas and southeastern New Mexico hasn’t missed a beat during the downturn in oil prices that started three years ago. Permian crude oil production now tops 2.3 million barrels/day (MMb/d) and is likely to rise by at least another 1.4 MMb/d by 2022, according to RBN’s latest Growth Scenario for the region, which we discussed in our recent Drill Down Report, With a Permian Well, They Cried More, More, More. Even faster growth is a distinct possibility — the multistack hydrocarbon resources and production economics in the Permian’s Midland and Delaware basins are that good, and exploration and production companies have placed big, expensive bets on the play’s success.
The RBN NGL Analytic Suite delivers timely updates and outlooks on the domestic propane market, as well as U.S. LPG and ethane exports. The suite includes the bi-monthly NGL Voyager report and the weekly and monthly U.S. Propane Billboard.
In Will It Go Round in Circles, we summed up efforts by midstream companies to stay a step ahead of the Permian’s growing crude pipeline takeaway needs, and in Part 1 of this series we continue today we noted that a disproportionate share of the new pipeline capacity being built and planned for out of the region is (or will be) headed toward Corpus Christi. Many Permian producers believe that their light, sweet crude will likely be highly valued in Corpus, where the oil can either feed local refineries or be loaded onto barges, tankers or maybe even Very Large Crude Carriers (VLCCs).
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About the song
“Take It to the Limit” was written by Randy Meisner, Don Henley, and Glenn Frey. It was the third single from the Eagles fourth studio album, One of These Nights. It was the only Eagles hit that Randy Meisner sang lead vocals on. Released in November 1975, the song reached #4 on the Billboard Hot 100 and Adult Contemporary charts. Personnel on the song were: Randy Meisner (lead vocals, bass), Glenn Frey (12-string acoustic guitar, backing vocals), Don Henley (drums, backing vocals), Don Felder (lead guitar), Bernie Leadon (electric guitar), and Jim Ed Norman (piano, string arrangement).
One of These Nights was released in June 1975. It was recorded at Criteria Studios in Miami and the Record Plant in Los Angeles, with Bill Szymczyk producing. It went to #1 on the Billboard Top 200 Albums chart and has been certified quadruple Platinum by the Recording Industry Association of America. The album yielded three hit singles.
The Eagles are an American rock band formed in Los Angeles in 1971. They have released 10 studio albums, three live albums, 10 compilation albums, and 30 singles. They have had five #1 singles and six #1 albums and have sold more than 200 million records worldwide. The Eagles have won five American Music Awards and six Grammy Awards and were inducted into the Rock and Roll Hall of Fame in 1998 and the Vocal Group Hall of Fame in 2001. They received Kennedy Center Honors in 2016. Nine members have passed through the group since its formation. Founding member Glenn Frey died in 2016; Randy Meisner died in 2023. The group continues to record and tour and will finish The Long Goodbye Final Tour in March.
