It seems like everyone wants production out of the Permian these days — at least everyone who works for a pipeline company. The addition of five major greenfield crude oil pipes plus a host of expansion projects could bring Permian takeaway capacity up to 8.0 MMb/d from only 3.3 MMb/d today, with almost all of the incremental barrels destined for export markets. It’s a similar story for natural gas, with seven new pipes in the works to bring 2.0 Bcf/d each to Corpus Christi, Houston, or Louisiana, again with most of the molecules targeting exports. Not to be left behind, at least 27 new Permian gas processing plants are in development, and five new pipeline projects could bring 1.6 MMb/d of y-grade NGLs to the Gulf Coast. It’s a darned good thing that everyone in the global energy markets wants all that Permian production, right? What will this mean for the Permian and, for that matter, for the rest of the U.S. and the world? The only way to answer that question is to get the major players together under one roof and figure it out. That’s the plan for PermiCon 2018. Warning! Today’s blog is a not-so-subliminal advertorial for our upcoming conference.
The Crude Voyager is a weekly analysis of U.S. Gulf Coast loading activity that explains the ebbs and flows of crude loadings, destinations, and geopolitical issues impacting U.S. exports. It outlines the major paths for laden tankers hauling U.S. crude all over the world and reflects the change in tanker departures to the main regions that consume U.S. crude.
The Permian isn’t just a basin. It’s a phenomenon. Over the past five years, the increase in Permian crude oil production has been more than three times the rate of all the rest of the U.S. put together, and the Permian will continue to dominate U.S. production growth. Figure 1 shows that essentially all of the growth in U.S. crude oil production since 2014 (between red dashed and blue dashed vertical lines) has come from the five big shale basins — Eagle Ford, Anadarko (STACK/SCOOP), Niobrara, Bakken and Permian — but that the Permian (orange layer) dwarfs them all. (The area from the top of the Permian to the red line is the sum of all other basins, including the Offshore Gulf of Mexico.) It’s a similar story going forward in RBN’s “Mid-Curve” scenario (shown in area to right of dashed blue vertical line), which assumes a price outlook similar to today’s forward curve. By 2023, Permian production will exceed volumes from all four of the other big shale basins combined.
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About the song
"Everybody Wants You" is a hit song written and performed by American rock singer and guitarist Billy Squier. It appeared as the opening track of his double-platinum 1982 album, Emotions in Motion, and was released as the second single (following the title track) from that album. The song reached #32 on the Billboard Hot 100 chart, and rose to #1 on Billboard's Top Rock Tracks chart, holding the top spot for six weeks.
The Emotions in Motion LP was produced by Billy Squier (who also wrote all the songs on the record) and Reinhold Mack. It went to #20 on the Billboard To 200 albums chart. The album cover features a portrait of Squier done by Andy Warhol. Personnel on the record were: Billy Squier (lead vocals and guitar), Kevin Osborn (guitar), Jeff Golub (guitar), Alan St. Jon (keyboards and backing vocals), Doug Lubahn (bass and backing vocals), and Bobby Chouinard (drums). Dino Solera played sax on three songs, and Freddie Mercury and Roger Taylor from Queen sang backing vocals on the album's title track.
Billy Squier is an American rock singer, songwriter and guitarist. In 1976, he formed the band Piper, which released two albums. His solo debut came in 1980 with the LP, The Tale of the Tape. He has released nine studio albums to date. For the past 17 years, Squier has been an active volunteer for New York City’s Central Park Conservancy (a non-profit group), physically maintaining 20 acres of the city’s iconic park. Squier and his wife have an apartment at The San Remo, a historic apartment building that overlooks Central Park. He still occasionally performs live to this day.
