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The midstreamers that built out and/or acquired the sour gas treatment facilities, acid gas injection wells and other assets E&Ps need to exploit the Northern Delaware Basin’s crude-oil-saturated rock are sittin’ pretty.
US oil and gas rig count was unchanged to begin the month of October, standing at 549 for the week ending October 3 according to Baker Hughes. Rigs were added in the Anadarko (+1), Gulf of Mexico (+1) and All Other (+2), while the Permian (-2), Appalachia (-1) and Niobrara (-1) all lost rigs.
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The Calistoga Resiliency Center, a hybrid microgrid energy storage facility in Northern California that is designed to address power resiliency amid wildfire risk has begun commercial operations, Pacific Gas and Electric Company and Energy Vault Holdings said this week.
For the week of October 3, Baker Hughes reported that the Western Canadian gas-directed rig count was unchanged at 60 for a third consecutive week (blue line and text in left hand chart below), three less than one year ago and at its lowest level for this time of year since 2020.
In the early 2000s, prices for West Texas Intermediate (WTI) were becoming increasingly disconnected from global fundamentals. WTI reflected conditions in the Midcontinent at the Cushing, OK, crude oil storage hub, where bottlenecks repeatedly distorted its value.
Transco received an approval from the fisheries service for the underwater portion of its 400-MMcf/d NESE expansion despite the likelihood of annoyance for whales and sharks.
TMX waterborne crude oil exports ticked upward in September to their third highest level since the expansion entered service in May 2024.
Targa Resources announces new Y-Grade pipeline from Permian to Mont Belvieu
After setting an annual record of 4.1 MMb/d in 2024, U.S. crude exports started off this year relatively strong, but cracks soon began to show, with volumes falling all the way to 3.2 MMb/d in July, one of the weakest months since 2023.
