Permian producers and midstreamers have faced a lot of uncertainty over the past 12 months. First, they wondered how much demand destruction would be caused by pandemic-related lockdowns, how low crude oil prices might fall, and how much production would be cut back and where. Then, they needed to assess how quickly demand, prices, and production levels would rebound, and determine whether the gathering systems, gas processing plants, and other infrastructure they had been planning pre-COVID should proceed according to their original schedules or be delayed or even canceled. As it turned out, most of the projects went ahead, the developers anticipating — correctly, it now appears — that if any U.S. production area will keep growing, it will be the Permian. Today, we continue a short blog series on gas-related infrastructure development in 2020-21, this time focusing on the Delaware Basin.
The companies that drill for crude oil and natural gas in the Permian and build the pipes and processing plants that help bring those commodities to market, lived a Tom Brady kind of life in the second half of the 2010s. Sure, they may have suffered a minor setback or two, but generally speaking, everything for Permian producers and midstreamers was up and to the right. Then came 2020, an unforgettable year — and in a bad way.
As we said in Part 1 of this blog series, the vast majority of the gas pipeline and processing plant projects already under construction in the Permian when the oil market turned south 12 months ago, stayed on track. On the pipelines front, Matador Resources last year expanded its gathering system in southeastern New Mexico’s Eddy County — part of the Delaware Basin — to deliver more associated gas from the Greater Stebbins and Stateline areas to its newly expanded Black River gas processing complex, also in Eddy County. (More on Black River’s processing capacity in a moment). Late last year, the 2-Bcf/d Permian Highway Pipeline (PHP) to the Gulf Coast started flowing some gas in the fourth quarter of 2020 and officially entered full commercial service on January 1, 2021. Then, late last month, a 1.8-Bcf/d expansion of the Agua Blanca pipeline system came online, increasing the capacity of the Delaware Basin-to-Waha network to a whopping 3 Bcf/d.
The RBN NATGAS Haynesville is a weekly natural gas fundamentals analysis focused on supply, flow, and LNG-driven demand dynamics within the Haynesville basin.
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About the song
“… Ready For It?” was written by Taylor Swift, Max Martin, Shellback, and Ali Payami. The song appears as the first song on Taylor Swift’s sixth studio album, Reputation. Produced by Max Martin, Shellback, and Ali Payami, the electropop song was released as a single in October 2017. It went to #4 on the Billboard Hot 100 Singles chart and has been certified 2X Platinum by the Recording Industry Association of America (RIAA). The song won two awards at the 2019 BMI Awards ceremony. Personnel on the record were: Taylor Swift (vocals), Max Martin (keyboards, programming), Shellback (keyboards, programming), and Ali Payami (keyboards, programming).
Reputation was recorded in 2017 at Conway Recording Studios in Los Angeles; MXM in Los Angeles and Stockholm, Sweden; Rough Customer in Brooklyn, NY; Seismic Activities in Portland, OR; and Tree Sound in Atlanta. The album was produced by Taylor Swift, Jack Antonoff, Shellback, and Max Martin. Released in November 2017, it went to #1 on the Billboard Top 200 Albums chart and has been certified 3X Platinum by the RIAA. Five singles were released from the LP.
Taylor Swift is an American singer-songwriter. She has released nine studio albums, three live albums, two compilation albums, 10 EPs, and 54 singles. Swift has won 10 Grammy Awards, one Emmy Award, 32 American Music Awards, one Brit Award, 23 Billboard Music Awards, 12 Country Music Association Awards, eight Academy of Country Music Awards, two BMI Awards, and is a member of the Songwriters Hall of Fame. She recently completed a major U.S tour that will be followed up with international stops starting in November.
