Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
LIVE: Permian Highlights Discussed Online by Rextag (Hart Energy) Data Experts
11/18/2019
Amazingly how this West Texas area has gradually become the top global oil and gas producing region within the last decade. A spike in production in early 2010s was followed by the acreage rush with lease prices showing 10-fold increase and more than that. Having successfully endured through the drastic price recession of 2014 and following years, Permian producers have continued to improve their technologies driving break-even costs down.
Today with production volume of over 4 million barrels / day Permian produces more than the second largest global oil field, Saudi Arabia's mighty Ghawar. As production keeps increasing, the issue that is becoming most critical in Permian is transportation and possible transportation bottlenecks. New pipeline projects are being built, yet the takeaway capacity of the Permian remains under close examination of industry experts and producers.
This time again Peggy Williams, Vice President/Editorial Director and Reinold (Rey) Tagle Senior Vice President of Data Services will discuss the Permian key metrics in detail.
This 30-min online webinar reviews oil & gas production highlights from the Permian unconventional play using Rextag's Energy DataLink™ premiere data web app.
The speakers analyze historical production and trends, look at major producers, and key midstream players. The research covers decline curves, completion reports and other important points of analysis.
If you want to obtain selected PDF reports and maps used in the webinar, please contact us at akovalenko@hartenergy.com.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
2019 Bakken Upstream Highlights in the Spotlight
Join Rextag for the Bakken Upstream Video Highlights
Magellan Midstream Oil Transport Revenues Drop as Demand Slides
Magellan Midstream Partners L.P. sees a drop in revenues as demand for production of crude oil declines in the US. Yet the company remains optimistic in light of growing interest in gasoline, distillates, and jet fuels.
The U.S. has overtaken Saudi Arabia and Russia to become the world's largest oil and gas producer. In 2024, America's oil output has surpassed last year's record by 1.4%, reaching new heights. Even as oil-producing countries in the Middle East cut back, the U.S. continued to ramp up production after a downturn in 2020, establishing itself as a dominant force in the global market. In terms of numbers, U.S. oil production jumped from an average of 2.93 million barrels per day in 2023 to 13.12 million barrels per day in 2024, marking a significant 7.1% increase.
Kinetik Holdings recently announced a series of transactions in the energy sector. They struck a deal to buy Durango Permian infrastructure for $765 million. At the same time, they're selling their 16% share in the Gulf Coast Express Pipeline to ArcLight Capital Partners for $540 million. The total purchase cost includes $510 million in cash paid immediately and an additional $30 million that will be paid later, depending on whether they decide to expand further.
Recently, the Permian has seen significant acquisitions: Exxon Mobil purchased Pioneer Natural Resources for about $60 billion. Diamondback Energy's $26 billion deal to acquire Endeavor Energy Resources is currently on hold due to requests from the U.S. Federal Trade Commission. Occidental’s acquisition of CrownRock for $12 billion in the Midland.