Phillips 66’s Gray Oak pipeline opens up storage amid fall in fuel demand
NEW YORK: Phillips 66 Partners LP will offer shippers storage on its Gray Oak crude oil pipeline system in Texas because of an urgent need for tank space, the company said on…
Chevron leans on Permian Basin to return $80 billion on investors
Chevron Corp. plans as much as $80 billion in dividends and share buybacks over the next five years, boosting distributions by 20 percent compared with the most recent pace of…
U.S Shale Output Growth Could Slow by 50% this Year
U.S. oil output growth could decelerate by more than 50% next year as greater capital discipline cuts drilling rigs in America’s largest shale patch. Production is set to expand by…
Texas Pacific helps investors expose to the Permian basin
Texas Pacific Land Trust, a land bank that doesn’t produce oil, is one of the best ways for investors to gain exposure to the world’s largest shale field, according to…
The Hottest Permian Takeover in 2020
Not counting the decade’s largest acquisition deal, the $57-billion Occidental takeover of Anadarko, 2019 saw only $39 billion in oil and gas deals. But if the $11 billion deals in…
Permian pipeline capacity exceeds supply
Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already spurring midstream rate cuts and could…
Record high hit for U.S. proved reserves of crude oil, natural gas
According to the EIA’s annual reserves report, the proved reserves of crude oil in the country increased 12 percent, from 39.2 billion barrels at year-end 2017 to 43.8 billion barrels…
Permian base to drill more to maintain current output, says IHS Markit
Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels…
U.S Shale Growth Frenzy Is Coming To An End
A few high-profile shale executives say the glory days of shale drilling are over. In a round of earnings calls, the financial results were mixed. A few companies beat earnings…