• 4 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 7 minutes Could Tesla Buy GM?
  • 13 minutes Global Economy-Bad Days Are coming
  • 16 minutes Venezuela continues to sink in misery
  • 13 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 3 hours What will the future hold for nations dependent on high oil prices.
  • 1 hour OPEC Cuts Deep to Save Cartel
  • 2 hours Congrats: 4 journalists and a newspaper are Time’s Person of the Year
  • 3 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 12 hours Permian Suicide
  • 7 hours Price Decline in Chinese Solar Panels
  • 18 hours GOODBYE FOREIGN OIL DEPENDENCE!!
  • 22 hours End of EV Subsidies?
  • 17 hours Asian stocks down
  • 22 hours Maersk's COO statment.
  • 20 hours Trump accuses Google Of Hiding 'Fair Media' Coverage of him
OPEC Surprises Markets With Last Minute Deal

OPEC Surprises Markets With Last Minute Deal

Oil markets appeared to have…

Iran Threatens To Close Key Oil Choke Point

Iran Threatens To Close Key Oil Choke Point

With a U.S. aircraft carrier…

BridgeTex Pipeline Boosts Permian Crude Delivery Capacity

Bridge Tex pipeline

Not only are drillers putting more and more rigs in the white-hot Permian Basin of West Texas, pipeline operators are also boosting capacity to carry Permian crude to the Houston Gulf Coast area.

BridgeTex Pipeline Company said on Tuesday that it would be expanding the pipeline’s capacity from the Permian Basin to around 400,000 bpd in the second quarter from the current capacity of 300,000 bpd, after making enhancements to existing pumps and related equipment.

The BridgeTex pipeline system currently carries Permian crude oil from Colorado City, Texas, to the Houston Gulf Coast area.

“Beginning early in the second quarter of this year, a newly-constructed origin point at Bryan, Texas, which is located 100 miles northwest of Houston, also will begin operations to accept shipments from the Eaglebine region for delivery to Houston,” BridgeTex Pipeline said in the press release.

BridgeTex Pipeline is held 50/50 by Magellan Midstream Partners and Plains All American Pipeline.

The Permian has been the star shale play in the U.S. and as oil prices started to recover, drilling and M&A activity in the area has jumped. Earlier this month, independent oil and gas player Noble Energy said it would buy smaller peer Clayton Williams Energy in a US$2.7-billion cash-and-stock deal in a bid to expand its footprint in the Permian.

Related: Why Cheap Natural Gas Is History

Just a day later ExxonMobil said it would pay up to US$6.6 billion to more than double its acreage in the superstar shale area.

According to last week’s Baker Hughes report on the rig count in the U.S., the Permian now boasts 281 oil and gas rigs—82 rigs more than in the same week last year.

EIA’s latest Drilling Productivity Report sees output in the Permian rising by 53,000 bpd on the month to come in at 2.180 million bpd in February 2017.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
-->