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Permian Drilling Slows Down
10/04/2022
Down 15% Vs. Recently Peaking in Mid-August
In this chart, we can see a constant growth in the number of drillings from January 2017 until December 2018 from about 300 to about 600. Subsequently, there was a gradual decline until March 2020 and the number of drillings decreased to 530.
At the beginning of 2020, the Corona crisis happened and provoked a considerable decrease in production capacity, including drillings which dramatically plummeted to around 130.
Only since August 2020, the quantity of them commenced to slightly raise and they stood still at approximately 240-250 in April-August 2021.
There was a huge uptick in drilling construction in January 2022, which steadily grew up to May 2022
It is important to notice that the number of drillings trended in June and fell in August 2022 and gradually decrease over the last 6 weeks.
More drill-down opportunities for the drilling activity research is provided by Rextag's Pad Activity Monitor (PAM).
Enbridge agreed to acquire the Tres Palacios gas storage facility in Texas for $335 million
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/138Blog_Enbridge_Buying_Gulf_Coast_NG_storage_facility (1).png)
Enbridge acquired Tres Palacios natural gas storage facility in Texas for $335 million, adding approximately 35 Bcf of natural gas storage to their portfolio. The facility uses salt caverns for storage and has a gas header pipeline system that spans 62 miles and links to 11 major gas pipelines. Crestwood Equity Partners LP intends to divest its interests in Tres Palacios by the second quarter.
Energy Transfer to Finish Mariner East Expansion in Pennsylvania Despite Opposition
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/Energy_Transfer_Mariner 2 East_P.png)
Energy Transfer LP plans to finish the final phase of its long-delayed Mariner East 2 NGL pipeline expansion in Pennsylvania in the third quarter.
Enbridge acquired Tres Palacios natural gas storage facility in Texas for $335 million, adding approximately 35 Bcf of natural gas storage to their portfolio. The facility uses salt caverns for storage and has a gas header pipeline system that spans 62 miles and links to 11 major gas pipelines. Crestwood Equity Partners LP intends to divest its interests in Tres Palacios by the second quarter.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/BlogR-137_US_NG_Pipeline_network.png)
The U.S. natural gas pipeline network is a complex system of pipelines that transport natural gas from production areas to consumers across the country. The pipeline network consists of three main types of pipelines: gathering pipelines, transmission pipelines, and distribution pipelines. Gathering pipelines are small-diameter pipelines that transport natural gas from production wells to processing facilities or larger transmission pipelines. Transmission pipelines are large-diameter pipelines that transport natural gas over long distances, sometimes across multiple states. Distribution pipelines operate at low pressure and are located in or near urban areas. They are often referred to as "utility pipelines" because they are typically owned and operated by local gas utility companies.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/135Blog_Diamondback_Acquires_Lario_Permian.png)
Diamondback Energy, an independent oil and gas company, has successfully completed the acquisition of Lario Permian, marking the closure of two major deals in the fourth quarter of 2022. The company purchased two private operators in the Midland Basin for approximately $3.3 billion.