Since days when shale oil and gas technologies were discovered, the U.S. energy industry has been evolving more rapidly than ever before. Many changes are amazing especially when you put them on an industry map. At Rextag not only do we keep you aware of major projects such as pipelines or LNG terminals placed in service. Even less significant news are still important to us, be it new wells drilled or processing plants put to regular maintenance.
Daily improvements often come unnoticed but you can still follow these together with us. Our main input is to “clip it” to the related map: map of crude oil refineries or that of natural gas compressor stations. Where do you get and follow your important industry news? Maybe you are subscribed to your favorite social media feeds or industry journals. Whatever your choice is, you are looking for the story. What happened? Who made it happen? WHY does this matter? (Remember, it is all about ‘What’s in It For Me’ (WIIFM) principle).
How Rextag blog helps? Here we are concerned with looking at things both CLOSELY and FROM A DISTANCE.
"Looking closely" means reflecting where exactly the object is located.
"From a distance" means helping you see a broader picture.
New power plant added in North-East? See exactly what kind of transmission lines approach it and where do they go. Are there other power plants around? GIS data do not come as a mere dot on a map. We collect so many additional data attributes: operator and owner records, physical parameters and production data. Sometimes you will be lucky to grab some specific area maps we share on our blog. Often, there is data behind it as well. Who are top midstream operators in Permian this year? What mileage falls to the share or Kinder Morgan in the San-Juan basin? Do you know? Do you want to know?
All right, then let us see WHERE things happen. Read this blog, capture the energy infrastructure mapped and stay aware with Rextag data!
Chord Energy Corp.'s subsidiary has entered into an agreement to purchase assets in the Williston Basin from Exxon Mobil, and its affiliates for $375 million. Chord Energy, a US independent company, is strategically expanding its presence in the Williston Basin of Montana and the Dakotas. While industry attention remains fixated on the Permian Basin, Chord Energy recognizes the potential of the Williston Basin and is capitalizing on the opportunity to enhance its reserve portfolio. Chord Energy successfully completed the acquisition of 62,000 acres in the Williston Basin from XTO Energy for a substantial cash consideration of $375 million.
Big announcement! Crescent Energy is set to bolster its inventory in the play by acquiring operated and working interests from Mesquite Energy. Crescent Energy Co. seals a $600 million cash deal to acquire assets in the Eagle Ford Shale from Mesquite Energy Inc. (formerly Sanchez Energy).
In May, ONEOK (OKE) made an announcement regarding its acquisition of Magellan Midstream Partners LP (MMP) for a total value of $18.8 billion, which includes cash and stocks. This move drew attention as it positions ONEOK, primarily known for its involvement in the provision, gathering, and processing of Natural Gas (NG), to become one of the largest pipeline companies in the United States. The acquisition also allows ONEOK to expand its services by including Oil (CL), another significant energy commodity.
Global oil supply and demand saw notable changes in April 2023. Liquids demand declined by 0.7 MMb/d to 99.9 MMb/d, with gains in China and Europe offset by reduced demand in Japan and the Middle East. OPEC 10 production remained stable at 29.5 MMb/d, while Saudi Arabia increased output by 0.3 MMb/d. Non-OPEC production declined slightly, Russian production dropped further, and US shale production remained steady. Combined production in Iran, Venezuela, and Libya remained unchanged. Commercial inventories increased, and OPEC+ implemented production cuts. Economic sentiment remains uncertain amid rising global inflation.
ONEOK Inc. and Magellan Midstream Partners LP have announced a merger agreement that will result in the formation of a formidable midstream company headquartered in Tulsa, Oklahoma. The deal will bring together their respective assets and expertise, resulting in a powerful entity boasting an extensive network of approximately 25,000 miles of pipelines primarily focused on transporting liquids.