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Discover How Top NGL Producers Keep Growing
05/01/2020
Each year a substantial growth in volume can be observed in both gas processing and NGL production.
Energy Transfer Partners was the top NGL producer, with a 14% growth compared to previous year. Their NGL production reached 540,000 barrels per day. For 2019, Energy Transfer has reported NGL production of 571,000 bbl/d. That is a 6% increase in production compared to 2018.
Energy Transfer did not supply processing figures, but the company has reported an increase in gathered natural gas (Permian, Northeast, and North Texas) and this is likely to push them onto one of the top positions of the natural gas processor rankings. However, due to the lack of specific figures they were placed on the 10th spot in Midstream Business’ annual rankings.
The rise in processed volumes in the Marcellus Shale has kept MPLX (previously MarkWest Energy Partners) in the first spot as top gas processor. The company reported a 15% increase in earnings for the 2018 fiscal year. No wonder Gary Heminger,MPLX’s chair and CEO said “2018 was a transformational year for MPLX”.
The most significant increase in gas processing with a 16% growth compared to the previous year was recorded by ONEOK Partners. This growth is mainly attributed to high production in the Rockies and the Midcontinent.
DCP Midstream Partners has ranked number 5 in the top NGL producers with a 10% increase from the previous year. A 1% increase in processed gas has kept the company ranking 3rd in the gas processor rankings.
Ranking second in top gas processors and third in NGL producers, Enterprise Product Partners has kept a constant growth in volume in the past several years.
Targa Resources is one of the companies that has been steadily increasing NGL production in the past several years. Targa reported a 25% growth of NGL produced in 2018 compared to 2017 and a 21% increase in 2019 compared to previous year.
Here are the TOP NGL Producers
Here are the TOP Gas Processors
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New Territories, New Opportunities: Continental's Acreage Addition in Midland
Continental Resources is expanding its operations in the Midland Basin, including taking over some assets that used to belong to Occidental Petroleum. The company plans to use its expertise in exploration in this area.
TOP 2022 vs 2023 Permian Producers Overview by Rextag
The Permian Basin, America's prime oil region, faced significant challenges during the COVID-19 pandemic. The industry saw a drastic reduction in rigs and fracking crews and had to close some operations as oil prices plummeted, leading to widespread restructuring. Now, the Permian is making a strong comeback. Over the last three years, exploration and production companies (E&Ps) have increased their drilling activities. They're focusing on spending wisely and maximizing returns to their investors. The Permian's role is crucial. It was projected to contribute over 5.98 million barrels of oil per day in December, making up about 62% of the total oil production in the Lower 48 states, as per the EIA.
Continental Resources is expanding its operations in the Midland Basin, including taking over some assets that used to belong to Occidental Petroleum. The company plans to use its expertise in exploration in this area.
Equinor and EQT Corporation have agreed that Equinor will exchange its operated assets in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interests in the Northern Marcellus formation.
Appalachian Basin (formerly Marcellus and Utica) covers most of New York, Pennsylvania, Eastern Ohio, West Virginia, and Western Maryland in the north, reaching down to parts of Northwest Georgia and Northeast Alabama in the south. The basin is massive, covering about 185,000 square miles, roughly 1,000 miles long from northeast to southwest, and in some places, it's up to 300 miles wide. In this area, some major companies are making significant investments. EQT stands out as the largest producer in the Appalachian Basin, with other key players including Chesapeake, Range Resources, Antero, Repsol, and Gulfport also actively investing.