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.
The Williston Basin, which spans parts of North Dakota, Montana, Saskatchewan, and Manitoba, is a major oil-producing region in North America. In order to transport crude oil and natural gas from the wells to refineries and other destinations, a vast pipeline infrastructure has been built in the area. The pipeline infrastructure in the Williston Basin consists of a network of pipelines that connect production sites to processing facilities, storage tanks, and major pipeline hubs
Being the main means of transferring crude oil around the world, pipelines rapidly route oil and its derivative products (gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils) to refineries and empower other businesses. The U.S. and Canada solely make North America a major oil hub for more than 90,000 miles of crude oil and petroleum product pipelines, which are connected to more than 140 refineries daily processing about 20 million barrels of oil. Compared to 2010, U.S. crude oil production has increased more than twice: from 5.4 to 11.5 million barrels a day. Therefore, newly produced oil obliged energy companies to expand their pipeline networks, but it has only increased by 56%. According to the latest data, Plains manages the largest pipeline network across the U.S. and Canada (its diameter is at least 10 inches) which is the 14,919-mile network that spans from the northwestern tip of Alberta down to the southern coasts of Texas and Louisiana. The place where all these various spreading pipeline networks carry crude oil is refineries, where it is transformed into different petroleum products. Gulf Coast (PADD 3) possesses several refineries with the largest throughput in North America that process more than 500,000 barrels per day. Not only does the development of new pipelines give a plethora of opportunities for economic growth but also it remains a contentious issue in Canada and the U.S., with the cancellation of the KeystoneXL pipeline emblematic of growing anti-pipeline sentiment. In 2021, only 14 petroleum liquids pipeline construction plans were completed in the U.S., which is considered the lowest amount of new pipelines and expansions ever since 2013. Anti-pipeline sentiment did not come out unexpectedly as leaks and spills in just the last decade have resulted in billions of dollars of damages. From 2010 to 2020, the Pipelineand Hazardous Materials Safety Administration reported 983 incidents that resulted in 149,000 spilled and unrecovered barrels of oil, even five fatalities, 27 injuries, and more than $2.5B in damages.
The two Bakken shale producers announced in a joint statement on March 7 that they had reached an agreement to unite in a $6 billion "merger of equals." Combining these two companies will create a leading Williston Basin position with assets covering approximately 972,000 net acres, production of 167,800 boe/d, and an enhanced free cash flow generation that will generate capital returns to shareholders. A historic collapse in oil prices prompted both Whiting and Oasis oil companies to file for Chapter 11 bankruptcy protection in 2020. Thus, the merger can be viewed as a preventive measure to avoid going out of business.