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Permian Basin Economic and Energy Update: Q4 2024

Oil Gas Leads

The Permian Basin continues to demonstrate resilience and growth as we close out the fourth quarter of 2024. A combination of rising energy prices, stable production, and economic expansion has positioned the region as a key driver of the U.S. oil and gas sector. per barrel of oil equivalent (boe) , up 15.6% to $328,000.

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Why U.S. Oil Production Is Up 6.5% in 2024

Energy Central

Energy Information Administration, year-to-date daily average oil production is 13.2 oil output remains a key driver of the global energy market. crude oil production will almost. million barrels per day. higher than last year’s record production of 12.5 million BPD. This ongoing growth in U.S.

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ONEOK’s Expanding Footprint in the Permian Basin

Oil Gas Leads

oil and gas production, and ONEOK Inc. During its Q4 2024 earnings call , ONEOK outlined significant infrastructure expansions, acquisitions, and future growth opportunities in the Permian. Crude Gathering & Pipeline Expansion ONEOK has integrated crude gathering and transportation assets from the Medallion and EnLink acquisitions.

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From Wellhead to Water: How Midstream Companies Are Shaping the Future of Energy Exports

Oil Gas Leads

This “Wellhead to Water” strategy is particularly evident in the Permian Basin, where crude oil, natural gas, and natural gas liquids (NGLs) production is growing rapidly. Pipeline Transportation Crude oil, natural gas, and NGLs move from production sites to storage and processing facilities. Why the Permian?

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Oil & Gas in 2025: Which Basin Will Dominate U.S. Energy and What’s Behind the $105 Billion in Oil Deals?

Rextag

oil and gas industry is experiencing one of its most transformative periods. Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. 2024 Production: 6.3 2024 Production: 6.3 MMBbl/d production increase in 2024.

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Energy Transfer: Capitalizing on Permian Growth and Expanding Global Energy Exports

Oil Gas Leads

Permian Basin: Unprecedented Growth Driving Midstream Expansion The Permian Basin continues to be the dominant driver of U.S. oil and gas production , with Energy Transfer reporting a 9% increase in legacy Permian throughput in 2024. Expansion of crude oil gathering systems and joint ventures to support increased production.

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Phillips 66 Doubles Down on Permian Basin Growth with EPIC Acquisition and New Processing Expansions

Oil Gas Leads

During their Q4 2024 earnings call , the company outlined how strategic acquisitions, processing expansions, and pipeline investments will drive growth in their Midstream business and position them to capitalize on rising NGL and crude demand. Crude oil and NGL volumes are rising , driving more demand for transportation and processing.

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