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With rising natural gas and NGL output exceeding expectations , midstream companies are ramping up investments in infrastructure to meet growing demand. ” The Pion Midstream acquisition in 2024 reinforced Enterprises position in sour gas processing. Our goal is to export over 100 million barrels a month by 2027.”
That compared to an average of 50 cents a barrel a year ago, when record crude production at the top U.S. million barrels in the Permian were cut by the recent cold weather that hit operations, according to estimates from analysts at consultancy Energy Aspects. million barrels last week, its highest level in four months.
On February 11, Energy Transfer reported its financial results for the fourth quarter and year ended 2024 with an earnings call hosted by co-CEOs Tom Long and Mackie McCrea. This was another strong quarter for Energy Transfer, with robust growth in adjusted EBITDA compared to Q4 2023. billion compared to $3.6
This deal boosted Exxons daily output by over 700,000 barrels of oil equivalent per day (boe/d). shale, positioning it as a leader in energy transition discussions. Production increased by 460,000 boe/d, making Chevron a major player in international energy markets. Sunocos Acquisition of NuStar Energy Value: $7.3
As the leaves fall and we settle into Halloweens cozy, pumpkin-spiced vibes, its not just the ghostly shadows creeping through the energy sector; major oil companies have reported mixed Q3 earnings, facing various challenges and surprises. Grab your pumpkin latte and settle in for a spooky yet festive wrap-up of the energy sector! ????
Energy Transfer’s latest earnings call highlighted record-breaking production in the Permian Basin, strategic midstream and pipeline investments, and surging global demand for LNG, LPG, and NGL exports. Permian Basin: Unprecedented Growth Driving Midstream Expansion The Permian Basin continues to be the dominant driver of U.S.
energy production. 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. This move is a response to surging NGL production in the Permian.
One such transaction involves Scout Energy Management LLC , which has acquired multiple production facilities from ConocoPhillips in Pecos and Reeves counties, Texas. The regulatory filings include a change in the TCEQ Account ID , ensuring that Scout Energy Management is now recognized as the responsible party for emissions compliance.
CEO Murray Auchincloss, speaking at the CERAWeek conference in Houston, highlighted the companys renewed focus on oil and gas, marking a strategic pivot from its previous emphasis on renewable energy. In 2023, BP produced 434,000 barrels of oil equivalent per day (boepd) in its U.S. This growing demand for U.S.
It was another exciting and successful year for Energy Transfer and Sunoco, with everything from impactful acquisitions and a major pipeline deal to sports sponsorships and record-breaking donations. JANUARY Sunoco LP Acquired NuStar Energy L.P. billion, Sunoco , which is part of the Energy Transfer family, acquired NuStar L.P.
The company reported 833,000 barrels of oil equivalent per day (boe/d) in the Permian for Q4 2024, attributing its success to significant efficiency improvements. We’ve got 2,000 competitive well locations, as Ryan mentioned, around that $40 per barrel cost of supply.
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