Permian Shrink Continues with $4.5B APA-Callon Deal
APA Corp. will acquire Callon Petroleum for $4.5B. The deal likely will result in rig cuts, continuing the consolidation trend…
Crude
Permian Exits 2023 at Record Crude Production
The US rig count held steady W-o-W at 595 rigs. Liquids basins lost 1 rig over the December 31 week…
DJ Basin Crude Recovery is Nearly Complete
Oil production from the Denver Julesburg Basin has been steadily rebounding off lows hit in the 2020 downturn and will…
DJ Basin Production Nears Previous Highs
East Daley expects Denver Julesberg Basin oil production to near pre-COVID highs in 1H24.
Best of 2023: TMX Earthquake to Send Tremors Through US Crude
Affect of Canada’s Trans Mountain Pipeline expansion on crude oil flows from Louisiana to the Midwest, according to East Daley’s…
Shell Wins Big in GoM Lease Sale
The US rig count increased by 5 W-o-W with total rigs settling at 594. Liquids basins remained flat W-o-W with…
Best of 2023: Barrels Wanted: $7.1B Crestwood Acquisition May Boost ET’s Downstream Volumes
Crestwood, Crude, Energy Transfer, Equitrans Midstream, Natural Gas Liquids, Oneok, Powder River, Targa, The Daley Note
Energy Transfer’s $7.1B acquisition of Crestwood Equity (CEQP) gives ET reach in new basins and could lift volumes on several…
Best of 2023: ONEOK Joins Midstream Elite with $19B Magellan Purchase
ONEOK’s (OKE) $18.8B acquisition of Magellan Midstream Partners (MMP) places the company at the head table in Midstream.
Enbridge Wins Approval for Line 5 Replacement Project
Michigan regulators have approved an application by Enbridge (ENB) to replace a segment of the Line 5 pipeline running under…
EIA Lowers Crude Forecast vs EDA in 2024
The EIA expects US crude oil production to average 13.11 MMb/d in 2024, up from 12.93 MMb/d in 2023. The…