“On the operational side, it’s all about timing,” said Bernadette Johnson, vice president of market intelligence for Drillinginfo Inc. “How far we need to move all these molecules to get to the coast.”
During a break at the Midstream Finance Conference in Dallas, Johnson also told Steve Toon, editor-in-chief of Oil and Gas Investor, that while the Permian Basin is “ground zero” for bottlenecks, takeaway capacity is an issue in several areas across the industry. In the NGL space, a lack of pipelines has spurred price volatility for ethane and others.
The oil and gas rig count rose five to 402 in the week to Feb. 26, its highest since May, energy services firm Baker Hughes Co. said.
A Wolfcamp Shale discovery by Chevron, results from a PDC Energy Wattenberg Field venture in Colorado’s Weld County plus Antero Resources Marcellus completions in West Virginia top this week’s oil and gas drilling activity highlights from around the world.
Alongside a recently announced tax break, Lopez Obrador said Pemex would get support of around 100 billion pesos ($4.80 billion).