TC Energy Corp.’s Keystone oil pipeline has returned to service following the approval of their repair and restart plan by the U.S. Pipeline And Hazardous Materials Safety Administration (PHMSA) on Nov. 10.
As part of the restart plan, the pipeline will operate at reduced pressure with a gradual increase in volume of crude oil moving through the system, the company said in a statement on Sunday.
The 590,000-barrel-per-day Keystone pipeline has been shut since Oct. 30 after a drop in pressure was detected and more than 9,000 barrels of oil spilled out.
Some wells in the Permian’s Delaware sub-basin can clear a ‘10% half-cycle hurdle rate even with WTI below US$30/bbl,’ Wood Mackenzie says.
Russia is taking a leaf out of the U.S. shale playbook so it can ramp up oil production quickly and hang on to its share of the global market when demand finally recovers after the coronavirus pandemic.
The Anadarko Basin’s Simpson shale formation is being called “one of the biggest yet-to-be-developed shale plays in the United States.”