The Matterhorn Express pipeline is the first new natural-gas pipeline built in the Permian basin in three years
A new pipeline carrying shale natural gas from west Texas toward export hubs on the U.S. Gulf Coast has eased constraints that crashed local prices this year, and will help pave the way for higher U.S. oil production, energy executives said.
The line, a joint venture between WhiteWater Midstream, EnLink Midstream, Devon Energy and MPLX, can carry up to 2.5 billion cubic feet of gas per day, adding 14 per cent in new regional capacity as it ramps up this year. Gas prices at the Waha hub in west Texas have been broadly pricing above zero since mid-September, after Matterhorn started operating. Last week, Waha prices reached their highest level since mid-June, at $2.35 per million British thermal units.
Matterhorn will help unlock higher Permian oil output, said David Seduski, head of North American gas analysis at consultancy Energy Aspects. It estimates Matterhorn carried 0.6 bcf/d last week. Permian crude-oil production is forecast to rise by 6.1 per cent to 6.27 million bpd this year, and hit 6.5 million bpd next year, according to the Energy Information Administration, due in part to improved drilling efficiency.
Gas Pipeline Bcfd Matterhorn Oil Bpd Permian United States Federal Reserve Bank Of Dallas Devon Energy EIA
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gary Bettman swings big as NHL hitches its wagon to Amazon expressThe NHL commissioner is positively giddy over deal that see Amazon Prime Canada hosting NHL games
Read more »
Political Parties Express Reservations About New Regulations for Nomination ProcessesSeveral federal political parties in Canada have voiced concerns about proposed regulations aimed at preventing foreign interference in candidate nomination processes. While Elections Canada has suggested changes to safeguard nominations, including barring non-citizens from assisting and requiring parties to publish contest rules, representatives of the Bloc Québécois, Green Party, and NDP have raised concerns about implementation challenges and potential drawbacks.
Read more »
Kingston Encampment Cleared as Neighbours Express HeartbreakA makeshift encampment in Kingston, Ont.'s Belle Park was demolished Friday morning by city workers. Residents expressed heartbreak over the loss of their homes despite a previous court ruling against the city's attempts to clear the area.
Read more »
Tia Mowry Speaks Out After Fans Express Shock Over Her Remarks About Twin TameraKimberley Richards is a Trends Reporter at HuffPost.
Read more »
'People will suffer': Albertans express concerns over province's new regional victim services modelAlberta rolled out a new regional model for victim services this week, prompting concerns from Albertans who've utilized the program.
Read more »
Why this money manager is buying American Express and Aon, and selling Comfort SystemsEffie Wolle, president and CIO at Toronto-based GFI Investment Counsel, is also buying Booz Allen Hamilton Holding Corp. for his client portfolios
Read more »