Updated Sep 25, 2024
9/25/24
Privately held Voyager Midstream Holdings has snapped up a package of natural gas gathering and processing assets in the Haynesville Shale that include the Carthage hub, a trading and delivery point capable of handling 1 Bcf/d-plus.
Phillips 66 agreed to acquire Pinnacle Midland Parent LLC in an all-cash deal that would expand its natural gas gathering and processing operations in West Texas.
Phillips 66 has budgeted $2 billion in its capital program next year, including $865 million for sustaining capital and $1.1 billion for growth capital.
Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from Friday’s record levels.
Phillips 66 has completed a $1.4 billion infrastructure upgrade near its Houston Ship Channel facilities to serve the Permian Shale and Eagle Ford Shale.
Tulsa-based Samson Resources II LLC reported 30-day initial production of 2,339 boe/d (97% oil) from the Spearhead (Federal 11-2635 4075) well in the Shannon formation in Converse County, WY, within the Powder River Basin. With about 145,000 net acres in the PRB, the board is considering expanding its delineation program. An operating budget is be finalized late in 1Q2019.