Manonthestreet
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- May 20, 2014
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Bloomberg) -- Exxon Mobil Corp. plans to reduce the cost of pumping oil in the Permian to about $15 a barrel, a level only seen in the giant oil fields of the Middle East.
Exxon plans to deploy 55 rigs in the Permian this year, by far the most of any driller, as it aims to increase output in the region fivefold to about 1 million barrels a day by 2024. Its strategy also includes building its own takeaway infrastructure from separation tanks to pipelines, and it’s even joining a giant conduit project to make sure its oil doesn’t get stuck in bottlenecks that have depressed prices in West Texas. Exxon Plans for $15 per Barrel Permian Costs
Tellurian Inc. reported Monday that it is holding a binding open season to secure prospective shippers for its proposed Permian Global Access Pipeline (PGAP), an approximately $3.7 billion conduit that would deliver Permian natural gas to Southwest Louisiana.
The proposed 42-inch diameter interstate natural gas pipeline would originate at the Waha Hub in Pecos County, Texas, and terminate at Gillis, La., which is located north of Lake Charles – where Tellurian has proposed building its $15.2-billion Driftwood LNG export facility. Tellurian noted that the 625-mile-long pipeline would be able to transport at least 2 billion cubic feet of gas per day. The company added that construction could start as soon as 2021 and that the pipeline could begin service as early as 2023. $3.7B Gas Pipeline Would Combat Permian Flaring
And that's just one player. Chevron and Shell bulking up too. One of the best anti-terrorism policies we can pursue, take massive bites out of the petro terrorist states wallets and provide more high paying jobs for fellow Americans. Drill baby drill....yo cant do that ….what a stupid simplistic policy
Exxon plans to deploy 55 rigs in the Permian this year, by far the most of any driller, as it aims to increase output in the region fivefold to about 1 million barrels a day by 2024. Its strategy also includes building its own takeaway infrastructure from separation tanks to pipelines, and it’s even joining a giant conduit project to make sure its oil doesn’t get stuck in bottlenecks that have depressed prices in West Texas. Exxon Plans for $15 per Barrel Permian Costs
Tellurian Inc. reported Monday that it is holding a binding open season to secure prospective shippers for its proposed Permian Global Access Pipeline (PGAP), an approximately $3.7 billion conduit that would deliver Permian natural gas to Southwest Louisiana.
The proposed 42-inch diameter interstate natural gas pipeline would originate at the Waha Hub in Pecos County, Texas, and terminate at Gillis, La., which is located north of Lake Charles – where Tellurian has proposed building its $15.2-billion Driftwood LNG export facility. Tellurian noted that the 625-mile-long pipeline would be able to transport at least 2 billion cubic feet of gas per day. The company added that construction could start as soon as 2021 and that the pipeline could begin service as early as 2023. $3.7B Gas Pipeline Would Combat Permian Flaring
And that's just one player. Chevron and Shell bulking up too. One of the best anti-terrorism policies we can pursue, take massive bites out of the petro terrorist states wallets and provide more high paying jobs for fellow Americans. Drill baby drill....yo cant do that ….what a stupid simplistic policy
