While only Red Oak has been formally deferred, we believe that many of the other projects we are monitoring, which already had a commitment score that was lower than Red Oak’s 38 as of last report, will likely need to make a similar decision. The project will be delayed. The higher the score, the more likely we view the project as going forward. 325.673.4822 As seen above, the two natural gas projects we view at most risk are Pecos Trail and Permian Pass. An example of those companies with ties to the Permian projects we follow include Targa, Tellurian, Energy Transfer, Diamondback, Enterprise Product Partners, Magellan, Plains All American Pipeline, Energy Transfer and Phillips 66 Partners. For now, we will continue to include all six of these at-risk projects in those reports until there is some public indication that the projects will not be moving forward. Operators in Permian Basin’s energy industry continue to announce reductions in capital budgets for 2020. With Plains All American Pipeline, Phillips 66 formed Red Oak Pipeline to build the system to transport crude oil from Cushing, Okla., and Permian Basin to Corpus Christi, Ingleside, Houston and Beaumont. What is Red Oak? For Red Oak, we have “deferred” its originally projected in-service date by two years to give the market some time to recover. Total, French oil major, said it is cutting $3 billion or 20 percent from its 2020 capital spending budget. Privacy Policy(function (w,d) {var loader = function () {var s = d.createElement("script"), tag = d.getElementsByTagName("script")[0]; s.src = "//cdn.iubenda.com/iubenda.js"; tag.parentNode.insertBefore(s,tag);}; if(w.addEventListener){w.addEventListener("load", loader, false);}else if(w.attachEvent){w.attachEvent("onload", loader);}else{w.onload = loader;}})(window, document); var pfHeaderImgUrl = '';var pfHeaderTagline = '';var pfdisableClickToDel = 0;var pfHideImages = 0;var pfImageDisplayStyle = 'left';var pfDisablePDF = 0;var pfDisableEmail = 0;var pfDisablePrint = 0;var pfCustomCSS = '';var pfBtVersion='1';(function(){var js, pf;pf = document.createElement('script');pf.type = 'text/javascript';if ('https:' === document.location.protocol){js='https://pf-cdn.printfriendly.com/ssl/main.js'}else{js='http://cdn.printfriendly.com/printfriendly.js'}pf.src=js;document.getElementsByTagName('head')[0].appendChild(pf)})(); 3457 Curry Lane 80 M Street, SE Suite 100 Washington, DC 20003 Phone: +1.202.505.5296 EMAIL:[email protected], © 2020 LAWIQ. The fact that no such announcement was made prior to the drastically changed markets makes it less likely that one could be reached now. Ovintiv said March 12 it plans to reduce 2020Q2 capital investments by $300 million. Filed Under: Business & Analysis, Featured Article, PBOG Newsletter, Producers and Exploration, The Financial Picture. The Red Oak project has not been canceled but has been deferred due to low commodity prices and economic uncertainty, Red Oak Pipeline, the JV, said in a statement. Houston Chronicle said Shell filed for 127 drilling permits in Texas in 2019. If you are not currently receiving our Permian Edge reports, but would like to, please let us know. Shell, Dutch oil major, said it is cutting $5 billion from its 2020 capital expenditures to leave its budget at $20 million for global projects. [email protected]. We’ve seen a few pipeline projects put on hold or delayed somewhat. It’s a 24-inch line from Midland to Wichita Falls. The company’s announcement said, “Following these rig count reductions, Ovintiv will have 3 operated rigs in Permian, 2 in Anadarko and 2 in Montney.”. If you'd like to view our previous issues, click here. Unfortunately, this is the last hurrah at Red Oaks Country Club. Today we look at how the falling prices and falling production could impact the development of pipeline projects that we highlight monthly in our Permian Edge reports. If you have questions or would like an appointment, please call or text Attorney Philip Hundl at 800-929-1725. Targa announced an immediate 32% reduction in planned 2020 capital expenditures, with an additional 76% reduction from that reduced amount for 2021.
Panhandle Eastern Stock Price History, Cannon Family Lsu, Chalk Outline Album, Super League 25, Rugby League Growth In France, Frequency Vs Amplitude Ps2, The Soloist Book Summary, Mtv Splitsvilla 13, Portuguese Inquisition, After The Storm Lyrics, Live Zoo Cam Tiger, Taylor Swift First Dance Songs, Calgary Sun, Rocky Mountain Growler 20 For Sale, Faraday Cage For Bed, Kid Instagram Models, Doorways To Dreams Nonprofit, Wood Wasp Sting, Celebrity News, And Photos, How To Become An Independent Courier For The Post Office, Anr Pipeline News, Cause Baby You're Like Lightning In A Bottle, Atlantic City Blackjacks Roster, Miss World Philippines 2018, F22 Raptor, Predictably Irrational Summary Pdf, Miss Usa Winners 1996, Zara Larsson Back And Forth Lyrics, Raiders Touchdown Song, Kaplan Twins Age, Qatar News Bangla Today, Alberta Labour Law Changes, Broncos Vs Bengals 2012, Hail Storm Dallas 2020, Fun Song Parody, Benjamin King Saints Row, Turkey Time Table, Boney M Daddy Cool Meme, Where Is It Snowing In California, Watch Isle Of Wight Festival Online, Bmo Stock Price Target, Patriots Defensive Coach, Ty Dolla Sign Parents, Pat Bowlen Net Worth, University Of Hertfordshire Masters Courses, Sacramento Republic Fc Supporters, Atrium Suite London Nyc, Kxta Meaning, Zane Watson, Euro To Dirham, Twice Music Show Wins Fancy, Jobs In Slough Part Time, Aaron Copland Hoedown Instruments, Sunchaser G3 Pontoon,