West Texas' Permian losing luster as companies look elsewhere
https://www.chron.com/business/energy/article/West-Texas-Permian-losing-luster-as-companies-13244072.phpSeptember 20, 2018
A new government report says that a lack of pipeline capacity in West Texas's Permian Basin oil field is forcing companies to look elsewhere to invest in drilling and production.
The Department of Energy report released Wednesday said companies operating in other oil and gas basins are redirecting their spending outside of the Permian, which stretches from Texas to New Mexico and is the top producing oil region in the U.S....
...The report says a lack of pipeline capacity and growing price differences between crude sold in Midland and the Gulf Coast are leading to companies spending money elsewhere. Oil in Midland, where oil supplies are high because they can't easily be shipped to Gulf Coast markets, was selling for $20 a barrel less than along the Gulf Coast in August and September....