The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: thackney on June 05, 2019, 04:25:35 pm
-
America's Biggest Oil Hub is Growing
https://www.rigzone.com/news/wire/americas_biggest_oil_hub_is_growing-05-jun-2019-158994-article/ (https://www.rigzone.com/news/wire/americas_biggest_oil_hub_is_growing-05-jun-2019-158994-article/)
June 05, 2019
...The U.S. petroleum industry is planning to build about 4.8 million barrels of storage capacity and as many as seven new pipelines to move oil to and from the hub. The growth is a reminder of Cushing’s significance as a key trading hub for U.S. and Canadian crudes despite booming exports, according to speakers at last week’s Crude Oil Quality Association meeting in Oklahoma City.
Companies are building up Cushing, the delivery point for West Texas Intermediate futures, even as pricing in Houston is growing in importance for overseas markets. U.S crude exports reached 3.6 million barrels of crude per day during the week ended February 15, the highest since Washington ended restrictions in late 2015.
Six pipeline projects have been planned to move about 2 million barrels a day of crude away from Cushing by the end of 2021, but it’s unlikely they’ll all get built, according to Hillary Stevenson, Genscape Inc’s director of oil market business development. A more conservative estimate would be close to 750,000 barrels a day of new outgoing capacity, she said....
Cushing Exit Pipes Projects
Project - Type - Destination - Target - Capacity in b/d
Gladiator - New - Houston, Texas - Q 2020 - 300K
Diamond - Expansion - Memphis, Tenn./Capline - 3Q 2020 - 200K
Voyager - New - Houston, Texas - 4Q 2020 - 250K
Red Oak - New - Corpus Christi, Houston & Beaumont in Texas - 4Q 2020 - 400K
Seahorse - New - St. James & Plaquemine, Louisiana - 3Q 2020 - 800K
Marketlink - Expansion - Houston & Beaumont, Texas - TBD - TBD
Red River - Expansion - Longview, Texas - TBD - 85K
-
And this is in addition to any new pipeline projects going on to other places like Corpus Christi to handle increased Permian production.
Isn't it grand that most of this stuff never crosses state or international boundaries so Texas can get things done quicker, cheaper and easier compared to other places? @Smokin Joe 888high58888
-
And this is in addition to any new pipeline projects going on to other places like Corpus Christi to handle increased Permian production.
Isn't it grand that most of this stuff never crosses state or international boundaries so Texas can get things done quicker, cheaper and easier compared to other places? @Smokin Joe 888high58888
The grail of becoming truly long term energy independent is right up there for the grab. Let us complete the N/S pipelines, and we can tell the middle east to pound sand for hundreds of years.
Then tell the EU, that it is up to them to hold the muzzie hoard at bay (money, people, and resources)
-
And this is in addition to any new pipeline projects going on to other places like Corpus Christi to handle increased Permian production.
Isn't it grand that most of this stuff never crosses state or international boundaries so Texas can get things done quicker, cheaper and easier compared to other places? @Smokin Joe 888high58888
Our biggest problem was crossing 90 ft. under the flooded riverbed that is now the bottom of a lake. Of course, that was supposed to destroy everything forever, according to the Hollywood experts who came in and the paid protesters who cost the State (and local jurisdictions) over 80 million in Law Enforcement, private and public property damages and clean up costs. (not to mention the potential for damage by tampering with valves on active pipelines in the region).
I won't go into lost revenue for either the pipeline company, the State, the royalty owners, due to the bottleneck causing a continued discount on the price of a barrel of oil (up to $30, at one point) because of transportation issues.
We're doing better, but we'll likely need more takeaway capacity. We only have 700 or so DUC wells up this way right now, unlike the 4,000 or so in the Permian Basin, (about 8400 overall as of April)