Oil Economy Focus Rapid Review
Oil drilling and well completions activities are slowing in the Permian Basin because of the lack of pipelines to carry the oil to refining and export hubs. More companies are relying on trucks and trains to move the crude. However, Energy Transfer Partners, Magellan Midstream Partners and others are teaming up on a new 600-mile Permian pipeline system to Houston to come online in mid-2020. Also, Plains plans to complete the Cactus II pipeline system by late 2019; EPIC Midstream Holdings is moving forward with the 730-mile EPIC Crude Oil Pipeline project; as is Phillips 66 with its planned Gray Oak Pipeline.
LINK TO THE SOURCE ARTICLE:New Permian pipelines to Gulf coast
