Range keeps 2018 capital spending under budget, misses Q4 production expectation
Range Resources Corp. said its 2018 capital spending came in about $20 million lower than its budget of $941 million due to savings from drilling efficiencies and water recycling, among other cost savers. The independent natural gas, NGL and oil producer estimated its production in the fourth quarter of 2018 to be about 2.15 Bcfe/d after losing approximately 10 Bcfe of production due to an operational downtime of its facilities in Pennsylvania, according to a Jan. 7 news release.
Energy Transfer puts 350-mile Mariner East 2 NGL pipeline in service
Texas-based Energy Transfer LP put its 350-mile Mariner East 2 natural gas liquids pipeline into service Dec. 29. The pipeline transports domestically produced ethane, propane and butane east from processing plants in Ohio across West Virginia and Pennsylvania to the company's Marcus Hook Industrial Complex in Delaware County, Pa.
Martin Midstream acquires tank truck operator from parent company
Martin Midstream Partners LP completed its acquisition of the tank truck operator Martin Transport Inc. from its parent company, Martin Resource Management Corp. Martin Transport operates a fleet of tank trucks that transport petroleum products, liquid petroleum gas and other products. The company also owns 23 terminals on the Gulf Coast and in the Midwest, according to a Jan. 2 news release.
Pa. shale drillers pull fewer permits, cluster near Pittsburgh
Pennsylvania's shale gas producers pulled 27% fewer permits to drill in December 2018 compared to the same month in 2017, according to state Department of Environmental Protection data, as the companies continued to measure their pace of operations to conserve cash. The number of permits for new wells has less correlation with production volumes as producers get more efficient, pulling more gas from fewer wells.