2018 Bracewell Permian Pipeline Representations
From the Permian to the Gulf Coast – Bracewell Leads the Way in Representing Midstream Companies, Investors, and Shippers For years, no one ever suspected that Saudi Arabia’s Ghawar oil field, which has yielded 5 million barrels of petroleum per day for decades, would ever be surpassed. As upstream companies scour the world over to unearth the “next great find” some fields have come close but never to the same level. Most recently, that assessment has shifted because of one play – the Permian Basin.
The Permian Basin, located in West Texas, has been producing oil since the 1920s and reached 2 million barrels per day in the 1970s. Over the next decade or so, production declined and did not creep back up until approximately 2010. Around that time, hydraulic fracturing came into play and production began to skyrocket. By the end of 2018, production had reached 3.8 million barrels per day, making it the second leading oil field in the world. While the introduction of new technology has reversed the trend of declining exploration and production in the Permian, getting the product to market presented a bottleneck and opportunity for Bracewell and its midstream clients. Representing the project entity, a major investor, or a major shipper, the firm was directly involved in the development of 10 of the 16 long haul Permian-to-Gulf Coast
pipelines announced in 2018. As the Permian continues to rival Ghawar in terms of total production, midstream companies will continue to expand and face a myriad of challenges. Bracewell is well positioned to lead the way representing these companies, investors, and shippers. Bracewell’s 2018 Permian Midstream Projects include: Cactus II – The Cactus II pipeline system includes a combination of capacity on existing crude oil pipelines and two new 26-inch pipelines. It is expandable to approximately 670,000 barrels per day. Bracewell is representing Plains All American in various arrangements for the pipeline. Epic Crude – EPIC Midstream Holdings, LP and its strategic partners, Altus Midstream (an affiliate of Apache Corporation) and Noble Energy Inc., are developing the EPIC Crude Oil Pipeline. The
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