In today’s briefing:
- Drop in Gas Rigs Leads to Fourth Straight Weekly Decline in US Rig Count
- Targa Resources Snubs Williams’ Offer? What Lies Ahead For The Pipeline Giant!
Drop in Gas Rigs Leads to Fourth Straight Weekly Decline in US Rig Count
- US oil and gas rig count fell by one to 582 for the week ending 06/Sep, marking a decline in rig count for the fourth consecutive week.
- The US oil rig count is unchanged at 483 for the third consecutive week. Meanwhile, gas rigs declined by one to 94, marking their lowest level since April 2021.
- For the week ending 30/Aug, US crude oil production stayed flat WoW at 13.3m bpd. In August, production reached a record high of 13.4m bpd on two occasions.
Targa Resources Snubs Williams’ Offer? What Lies Ahead For The Pipeline Giant!
- Targa Resources Corporation has presented its second quarter 2024 results, emphasizing strong performance across several fronts.
- The highlight of the quarter includes the operational beginning of the Train 9 fractionator in Mont Belvieu and the Roadrunner II plant in Permian Delaware, indicating a robust strategic growth in asset developments.
- These expansions are timely and critical due to the increasing volume across Targa’s systems, driven by record volumes in the Permian that led to elevated NGL transportation and fractionation volumes downstream.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
