PRLog - Nov. 15, 2012 - EVERGREEN, Colo. -- EVERGREEN, CO (November 15, 2012) – BENTEK Energy, a leading energy markets information and analytics company, reports crude oil production in the Permian Basin currently exceeds takeaway capacity and local demand by 40 Mb/d, compared to 14 Mb/d in early October. As a result, since Oct. 1 the WTI Midland price discount to WTI Cushing has increased significantly and is now more than $6/bbl. Bentek reports this price spread will remain wide until early 2013, when constraints are alleviated by Sunoco’s West Texas Gulf and Magellan’s Crane-to-Houston pipeline expansions. Over the next few years, new pipeline infrastructure will be critical to sustaining growth rates and minimizing regional price volatility.
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Highlights from BENTEK’s PADD 3 (Southeast/Gulf)
• Permian takeaway capacity will likely be constrained by the end of 2016 if the BridgeTex pipeline is not built.
• Permian gas processing constraints may curtail oil production over the next few years.
• Eagle Ford oil production and pad drilling likely to increase in 2013.
• In the Anadarko, gas processing capacity will allow for continued oil growth through 2017.
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