Frack crew, supply chain shortages slow growth More bullishness on growth in 2023 Crude oil volumes out of the Permian Basin are still rising to new highs despite supply chain issues and continued capital discipline from publicly traded producers, midstream CEOs said during a series of earnings calls.
NuStar Energy said May 5 its first-quarter Permian crude volumes averaged 510,000 b/d, which is a massive 27% spike over the same period last year. NuStar CEO Brad Barron said the Permian flows could exit 2022 at 570,000 b/d and easily exceed 600,000 b/d in 2023. “Our well-positioned Permian crude system, located in some of the most active counties of the basin, continues to outpace the production growth of the Permian Basin as a whole,” Barron said. “We are encouraged by what they [customers] are telling […]