Diamondback Energy, EQT: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

PIPELINES
Diamondback, Kinetik Buy Stake in EPIC Crude Oil Pipeline System - Oil and gas firms Diamondback Energy Incorporated (NASDAQ:FANG) (Midland, Texas) and Kinetik Holdings (NYSE:KNTK) (Midland) on Tuesday said they acquired an equity interest in the EPIC Crude pipeline system. The companies will each own 27.5% of EPIC Crude, while parent EPIC Midstream (Houston, Texas) will continue to own a 45% stake in the pipeline. EPIC Crude is an 800-mile crude oil pipeline system that connects Delaware Basin, Midland Basin and Eagle Ford supply to EPIC's 3.4 million-barrel Robstown Terminal near Corpus Christi. (Reuters)

PRODUCTION
CEO: EQT to Reverse Some Natural Gas Production Curtailments in October - U.S. energy company EQT Corporation (NYSE:EQT) (Pittsburgh, Pennsylvania) plans to reverse some natural gas production curtailments in October and November as demand for the fuel and prices increase, EQT Chief Executive Officer Toby Rice told Reuters on Wednesday. EQT, the biggest U.S. gas producer, has along with other U.S. drillers curtailed output in 2024 after prices collapsed to multi-year lows in the spring following a mild winter that left a tremendous oversupply of fuel in storage. (Reuters)

CRUDE OIL
U.S. Crude Oil Stocks Sink to Two-and-a-Half-Year Low - U.S. oil inventories fell across the board last week, the U.S. Energy Information Administration (EIA) said on Wednesday, with crude oil stockpiles hitting their lowest level in nearly two and a half years. Crude stocks dropped by 4.5 million barrels to 413 million barrels in the week ending September 20, the EIA said. Crude oil inventories, excluding those in the Strategic Petroleum Reserve, were at their lowest last week since April 2022. Gasoline stocks fell by 1.5 million barrels in the week to 220.1 million barrels, the EIA said. Distillate stockpiles fell by 2.2 million barrels in the week to 122.9 million barrels. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).