A few months ago a fella named Toby Rice, with EQT, whined like a little girl about lack of pipeline takeaway from the APP Basin and the same whining has been occurring from the Permian for a long time.
Half these C+C pipelines were shoved down landowners throats by imminent domain horse apples. 3.5MM BOPD off additional capacity was added in 2021, about 1.5 MM BOPD will be completed in 2022. That pipe now sits empty or are only partially full...because of over-build...overshoot. People do stupid stuff with other people's money. When I look at the near long term future of production from an overcrowded Permian Basin with maybe 4-6 years left to go, wow! I have no idea where that oil well come from.
Imagine borrowing money to build pipe that gathers product from tight oil plays that decline like a meteor dropping out of the sky, whose operators have to defer debt and/or add debt to extract the product.
Its a house of copy paper.