Devon Energy Corp. expects its Permian Basin natural gas production to increase along with its exposure to premium Gulf Coast pricing once the Matterhorn Express and Blackcomb pipelines enter service, according to management.
The Matterhorn Express Pipeline coming online is “going to be a positive, obviously not just for Devon specifically but the broader sector as we move more of those molecules away from the Waha hub,” said CFO Jeff Ritenour during Devon’s second quarter 2024 earnings call. Devon operates in the Permian’s Delaware sub-basin, as well as the Anadarko, Williston and Powder River basins, plus the Eagle Ford Shale.
Devon is part of the joint venture that developed the 2.5 Bcf/d Matterhorn project. The management team of EnLink Midstream LLC, another partner in the project, said Wednesday the pipeline is expected to enter service in September, a slight delay from previous projections for a summer 2024 in-service date.
