COP News & Events

Western Midstream Partners, alongside its Joint Industry Project, or JIP, collaborators Chevron (CVX) U.S.A., ConocoPhillips (COP), Devon Energy Corporation (DVN), and Exxon Mobil (XOM), announced the start-up of its second produced-water treatment pilot facility, or JIP 2, near Red Bluff Reservoir in Reeves County, Texas. The facility is designed to receive 2,000 barrels per day of produced water and produce approximately 1,000 barrels per day of reclaimed freshwater, or approximately ten times the amount produced by JIP 1. This new facility builds upon the success of JIP 1 which evaluated and field-tested multiple produced-water treatment technologies to select preferred, high-performing solutions for ongoing operations. In 2023, WES and its collaborators created JIP 1, a small-scale pilot site in West Texas, to evaluate and measure technologies needed to commercialize beneficial use of produced water in the Permian Basin.

The U.S. will allow Iran to immediately begin selling oil and fuel under the deal to end the war, Dov Lieber, Summer Said and Alexander Ward of Wall Street Journal report, citing people familiar with the agreement. The waiver of sanctions takes effect immediately upon signing the agreement this week and also covers services including banking, transportation and insurance needed to facilitate the sales, sources told the Journal. Publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).