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More icy weather is expected this week in the Permian Basin of Texas, after last week's hard freeze that snarled truck traffic, caused power outages and disrupted oil and gas work.
- Apache (APA -1.1%), a leading Permian oil producer, said today it suffered a modest impact from the freezes, while Pioneer Natural Resources (PXD -1.1%) said yesterday severe winter weather had disrupted its production and drilling operations in the Permian.
- Energy intelligence service Genscape says lost output last week in the Permian amounted to ~2.3M barrels.