Shale drillers in West Texas are entering into two-year futures contracts because they don’t believe new pipeline infrastructure will be finished by 2020. Photo by Gary C. Caskey/UPI | Sept. 14 (UPI) — New pipeline infrastructure can’t get built fast enough in the Permian Basin, where oil is selling at a $15 discount and producers are locking in prices for the next two years. New multi-billion pipeline projects are under construction or planned over the next few years to get the crude oil and natural gas to refineries on the Gulf Coast. But a new report by Wood Mackenzie shows producers don’t have faith that the pipelines will be done on time. The number of Permian producers hedging their bets for 2020 increased by more than five times in the second quarter. Companies doing the most hedging include Concho Resources, Energen Corp. and Noble Energy. “The only reasonable conclusion […]