RBN estimates that combined natural gas production of the equity partners in LNG Canada rose 0.22 Bcf/d in August to 2.06 Bcf/d (combined height of the rightmost colored bars in top chart below), 0.32 Bcf/d higher than a year ago and is the third highest combined output for the equity partners to
Analyst Insights
Analyst Insights are unique perspectives provided by RBN analysts about energy markets developments. The Insights may cover a wide range of information, such as industry trends, fundamentals, competitive landscape, or other market rumblings. These Insights are designed to be bite-size but punchy analysis so that readers can stay abreast of the most important market changes.
By Sheela Tobben - Monday, 10/07/2024 (2:30 pm)
Chevron Canada has entered into a definitive agreement to sell its interests in the Athabasca Oil Sands (AOS) Project, the Duvernay shale, and related assets all located in Alberta, CA, to Canadian Natural Resources Limited (CNRL).
By Taylor Noland - Monday, 10/07/2024 (1:00 pm)
Report Highlight: Crude Oil Permian
Crude oil flows from the Permian Basin to the U.S. Gulf Coast (USGC) dipped in April for the second consecutive month, decreasing to 5.4 MMb/d. Despite the decline, April’s volumes remain 2% higher than the average for 2023.
By Martin King - Sunday, 10/06/2024 (4:30 pm)
As reported by the Alberta Energy Regulator (AER), Alberta’s oil production was 4.0 MMb/d in August 2024 (rightmost stacked bars in chart below), a record for the month, 161 Mb/d higher than a year ago and the fifth time that the province’s oil output was at or better than 4 MMb/d.
By Martin King - Friday, 10/04/2024 (3:15 pm)
For the week ending October 4, Baker Hughes reported that the Western Canadian gas-directed drilling rig count fell two to 63 (blue line in left hand chart below), nine less than one year ago and near a three-month low.
By Jeremy Meier - Friday, 10/04/2024 (2:45 pm)
US oil and gas rig count continued last week's downward trend falling to 585 for the week ending October 4, a decline of two. vs. a week ago according to Baker Hughes.
By Jason Lindquist - Friday, 10/04/2024 (11:45 am)
Inspections at the Palisades Nuclear Plant in Michigan found that its steam generator tubes had indications of stress cracking that “far exceeded estimates” based on the plant’s previous operating history, according to a report published October 2 by the Nuclear Regulatory Commission (NRC).
By John Abeln - Thursday, 10/03/2024 (3:30 pm)
Report Highlight: NATGAS Billboard
The Energy Information Administration (EIA) reported that a net 55 Bcf of natural gas was injected into storage for the week ended September 27 in the U.S. Lower 48. This was roughly in line with market expectations, as the nine predictions to the Bloomberg survey had a median of 57 Bcf.
By Taylor Noland - Thursday, 10/03/2024 (3:00 pm)
Summit Midstream has agreed to acquire Tall Oak Midstream III, an affiliate of Tailwater Capital LLC, for a total consideration of approximately $450 million, comprised of both cash and equity. The transaction is expected to close in Q4 2024.
By Sheela Tobben - Thursday, 10/03/2024 (12:00 pm)
The Bureau of Safety and Environmental Enforcement (BSEE) awarded a contract for decommissioning eight orphaned pipelines in the Matagorda Island lease area, about 12 miles off the Texas coast. The BSEE is the regulatory authority for the Outer Continental Shelf (see Figure below).
By Kristen Hays - Thursday, 10/03/2024 (8:15 am)
Enbridge will build $700 million of crude oil and natural gas pipelines in the Gulf of Mexico (GOM) to move production from BP’s Kaskida development to shore.
By Sheela Tobben - Wednesday, 10/02/2024 (3:15 pm)
Trans Mountain Pipeline (TMP) will undergo unplanned maintenance from October 7 through November 30 to give temporary protection for an exposed segment at a crossing of a non-fish bearing stream, its operator said in a filing with the Canadian regulator.
By Kristen Hays - Wednesday, 10/02/2024 (2:45 pm)
Report Highlight: LNG Voyager
Overall U.S. LNG feedgas averaged 11.99 Bcf/d last week, down 150 MMcf/d from the previous week, primarily driven by lower flows at Calcasieu Pass and ongoing maintenance at Cove Point LNG.
By Taylor Noland - Wednesday, 10/02/2024 (2:30 pm)
Report Highlight: Crude Voyager
U.S. crude oil loadings fell to 3.8 MMb/d last week, down 720 Mb/d from the previous week. The four-week moving average (dashed red line in chart below) now sits at 3.5 MMb/d — 10% below the year-to-date average of 3.9 MMb/d.
By Claudia De La Rosa - Wednesday, 10/02/2024 (2:00 pm)
Report Highlight: U.S. Propane Billboard
Total U.S. propane inventories and exports rose, which appears to signal few market effects from Hurricane Helene.
By Sheela Tobben - Tuesday, 10/01/2024 (2:45 pm)
The U.S. Department of Energy (DOE) bought 6 MMbbl of sour crude for delivery into its Bayou Choctaw reserve site in a tender that closed last month.
By Taylor Noland - Tuesday, 10/01/2024 (2:30 pm)
Report Highlight: Crude Oil Permian
Permian Basin crude oil flows to Houston dropped in April for the second consecutive month, following six months of growth that culminated in a record set in February 2024. April volumes totaled 2.22 MMb/d (see blue line on the chart below), marking a 285 Mb/d decline from the previous month.
By Martin King - Tuesday, 10/01/2024 (2:15 pm)
Data reported by the Canada Energy Regulator (CER) for Western Canada’s propane inventories at the end of August (red line in left hand chart below) were posted at 7.2 MMb, sporting a well below average build of 0.1 MMb versus July and stand 0.1 MMb (-0.6%) below the five-year average (blue line)
By RBN Team - Tuesday, 10/01/2024 (9:00 am)
Devon Energy has completed its previously announced $5 billion cash-and-stock acquisition of Grayson Mills Energy — marking yet another private equity-backed E&P cashing out. With this deal, Devon becomes the seventh-largest U.S.
By Sheela Tobben - Monday, 9/30/2024 (3:00 pm)
The planned merger of Chevron and Hess has cleared antitrust concerns from the Federal Trade Commission (FTC) with an agreement to prohibit Hess CEO John B. Hess from joining its Board of Directors.
