Constellation Energy said January 10 it will acquire privately held Calpine in a cash-and-stock deal valued at $26.6 billion, giving the combined company about 60 gigawatts (GW) of power generation capacity from no- or low-emissions sources at a time when power demand is expected to rise thanks t
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 Jeremy Meier - Friday, 1/10/2025 (2:30 pm)
After five consecutive weeks at 589, US oil and gas rig count fell to 584 for the week ending January 10 according to Baker Hughes data, a decline of five. Rigs were added in the Anadarko (+3), while the Eagle Ford (-3), Niobrara (-1) and All Other (-4) all lost rigs.
By Martin King - Friday, 1/10/2025 (2:30 pm)
Re-exports of Canadian heavy crude oil recovered to 83 Mb/d in November, up from a four-year low of zero in October, and 142 Mb/d less than a year ago, according to data published by the U.S. Census Bureau.
By Martin King - Friday, 1/10/2025 (12:30 pm)
For the week ending January 10, Baker Hughes reported that the Western Canadian gas-directed rig rose 22 to 72 (blue line and text in left hand chart below), eight less than one year ago and its largest one-week increase since the beginning of 2021.
By Jason Lindquist - Friday, 1/10/2025 (8:30 am)
Report Highlight: Crude Oil Billboard
Oil production has begun at Shell and Chevron’s Whale platform in the Gulf of Mexico, the companies announced January 9. The platform sits in more than 8,600 feet of water in Alaminos Canyon Block 773, about 200 miles southwest of Houston.
By TJ Braziel - Thursday, 1/09/2025 (3:15 pm)
Report Highlight: Crude Oil Billboard
Canadian crude imports into the U.S. hit a record high weekly volume for the week ended January 3, surging by 690 Mb/d to reach 4.42 MMb/d. This significant increase in Canadian imports occurred despite an overall decline in crude imports by 500 Mb/d to 6.43 MMb/d.
By Martin King - Thursday, 1/09/2025 (1:00 pm)
Alberta’s crude oil output in November 2024 reached a record high of 4.20 MMb/d (pink dashed rectangle in chart below), inching out ahead of the prior record holder of 4.19 MMb/d set in December 2023 (black dashed rectangle) according to data released by the Alberta Energy Regulator (AER).
By Lisa Shidler - Thursday, 1/09/2025 (11:00 am)
By RBN Team - Wednesday, 1/08/2025 (3:15 pm)
Report Highlight: U.S. Propane Billboard
Due to cold weather throughout the country, propane prices increased during the past week, settling at 86 c/gal on January 7. Mont Belvieu (non-TET) propane prices increased by 5 c/gal, or 7% and Conway propane prices increased by 9 c/gal or 12%.
By Taylor Noland - Wednesday, 1/08/2025 (1:15 pm)
Report Highlight: Crude Oil Permian
Plains All American Pipeline has entered into three separate bolt-on acquisitions for an aggregate cash consideration of approximately $670 million. These acquisitions further bolster Plains' crude oil infrastructure footprint in the Permian, Eagle Ford and Midcontinent.
By Taylor Noland - Tuesday, 1/07/2025 (12:45 pm)
Report Highlight: Crude Oil Permian
Permian Basin crude oil flows to Houston extended their recovery in August 2024, according to the latest monthly data from the Texas Railroad Commission, rebounding from the sharp decline in June — the lowest volume since September 2023 (see blue line in chart below).
By RBN Team - Monday, 1/06/2025 (12:30 pm)
The ratio of NGL prices to crude oil started the year at the highest level since September 2022, as shown in the right graph below, green dashed oval. This NGL-to-crude metric is the average per barrel price of a basket of Mont Belvieu NGLs divided by the price of Cushing NYMEX domestic sweet (WT
By Jeremy Meier - Friday, 1/03/2025 (2:45 pm)
US oil and gas rig count begins 2025 at 589 rigs, down 32 from the opening week of 2024. Rig count was unchanged from the prior week, marking a streak of four consecutive weeks with no change.
By Martin King - Friday, 1/03/2025 (2:45 pm)
For the week ending January 3, Baker Hughes reported that the Western Canadian gas-directed rig count fell one to 50 (blue circle in left hand chart below), 17 less than one year ago and its lowest level since early June 2023.
By Lisa Shidler - Friday, 1/03/2025 (1:00 pm)
WBI Energy is considering developing a new pipeline that would take natural gas from the Bakken to the east in North Dakota.
By Jason Lindquist - Friday, 1/03/2025 (8:45 am)
Most oil and gas executives expect their firm’s capital spending to rise in 2025 compared with 2024, although larger firms are more likely to anticipate a decrease, according to the latest Dallas Fed Energy Survey, which was published January 2.
By RBN Team - Thursday, 1/02/2025 (4:15 pm)
Report Highlight: U.S. Propane Billboard
The EIA reported total U.S. propane/propylene inventories had a withdrawal of 552 Mbbl for the week ended December 27, which was below industry expectations for a decrease of 3.23 MMbbl and below the average draw for the week of 2.3 MMbbl. Total U.S.
By John Abeln - Thursday, 1/02/2025 (3:30 pm)
Report Highlight: LNG Voyager
Since Russia began its large-scale invasion of Ukraine in February 2022, interruptions in the flow of Russian natural gas to Europe have roiled energy markets on the continent – and created new opportunities for U.S. LNG exporters.
By Taylor Noland - Tuesday, 12/31/2024 (8:45 am)
Report Highlight: Crude Voyager
U.S. crude oil exports averaged 4 MMb/d last week, a modest increase of 24 Mb/d from the prior week, marking the third consecutive week of stable volumes.
By Taylor Noland - Tuesday, 12/31/2024 (8:45 am)
Report Highlight: Crude Oil Permian
Permian Basin crude oil flows to Houston showed signs of recovery in July 2024, rebounding from the sharp decline in June that marked the lowest volumes since September 2023 (see blue line on the chart below), according to the latest monthly data from the Texas Railroad Commission. The dip in Jun
