EQT executives made it clear in their February 19 earnings call that the producer is sticking to its strategy of capital discipline and measured production growth, even as gas prices strengthen.
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 Christine Groenewold - Thursday, 2/20/2025 (1:45 pm)
Report Highlight: U.S. Propane Billboard
Total U.S. propane/propylene stocks had a draw of 3.6 MMbbl for the week ended February 14 (red bar in chart below), which was about 312 Mbbl more than the average draw of 3.3 MMbbl for the week (green bar in chart below).
By Taylor Noland - Wednesday, 2/19/2025 (10:15 am)
Report Highlight: Crude Voyager
U.S. crude oil exports averaged 4.3 MMb/d last week, up nearly 1 MMb/d from the prior week, with all regions seeing increased volumes. Houston (dark blue stacked area in chart below) saw the largest gain (+550 Mb/d) after the Houston Ship Channel closed for a day the prior week due to dense fog.
By Martin King - Tuesday, 2/18/2025 (12:15 pm)
Report Highlight: TradeView Report
In the past week, the price of the WTI cash roll turned negative, falling to $(0.10)/bbl (red dashed circle in chart below), suggestive of weak immediate demand for crude oil that is delivered to the Cushing, OK hub.
By Christine Groenewold - Tuesday, 2/18/2025 (11:30 am)
Report Highlight: Chart Toppers
The price of propane is up slightly to about 55% the price of NYMEX crude. This is the highest the ratio has been since April 2022 when the ratio averaged about 54%.
By Lisa Shidler - Tuesday, 2/18/2025 (10:30 am)
Report Highlight: LNG Voyager
The Department of Energy (DOE) pause on LNG export licenses is officially over as the department issued its first permit for a U.S. terminal since the Biden administration’s ban was enacted more than a year ago.
By Taylor Noland - Tuesday, 2/18/2025 (10:00 am)
Tallgrass, operator of the Pony Express Pipeline (blue line in map below), has launched a 30-day binding joint tariff open season in partnership with Bridger for incentive crude oil transportation rates from Bridger’s Guernsey, WY, hub.
By Jeremy Meier - Friday, 2/14/2025 (3:15 pm)
US oil and gas rig count posted its third consecutive weekly increase, adding two rigs and climbing to 588 for the week ending Fegruary 14 according to Baker Hughes. Rigs were added in the Permian (+1), Anadarko (+1) and All Other (+1), while the Bakken (-1) was the only basin to post a decline.
By John Abeln - Friday, 2/14/2025 (1:45 pm)
Kosmos Energy announced on February 10 that the Greater Tortue Ahmeyim LNG export facility has achieved first LNG production. The facility is located off the coast of the West African nations of Mauritania and Senegal.
By Martin King - Friday, 2/14/2025 (12:45 pm)
For the week ending February 14, Baker Hughes reported that the Western Canadian gas-directed rig count fell one to 71 (blue line and text in left hand chart below), 19 less than one year ago and holding at the bottom of the five-year range.
By John Abeln - Thursday, 2/13/2025 (3:15 pm)
Report Highlight: NATGAS Appalachia
The State of New York’s Department of Environmental Conservation approved permits last Friday for the Enhancement by Compression project on the Iroquois Gas Transmission Pipeline.
By David Braziel - Thursday, 2/13/2025 (3:00 pm)
India is turning heads in the global LNG market, and if the buzz from India Energy Week 2025 is any indication, the country is gearing up for a natural gas future that could rival some of the world's biggest players.
By Martin King - Thursday, 2/13/2025 (3:00 pm)
Re-exports of Canadian heavy crude oil are estimated to have been 115 Mb/d in January 2025 (rightmost columns in chart below), down a modest 12 Mb/d from December and less than half the rate of one year ago at 235 Mb/d.
By TJ Braziel - Wednesday, 2/12/2025 (3:30 pm)
Report Highlight: Crude Oil Billboard
Gasoline demand surged 250 Mb/d to 8.58 MMb/d last week, the highest level this year, leading to a 3 MMbbl inventory draw, while diesel implied demand plummeted, prompting the first inventory build in weeks. Despite weaker crude prices, crack spreads surged as gasoline prices jumped $5.07/bbl whi
By Christine Groenewold - Wednesday, 2/12/2025 (1:00 pm)
Report Highlight: U.S. Propane Billboard
In today’s EIA report, total U.S. propane/propylene inventories had a withdrawal of 2.6 MMbbl for the week ended February 7 (red bar), which was about 737 Mbbl less than the average draw of 3.3 MMbbl for the week (green bar).
By Martin King - Wednesday, 2/12/2025 (12:45 pm)
Report Highlight: Canadian Natgas Billboard
Canadian natural gas demand reached a record 18.45 Bcf on February 4, 2025 (blue arrow and text in chart below) as colder than average winter temperatures enveloped Canada from coast-to-coast.
By Adam Baker - Tuesday, 2/11/2025 (1:30 pm)
Report Highlight: Crude Voyager
U.S. crude oil exports averaged 3.3 MMb/d last week, down 504 Mb/d from the prior week, as Corpus Christi and Houston-area terminal exports fell by a combined 433 Mb/d. Exports were about 450 Mb/d below the year-to-date average.
By Christine Groenewold - Tuesday, 2/11/2025 (11:45 am)
Report Highlight: Chart Toppers
The frac spread is up slightly this month to about $4.80/MMBtu. This is the highest it has been since October 2024.
By Lisa Shidler - Tuesday, 2/11/2025 (11:15 am)
Report Highlight: LNG Voyager
Twenty-seven LNG cargoes were exported from the U.S. last week, and Europe is still attracting many of these cargoes.
