Waha cash prices averaged $1.55/MMBtu during the week ended June 22 according to Bloomberg data. This was $2.31/MMBtu higher than the prior week. Prices surged back above zero early last week and then continued to climb throughout the week. Production held steady and new capacity came online from Kinder Morgan’s Gulf Coast Express expansion. The expansion added 0.57 Bcf/d of takeaway capacity and gives the basin some breathing room in the short-term ahead of two new pipelines coming on later this year. Together, the three projects will add over 4.5 Bcf/d of new takeaway capacity for the basin and provide ample room for production to grow. The ramp in Eastbound exit capacity is visible in the dotted line in the chart below.
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Waha Gas Reaches Least Negative Price Since February
Natural gas prices were up week-on-week, but still remain negative. Things may be set to change though, as the Gulf Coast Express expansion is imminent.
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Permian Gas Production Holds Steady Despite More Takeaway
Permian production in the NATGAS Permian report has been revised based on the latest AI-driven intelligence and analytics from Novi Labs.
- Analyst Insight
Waha Natural Gas Prices Up but Still Negative as Maintenance Subsides
Permian outflows to the North picked up last week and slightly improved the price picture. But the gas outlook for the Permian remains bearish for the first half of the year.
