Record Waha Gas Price Crash as Outbound Flows Constrained

As force majeure events at Roswell, NM and in Texas have been resolved, Waha natural gas prices have rebounded significantly week-on-week.

Natural gas prices in the Permian remained extremely low over the past week, as issues stemming from apparent low takeaway on Permian Highway were exacerbated by a smaller outage on NGPL.

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.