Permian gas production edged lower last week, weighed down by El Paso maintenance and outages at the Puckett Compressor Station in Pecos, Texas. The compressor station was offline most of last week after an equipment failure on May 22. Full operations at the compressor station resumed on June 1, but the compressor station will be offline again from June 3 through 5, according to the pipeline’s posted maintenance. Waha cash prices started the week below zero but rebounded strongly after Permian Highway returned to full service on May 27. Prices were above $1.50/MMBtu for most of the week according to data from Natural Gas Intelligence (NGI).
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- Analyst Insight
Permian Gas Outflows Increase as Flows to Mexico Remain High
Flows from the Permian Basin to Mexico have been strong this June and may set a new monthly record.
- Analyst Insight
Permian Gas Outflows Constrained as Cash Prices Languish
Prices remain negative for gas in the Permian basin, as outflows from the region are constrained, particularly on El Paso.
- Analyst Insight
High Supply During Spring Maintenance Keeps Waha Natural Gas Prices in the Basement
Natural gas supply in the Permian Basin is significantly higher than last year, despite a dip this week. With high supply and maintenance on some pipelines, cash prices were below zero for most of the week.
