After plumbing multi-year lows in the first half of the month, Waha cash gas prices rebounded significantly last week, even turning positive for three days according to data from Natural Gas Intelligence (NGI). Outright cash prices averaged negative $0.08/MMBtu for the week ended May 20, up $2.73/MMBtu week-on-week. Waha cash prices were above zero from May 15 to May 17, before dipping back below zero heading into the weekend. In trading for flows on May 17, the cash price was positive $0.50/MMBtu, which is the highest average gas price seen since the March 2-4 weekend two and a half months ago.
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- Analyst Insight
Waha Back to Positive as Gas Pipeline Maintenance Winds Down
Waha natural gas prices moved back into positive territory last week as Permian Highway maintenance ended. We expect prices to remain positive this winter, as outbound capacity is at a new high.
- Analyst Insight
Permian Gas Production Rebounds Too Soon?
Production of natural gas bounced back in the Permian last week, but a maintenance event this week may put the crunch on capacity.
- Analyst Insight
Permian Gas Production Strong But Prices Positive
Permian natural gas production is pushing higher, but prices remained in the black over the past week.
