February 19, 2021 – Natural Gas Intelligence
Historic Freeze Fuels Monstrous Weekly Natural Gas Price Rally, Leaves Texas Out in the Cold
By Leticia Gonzales
…The hefty premiums were a reflection of the myriad of pipeline issues that ensued as the bitter cold descended into the state. In addition to operational flow orders, forces majeure and other issues, pipelines in West Texas also contended with wellhead freeze-offs. RBN Energy LLC reported that Permian Basin associated gas bottomed out at around 3 Bcf/d but by Friday, output was back at above 5.5 Bcf/d. Earlier this month, it was around 11.5 Bcf/d.
Total Lower 48 production levels, meanwhile, fell below 70 Bcf during the week, the first time production has dropped below that level since January 2017, according to Wood Mackenzie.
But the crisis in Texas extended far beyond natural gas.…
Read the full article here: https://www.naturalgasintel.com/historic-freeze-fuels-monstrous-natural-gas-price-rally-leaves-texas-left-out-in-cold/
