Louisiana Earns EPA Approval for Control over Carbon-Sequestration Well Permitting

Louisiana became the third state to gain primacy over the permitting of Class VI wells when the Environmental Protection Agency (EPA) signed a final rule December 28 granting it primary responsibility for the permitting, compliance and enforcement for those wells.

Low Northeast Demand, Outflows to Gulf Near Capacity

Dry gas production in the Northeast region averaged 36.1 Bcf/d for the week covering December 27 to January 2, which is nearly identical to the previous week’s figure.

US Rig Count Declines, Begins 2024 20% Below Last Year's Mark

US oil and gas rig count posted a slight decline to open the year, falling by one rig vs. last week to a total of 621 for the week ending January 5, according to Baker Hughes. Rigs were added in the Permian (+2), while the Haynesville (-2) and Niobrara (-1) both lost rigs.

Canadian Propane and Butane Inventories Experience Seasonal Declines in November

Data reported by the Canada Energy Regulator (CER) for Canada’s propane inventories at the end of November place them in the middle of the five-year range.

Christmas Warmth Leads to Low Storage Withdrawal at Year-End

The EIA released its storage report for the last full week of 2023 (the week ended December 29) on Thursday, reporting a miniscule withdrawal of 14 Bcf.

Approval Granted for North River Midstream’s Northeast BC Connector NGLs Pipeline

On December 28, 2023, the Canada Energy Regulator (CER) granted a Certificate of Public Convenience and Necessity for North River Midstream’s Northeast British Columbia (NEBC) Connector NGLs Pipeline (purple dashed line in map below).

U.S. Propane Inventories Draw by 2 MMbbl; Slightly Below Historical Weekly Average

The EIA reported that total U.S. propane/propylene inventories fell by 2 MMbbl for the week ended December 29, which was above average industry expectations for a draw of 1 MMbbl but slightly below the 2.4 MMbbl average decline for the week. Total U.S.

U.S. LNG Production Hits Record High in December

Total U.S. feedgas demand averaged 14.2 Bcf/d in December, up 300 MMcf/d over November levels and a record high. Feedgas intake was strong at every terminal, but particularly at Sabine Pass and Cameron, both of which had record levels of intake last month.

Western Canadian Natural Gas Production Ends 2023 With a Bang

Using data compiled in RBN’s Canadian NatGas Billboard report, Western Canadian natural gas production posted a new record high of 19.11 Bcf on December 24 (red dashed oval in top chart below).

U.S. Crude Oil Exports Surpass Previous Records Amid Geopolitical Shifts

The U.S. has established itself as one of the leading exporters of crude oil in the world in the last few years since the ban on most crude oil exports was lifted in December 2015. By the end of 2018, crude oil shipments from the U.S. Gulf Coast averaged 1.6 MMb/d.

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