Spire Inc. has agreed to acquire MoGas and Omega pipeline systems from CorEnergy Infrastructure Trust Inc. for about $175 million in cash.

As shown on the left-hand chart below, monthly propane gas plant production for March 2023 finally recovered from the weather-related curtailments in December.

The Crude Voyager report shows that after several weeks of subdued activity, crude oil exports across the U.S. Gulf Coast rose by 1.3 MMb/d to 4.3 MMb/d for the week ended May 26 — the highest weekly volume in five weeks. All key export regions loaded more cargoes than in the previous week.

Saudi Aramco reduced its June LPG Contract Price (CP) for propane on May 30 to $450/MT (86.4 c/gal), down $105/MT (20.1 c/gal) from the May CP.

May was a tough month for US oil and gas rig count, with producers ending the month with a fourth consecutive weekly decline (-44 vs April 28).  Total US rig count was 711 for the week ending May 26, according to Baker Hughes.