Led By Declines In Niobrara, US Rig Count Declines For The Ninth Consecutive Week

US oil and gas rig count continued its multi-month slide, with total rig count falling by seven rigs to 547 for the week ending June 27 according to Baker Hughes data. Rigs declined in the Niobrara (-3), Permian (-1), Anadarko (-1) and All Other (-2), while no basins reported gains.

Canadian Drilling – Rig Counts Remain Stuck in Neutral

For the week of June 27, Baker Hughes reported that the Western Canadian gas-directed rig count was unchanged at 46 (blue line and text in left hand chart below) and 13 less than one year ago.

Texas Moves Closer to Gaining Primacy Over Class VI Wells

Texas moved a step closer to controlling the permitting process for the wells used in carbon capture and sequestration (CCS) when the Environmental Protection Agency (EPA) issued a proposal in June to give the state primacy over its Class VI wells.

Northeast Gas Demand Rises In Hot Summer Start

Power-sector natural gas demand rocketed upward last week as the summer began in earnest. Extremely hot weather was felt throughout the Eastern U.S., causing Northeast gas-for-power demand to hit 13.8 Bcf/d on Sunday, the highest daily demand total since August 2024.

Propane Inventories Climb While Exports Dip

The EIA reported that total U.S. propane/propylene inventories had a build of 5.1 MMbbl for the week ended June 20, the largest increase for the 25^th week of the year since reporting for the full country began in 2004.

Alberta Gas Power Burn Trending to New Record for June

Alberta’s natural gas use for power generation (“power burn”) has averaged 1.73 Bcf/d so far in June 2025 (red column and text in chart below), a slight gain on the 1.72 Bcf/d average of June 2024, and on track for a record for the month according to data published in RBN’s

Parkland Corp. Shareholders Approve Sunoco Deal

Parkland Corp. shareholders on Tuesday voted in favor of a US$9.1-billion agreement to be acquired by U.S.-based Sunoco.

Bakken Patoka Crude Diffential Hits One-Year High

In recent weeks, the price differential for Bakken Patoka crude (light sweet crude that is produced in the Bakken Formation in North Dakota and shipped to Patoka, Illinois via the Dakota Access Pipeline ) has strengthened to its highest premium in almost one year (dark blue line in graph below) a

U.S. LNG Feedgas Drops But Likely to Rise This Week

U.S. LNG feedgas demand edged lower last week due to a brief unplanned outage at Freeport and slightly lower intake at other terminals. However, feedgas is likely to soar back towards 15 Bcf/d this week as it appears Sabine Pass is restarting after maintenance.

U.S. Gulf Coast 3-2-1 Crack Spread - Chart Toppers

The U.S. Gulf Coast 3-2-1 crack spread is currently around $23.67/bbl. The diesel crack led the charge, surging from around $20.95/bbl on June 12 to $28.55/bbl before easing slightly to $27.59/bbl on June 23.

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