Ethane Ratio to Natural Gas Crashes to 0.92X, Signaling Rejection

For the first time this year, the ratio of ethane to natural gas has crashed below 0.95X, signaling the prospects for ethane rejection in many parts of the country.

Canadian Drilling – Springtime Blues: Rig Counts Still Not Ticking Higher

For the week of May 30, Baker Hughes reported that the Western Canadian gas-directed rig count remained unchanged at 43 (blue line and text in left hand chart below), 11 less than one year ago and at its lowest point this year.

US Rig Count Falls For Fifth Consecutive Week, Dropping to 563

US oil and gas rig count declined for the fifth consecutive week, dropping to 563 for the week ending May 30 according to Baker Hughes data. The Permian (-1), Anadarko (-1) and Appalachia (-1) all lost rigs, while no basins reported gains.

Weekly U.S. Crude Oil Exports Up, with India in the Spotlight

Crude oil exports out of the U.S. Gulf Coast (USGC) rose for the second consecutive week, increasing by 236 Mb/d from the previous week.

Batteries Now Meeting 20% of California Evening Power Demand

The California Independent System Operator (CAISO) power grid has increasingly relied on renewable sources of generation over the last four years, aided in part by the rapid expansion of battery storage, which now regularly accounts for more than 20% of generating capacity during evening hours.

Appalachian Natural Gas Production Climbs While Northeast Demand Stagnates

While demand for natural gas was unchanged for the week ended May 27 relative to the prior week, gas production in Appalachia surged, averaging 36.8 Bcf/d. Gas supply was especially high on Friday, when it reached a record for daily production at 37.1 Bcf/d.

U.S. Propane/Propylene Production Reaches Record High

According to the EIA, total U.S. propane/propylene production increased by 21 Mb/d week-on-week to 2.85 MMb/d, thereby achieving an unprecedented high—underscoring the strength of supply fundamentals and signaling continued momentum as the market enters the summer season.

Do You Realize? U.S. Propane Market Requires a Delicate Balancing Act

New Drill Down Report for Backstage Pass Subscribers on Propane Markets
Propane Wholesalers, Retailers, Seasonal Demand, and Production
Click here for all the details and a preview of the report

U.S. Monthly Natural Gasoline to Crude Ratio - Chart Toppers

The monthly natural gasoline price for May 2025 currently stands at 90% of NYMEX crude.

LNG Canada's Gas Production Near Steady in April With First Export Coming into Focus

Combined natural gas production of the equity partners in LNG Canada was estimated to be 2.13 Bcf/d in April 2025 (combined height of the rightmost colored bars in chart below), a small pullback from 2.24 Bcf/d estimated for March, and 0.11 Bcf/d higher than one year ago.

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