Combination of the Two: Midstream M&A Ramps Up, and More Is Likely on the Way

New Drill Down Report for Backstage Pass Subscribers on Midstream M&A Activity
Midstreamers joining forces can enable a broader range of services — and more destination optionality
The Permian Basin is at the center of many deals, but the Eagle Ford and other areas also included

Alberta Crude Oil Sets Monthly and Annual Production Records

Alberta’s crude oil output in December 2024 reached a record high for any month at 4.26 MMb/d (pink dashed rectangle in chart below), pulling out ahead of the previous record holder set one year ago at 4.19 MMb/d (black dashed rectangle).

Permian Natural Gas Outflows Retreat but are Poised to Hit New Highs in Coming Months

Outflows of natural gas from the Permian Basin were down slightly for the week ending February 10 compared to the week prior. Lower outflows to the West offset higher outflows to the other corridors.

Ontario’s January Gas Storage Withdrawals Second Largest on Record

Natural gas storage withdrawals in Canada’s most populous province of Ontario reached their second largest amount on record in January 2025 at 102 Bcf (red column in chart below) according to RBN’s Canadian NatGas Billboar

Ethylene Behaves Itself – Price of the Petrochemical Intermediate Back Inline With Ethane and Gas

About 80 % of ethylene in the U.S. is produced from ethane feedstock, so theoretically the price of ethylene should vary with ethane. And ethane, which has two markets – liquid petchem feedstock or rejected into natural gas should see its price vary with the price of natural gas.

Mars Crude Price Differential Recovers on Tariff Uncertainty and Supply Tightness

In the past two weeks, the price differential for Mars sour crude oil that is delivered from Gulf Coast offshore producing platforms via the Mars pipeline to Clovelly, LA has surged above $1.00/bbl and reached as high as $2.00/bbl on February 3^rd (green dashed oval in chart below).

Parallel Pipelines in Mississippi are a Response to Future Feedgas Demand

As Plaquemines LNG ramps up production of LNG and Golden Pass and Port Arthur LNG inch closer to operation, Louisiana and East Texas are preparing to hit new records for natural gas demand in the coming years.

Canadian Drilling – Gas Rigs Hold Steady While Oil Rigs Ease Back

For the week ending February 7, Baker Hughes reported that the Western Canadian gas-directed rig count was unchanged at 72 (blue line and text in left hand chart below), 19 less than one year ago and holding at the bottom of the five-year range.

US Rig Count Climbs On Small Gains In Multiple Basins

US oil and gas rig count increased for the second consecutive week, adding four rigs vs. a week ago and climbing to 586 for the week ending February 7 according to Baker Hughes data.

Summit Carbon Solutions, Infinium Reach CO2 Offtake Agreement for Proposed E-Fuels Plant

Summit Carbon Solutions will supply up to 670,000 MT/year of carbon dioxide (CO₂) to electrofuels (e-fuels) producer Infinium for a proposed facility in North Dakota or South Dakota, the companies announced February 5.

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