Canadian Drilling – Gas Rigs Going Sideways, Oil Rigs Reach Near Seven-Year High

For the week ending January 24, Baker Hughes reported that the Western Canadian gas-directed rig count fell two to 71 (blue line and text in left hand chart below), 15 less than one year ago, but still at its highest level since April.

White House Clarifies Trump Order Restricting IRA, IIJA Funds

An executive order issued Monday by President Trump (see Brand New Day) that directs federal agencies to pause the distribution of funds from 2021’s Infrastructure Inve

Canadian Crude Imports at Monthly High Ahead of Potential Tariffs

Total U.S. crude imports rose by 620 Mb/d to 6.75 MMb/d, with increases in every region except PADD 5, where volumes decreased by 100 Mb/d. PADD 2 saw an increase of 330 Mb/d to 3.1 MMb/d, enhancing the flow of Canadian supplies into the U.S.

Appalachian Cash Gas Prices Lifted By Cold Snap Over Holiday Weekend

Weather in the Northeast became much colder as a polar vortex brought a blast of icy weather on Monday and Tuesday, and cash prices in the region reacted strongly. The Northeast’s supply-demand balance was 1.4 Bcf/d tighter for the week ended January 21 compared with the week prior.

Kinder Morgan's Trident Pipeline Spears FID

Kinder Morgan (KMI) is moving forward with the Trident Intrastate Pipeline, a $1.7 billion project designed to deliver up to 1.5 Bcf/d of natural gas from Katy, TX, just west of Houston,

U.S. Propane Inventories Show Below Average Draw

The EIA reported total U.S.

Canadian LPG Stocks - Propane Stocks in Seasonal Range, Western Butane Stocks Still Very Tight

Data reported by the Canada Energy Regulator (CER) for Western Canada’s propane inventories at the end of December (red line in left hand chart below) were posted at 4.7 MMbbl, with a seasonal average decline of 1.1 MMbbl versus November and stand 0.5 MMbbl (-10%) below the five-year average (blu

Price Discount for Canadian Heavy Crude Oil Whipsawed as Tariff Threat Waxes and Wanes

The forward price discount for Canadian heavy crude oil has been whipsawed in recent days as the threat of a 25% tariff on all exports from Canada by the newly minted Trump administration has waxed and waned.

Rules of the Road: Will Clarity on Hydrogen Tax Credit Clear a Path for Growth?

New Drill Down Report on Hydrogen Tax Credit
U.S. clean hydrogen demand expected to rise sharply by 2050
Final rulemaking for 45V tax credit includes key concessions to industry
Click here for all the details and a preview of the report

U.S. Crude Exports Rocket Up as Prices React to Global Supply Concerns

U.S. crude oil exports averaged 4.6 MMb/d last week, rocketing up by 1.8 MMb/d from the prior week to the highest weekly rate since mid-November. The four-week moving average is now 3.8 MMb/d, up about 90 Mb/d from the previous week.

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