Spot Henry Hub Hit Historic Low Prices in 2024

In 2024, the U.S.

Higher U.S. Propane Prices Driven by Cold Weather and Inventories Draw Below Expectations

Due to cold weather throughout the country, propane prices increased during the past week, settling at 86 c/gal on January 7. Mont Belvieu (non-TET) propane prices increased by 5 c/gal, or 7% and Conway propane prices increased by 9 c/gal or 12%.

Plains Boosts Midstream Infrastructure with Bolt-On Acquisitions

Plains All American Pipeline has entered into three separate bolt-on acquisitions for an aggregate cash consideration of approximately $670 million. These acquisitions further bolster Plains' crude oil infrastructure footprint in the Permian, Eagle Ford and Midcontinent.

Permian-to-Houston Crude Oil Flows Continued Rebound in August

Permian Basin crude oil flows to Houston extended their recovery in August 2024, according to the latest monthly data from the Texas Railroad Commission, rebounding from the sharp decline in June — the lowest volume since September 2023 (see blue line in chart below).

NGLs Start the New Year With a Bang – Price 44% of Crude Oil, Highest Since 2022

The ratio of NGL prices to crude oil started the year at the highest level since September 2022, as shown in the right graph below, green dashed oval. This NGL-to-crude metric is the average per barrel price of a basket of Mont Belvieu NGLs divided by the price of Cushing NYMEX domestic sweet (WT

Rig Count Begins 2025 At 589, Unchanged From Last Week

US oil and gas rig count begins 2025 at 589 rigs, down 32 from the opening week of 2024. Rig count was unchanged from the prior week, marking a streak of four consecutive weeks with no change.

Canadian Drilling – Rig Counts Hold at the Holiday Lows

For the week ending January 3, Baker Hughes reported that the Western Canadian gas-directed rig count fell one to 50 (blue circle in left hand chart below), 17 less than one year ago and its lowest level since early June 2023.

Company eyes Constructing an East-West Pipeline in North Dakota

WBI Energy is considering developing a new pipeline that would take natural gas from the Bakken to the east in North Dakota.

Oil Executives See Spending on the Rise in 2025: Dallas Fed Survey

Most oil and gas executives expect their firm’s capital spending to rise in 2025 compared with 2024, although larger firms are more likely to anticipate a decrease, according to the latest Dallas Fed Energy Survey, which was published January 2.

U.S. Propane Stocks Draw Significantly Below Expectations and Exports Rise

The EIA reported total U.S. propane/propylene inventories had a withdrawal of 552 Mbbl for the week ended December 27, which was below industry expectations for a decrease of 3.23 MMbbl and below the average draw for the week of 2.3 MMbbl. Total U.S.

Website Upgrades