RBN’s Daily Energy Blog and Insights sharpen your energy IQ through fundamentals-based analysis that makes sense of North America’s energy market dynamics.
Natural gas-fired generation is king in the realm of data center development, at least for the near term. Still, hyperscalers are taking a variety of steps to mitigate the climate impact of their expanding gas use. These include adding CCS, building renewables and supporting new nuclear.
Several projects in the works would expand crude oil pipeline takeaway capacity out of Western Canada. But, given the pace of production growth there, will enough takeaway space come online in time to prevent pipeline capacity shortages and the price dislocations that come with them?
The LNG Voyager weekly report provides subscribers with weekly updates of data, analysis and market intelligence on factors affecting feedgas and LNG export volumes, prices and infrastructure, including liquefaction and pipeline projects and capacity contracts.
The week's most significant fundamental development may not have been the rally in crude prices itself, but the continued expansion in refinery margins.
The frac spread edged lower in July but remains about 20% above year-ago levels, with propane and natural gasoline continuing to provide the largest contributions.
Natural gas prices in the Permian spent the first half of the year in the red. Then, in mid-June, Kinder Morgan flipped a switch and now Waha prices are back above zero. The “switch” was a compression expansion on Gulf Coast Express, which added a desperately needed 570 MMcf/d of takeaway capacity.
Gas outflows from the Permian to the East declined week-on-week despite rumors of a Hugh Brinson start.
The ethane ratio-to-natural gas has been on a wild ride during 2026. In late January when the price of natural gas soared in response to Winter Storm Fern, the ethane-to-gas ratio was crushed to the lowest level in at least 20 years.
NATGAS Permian is a weekly natural gas fundamentals analysis focusing entirely on the key market drivers within the Permian basin. The report contains details and forecasts around natural gas production, demand, pricing, and a summary of pipeline outflows and capacities from the Permian to neighboring regions.
Over the past 18 months, Gulf Coast dock capacity capable of handling either LPG or ethane has grown significantly. It’s something relatively new called “flex capacity,” and it’s a darned good thing it’s online. Without it, both LPG and ethane export capacity would already be maxed out.
U.S. oil and gas rig count gained seven rigs to 588 for the week ending July 17 according to Baker Hughes data, as Permian (+3), Anadarko (+2) and All Other (+2) all posted gains while all other basins held steady.
In Western Canada, the gas-directed rig count rose by 2 to 59 rigs, while the oil-directed rig count gained 20 to 136 rigs, for the week ended July 17, according to Baker Hughes data.
