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U.S. Rig Count Up Two to 553: Offshore Gains Lead Additions
U.S. oil and gas rig count gained two rigs to 553 for the week ending March 13 according to Baker Hughes data, as gains in Gulf of Mexico (+2), Haynesville (+1), Niobrara (+1) and All Other (+1) outpaced declines in the Eagle Ford (-1), Bakken (-1) and …
North Dakota Judge Voids CO2 Storage Permit for Summit Carbon Solutions Project
The prospects for Summit Carbon Solutions’ long-planned carbon capture and sequestration (CCS) project dimmed this week when a North Dakota judge revoked Summit’s permit to permanently sequester carbon dioxide (CO2) in underground storage. The CO2 storage …
Two Sides of the Coin – U.S. E&Ps Increasingly See LNG as Way to Get a Piece of the Arbitrage Pie
Ever since U.S. LNG exports commenced in 2016 from Cheniere’s Sabine Pass facility, upstream gas producers have carefully followed price differentials between Henry Hub and the prices at which LNG can be sold in other markets, notably Asia and Europe. …
Trump Administration Considers 30-Day Waiver of Jones Act
The White House is considering a 30-day waiver of the Jones Act that would allow foreign tankers to move goods between U.S. ports in a bid to ease gasoline prices. White House press secretary Karoline Leavitt said in a statement Thursday that the …
Where She Goes – How Gulf Coast Refiners and Their Partners Move Refined Products to Mexico
Despite ongoing efforts by Mexico’s government and state-owned Pemex to boost domestic production of gasoline, diesel and jet fuel, the Mexican market still depends on imports from the U.S. for just over half of its refined product needs. And moving …
Crude Cushion: IEA Announces Record 400 MMbbl Release as Hormuz Flows Remain Blocked
Earlier today (Wednesday, March 11), the International Energy Agency (IEA) announced that its 32 member countries had unanimously agreed to release up to 400 MMbbl from their emergency reserves to the market to help ease supply disruptions tied to the war …
PADD 1 Propane Supply Remains Tight as U.S. Inventories Draw and Exports Rise
The EIA reported a 1.7 MMbbl draw in U.S. propane/propylene inventories for the week ended March 6, exceeding industry expectations for a 1.3 MMbbl decline. Total stocks now stand at 71.7 MMbbl, which is 26.4 MMbbl (58%) higher than the same week in 2025 …
Growing Sideways – E15 Plays Role in Summer Gasoline Debate, But Does Little to Boost Ethanol Demand
There’s no shortage of debate around ethanol and gasoline with the summer driving season just around the corner. Farm and biofuels groups are pushing hard for policies favoring expanded ethanol use, while refiners are lobbying for changes to improve the …
Golden Pass Nears First LNG Cargo
Golden Pass LNG is nearing startup, with Train 1 expected to produce its first LNG cargo by late March, adding new capacity to the U.S. LNG system. Golden Pass has taken significant feedgas volumes since Feb. 17, when intake jumped from around 30 MMcf/d …
Frac Spreads Strengthen in March
Frac spreads strengthened in March 2026, averaging $4.09/MMBtu so far—up 37% from February and 10% above the $3.70/MMBtu recorded in March 2025. Propane remains the largest contributor at $1.46/MMBtu, with natural gasoline next at $1.29/MMBtu. Propane is …
Turn Me Loose – How Canadian Crude Oil Export Capacity Has Struggled to Keep Up With Production
Canadian crude oil production has nearly doubled over the past decade, with nearly all of those gains coming from the Western Canadian Sedimentary Basin (WCSB). With those volumes continuing to grow, producers, pipeline companies and politicians are …
U.S. LPG Terminaling Rates Soar
Gulf Coast LPG terminaling fees have spiked to 30 c/gal, a level not seen since late 2024, and a direct consequence of the Iran war. For most of the past five years, Gulf Coast spot LPG terminaling fees meandered well below their long-run average of …
With a Little Help From My Friends – For the U.S. Refining Sector, ‘Energy Dominance’ Doesn’t Mean Going it Alone
A major theme under the second Trump administration has been the concept of “energy dominance,” with a focus on expanded drilling, increased oil and gas production, and an easier path to project permitting and approvals, especially for LNG exports. …
Geopolitical Risk Premium Drives Surge in Crude Prices To Above $90/bbl
The start of March brought extraordinary volatility to crude markets. Multiple global benchmarks and regional grades posted sharp gains, with several trading at or near multi-year highs. As tensions in the Middle East escalated, markets began embedding a …
U.S. Rig Count Up One to 551; Eagle Ford Leads Gains as Gas Rigs Retreat from Recent Highs
U.S. oil and gas rig count edged up one rig to 551 for the week ending March 6 according to Baker Hughes data, as gains in the Eagle Ford (+3), Permian (+1) and Gulf of Mexico (+1) more than offset declines in Appalachia (-1), the Bakken (-1), Haynesville …
Stratos DAC Project on Target for Q2 2026 Startup
Phase 1 of the Stratos direct air capture (DAC) project in Ector County in West Texas is in the final stages of startup and is expected to be online in Q2 2026, project developer 1PointFive said in an update posted on LinkedIn. The project’s Phase 2 will …
Save Room – Existing and Planned Natural Gas Storage Facilities in East Texas and West Louisiana
“Location, location, location” doesn’t just apply to residential and commercial real estate. It also holds true for natural gas storage, which is in high-and-rising demand along the Texas/Louisiana border, where a slew of new LNG export capacity is coming …
Q4 2025 Earnings Calls: Tourmaline Oil - Montney Outperformance Plus LNG & Data Centers To Tighten Gas Markets
Tourmaline Oil Corp.'s (TRMLF) 2025 fourth quarter earnings call took place on March 5, 2026, and provided several insights into operational trends and the supply and demand balance in the Western Canadian gas market. While regional prices remain weak, …
Born To Be Wild – U.S. Propane’s Wild Journey from Lab Discovery to Vital Consumer Fuel
Today, U.S. propane is a $75 billion-a-year business involving a maze of natural gas processing plants and salt caverns connected to pipelines, fractionators, rail facilities, truck racks, retail tanks and export docks. But like many vital energy …
Surprise Propane Build Driven by PADD 3 as Exports Fall
The EIA reported total U.S. propane/propylene inventories increased by 819 Mbbl for the week ended February 27, a sharp contrast to industry expectations for a 1.3 MMbbl draw and the average draw of 1.9 MMbbl for the week. The build — largely driven by …
