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What Is The Deal With Crude Production?
According to the Weekly Petroleum Status Report, U.S. production has been rangebound from 11.8 MMb/d to 12.3 MMb/d for nearly a year now (green line). While we do see some upward trajectory, particularly in the monthly statistics the growth is still …
Robust Propane Exports Drive Big Inventory Draws
Exports of propane reported by the EIA on March 29 remained robust at 1.80 MMbbl/d for the week ending March 24. Weekly export volumes were strong for the third consecutive week and were well above the four-week average of 1.68 MMbbl/d. 2023 year-to-date …
Houston Area Terminals Load Record Crude in March
Crude oil shipments from the Houston region have averaged more than 1 MMb/d since the beginning of March, illustrating the region’s steep progression as it loads record volumes. In February, the region loaded an average 825 Mb/d of crude for export, and …
Downhill Lullaby - E&Ps Reap Record 2022 Profits, But Eroding Q4 Returns Harken a Less Idyllic 2023
Last August, we titled our review of Q2 2022 E&P financial results Camelot after rising oil prices and surging natural gas realizations drove revenues, profits and cash flows to levels that seemed like an unrealizable dream for producers that had teetered …
Gas-Weighted E&Ps' 2022 4Q Results
(Note: Each column is sortable by clicking once or twice on the column title. For example, clicking on "Revenue" will rank the companies either low-to-high or high-to-low.) 4th Quarter 2022 ($in Millions) Company Ticker Revenue Lifting Costs Production …
Diversified E&Ps' 2022 4Q Results
(Note: Each column is sortable by clicking once or twice on the column title. For example, clicking on "Revenue" will rank the companies either low-to-high or high-to-low.) 4th Quarter 2022 ($in Millions) Company Ticker Revenue Lifting Costs Production …
Oil-Weighted E&Ps' 2022 4Q Results
(Note: Each column is sortable by clicking once or twice on the column title. For example, clicking on "Revenue" will rank the companies either low-to-high or high-to-low.) 4th Quarter 2022 ($in Millions) Company Ticker Revenue Lifting Costs Production …
Normal Butane Steam Cracker Margins Soar
U.S. steam cracker margins for normal butane feedstock have soared over the past month moving from the least economical to most economical feedstock. As shown on the chart below, butane cracking margins have increased from a negative 12 c/lb in late …
Winter Peak Operations for US LNG Ends as Freeport Restarts
Overall feedgaslast week averaged 12.12 Bcf/d, down 610 MMcf/d week-on-week. Higher flows to Freeport during the restart were offset by lower flows to Calcasieu Pass, Sabine Pass, and Cameron. The average weekly feedgas to Sabine Pass was down 400 MMcf/d …
Energy Transfer Expands Footprint with Lotus Midstream Aquisition
Energy Transfer Lp said on Monday (3/27) that it would acquire Sugarland, TX-based pipeline operator Lotus Midstream in a $1.45 billion cash-and-stock deal to boost its pipeline portfolio in the U.S. Permian basin. Energy Transfer said it will pay $900 …
Four-Week Average Puts U.S. Crude Oil Exports Up Nearly 60% From a Year Ago
U.S. crude oil exports have been on a steady rise since Russia’s invasion of Ukraine in February 2022 upended the global energy market and sent buyers in Europe and elsewhere scrambling for barrels. While the weekly volumes have a lot of week-to-week …
Don't Pass Me By - Plans for Energy Development Largely Rest on Fate of U.S. Permitting Reform
If you follow developments in the energy industry, you know that news about permitting for major infrastructure projects can sometimes read more like a horror story: 14 years to build an electric transmission line, a decade to get a mining permit, and the …
Strange but True – Increase in Crude Differentials Tied to Trajectory of Crude Inventories
From early January 2023 to mid-February, all sweet crude differentials versus NYMEX domestic sweet (NYMEX DS) increased significantly. As shown in the graphic below, the Houston benchmark Magellan East Houston (MEH) moved up from about $0.50/bbl to …
Price Tag - European Commission Seeks to Add Transparency to LNG Market, Prevent Price Spikes
From its origins as a specialized energy source sold under long-term, point-to-point contracts to primarily Asian destinations, LNG has become progressively more commodified as its global reach has spread, with 44 countries now importing it. An increasing …
Lower 48 NatGas Storage Surplus Contracts for First Time in 11 Weeks
The Lower 48 natural gas storage surplus vs. last year contracted for the first time in 11 weeks. The EIA yesterday reported an above-average withdrawal of (72)-Bcf for the week ended March 17, decreasing the U.S. working gas inventory to 1,900 Bcf. The …
Trading in the USA - Pulling Back the Curtain on North America's Crude Oil Trading Market
Trading in the highly integrated US/Canadian crude oil market is undergoing a profound transformation, driven mostly by the pull of exports off the Gulf Coast. But the shifts in flows, values and even the trade structures being used today are not well …
Exxon's Beaumont Expansion Ramping Up, Boosting PADD 3 Input
Net refinery input was down a mere 20 Mb/d, at 15.4 MMb/d last week. Gross refinery input was up by 60 Mb/d to 16 MMb/d, which brought capacity utilization up by 0.3 percentage point to 88.6%. PADD 2 input was down 150 Mb/d and PADD 1 was down 100 Mb/d. …
21 Bcf/d of LNG Exports from TX & LA in 4 Years
With Sempra's Port Arthur LNG and Venture Global's Plaquemines P2 achieving Final Investment Decisions (FID) in the last two weeks, the outlook for Texas and Louisiana natural gas needed to feed all of the existing and planned terminals ratcheted up to …
US Rig Count Climbs to 758, Up Four vs. Week Ago
US oil and gas rig count grew to 758 for the week ending 3/24 according to Baker Hughes, an increase of four vs. last week's numbers. Rigs were added in the Permian (+3), Niobrara (+1) and Gulf of Mexico (+1), while All Other basins posted a slight …
Hydrogen Update
We’ve updated our green hydrogen project list this week to include HIF Global’s potential facility on the Texas Gulf Coast. Located just southwest of Houston, the HIF Matagorda eFuels Facility will use green hydrogen and captured CO2 to produce low-carbon …
