NGL prices experienced a rebound as WTI crude prices moved up on the back of several fundamental changes.
With the recent start-up of the latest LPG export facility, Mariner South, the U.S. Gulf Coast has the infrastructure to support LPG exports of around 20 million barrels per month, most of which is propane.
Vanguard buys LRR Energy’s Permian and Arkoma assets, including 1,290 gross producing wells and about 158,000 net acres. LRR’s proved reserves were about 203 Bcfe in December 2014.
Shifts in U.S. LPG supply and demand patterns are having wide repercussions on global trade dynamics.
Despite WTI crude hitting its high price for 2015, NGL prices were largely flat as storage overhangs continue to negatively impact the industry.
NGL demand was down this week as the Houston Ship Channel reopened and traders were no longer scrambling for extra volumes to meet end-of-month fulfillments.
The switch to summer-grade gasoline had a positive impact on heavy NGL prices despite flat WTI crude prices.
Mexico’s commitment to realizing its energy potential through privatization and its National Infrastructure Program means major expansion, and investment, is ahead for the country’s midstream infrastructure.
Michael A. Creel will retire at the end of the year as CEO of Enterprise Products Partners LP’s general partner. A.J. (Jim) Teague was elected to replace him.
It is becoming clear that 2015 will be a “lost year” for crude oil, natural gas and NGL prices, but the hope is that it will be a minor blip.
West Texas Intermediate crude prices took another downturn the week of March 11 as storage at the Cushing, Okla., hub is quickly filling up.
The arrival of spring temperatures is causing natural gas and NGL prices to fall as heating and blending demand decrease and uncertainty remains over crude prices.