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.
West Texas Intermediate crude oil prices experienced another uptick the first week of March.
Ethane markets are improving, but butane is still most preferred feedstock.
Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest.
The recent Siberian blast sent natural gas prices surging upward at Transco and Algonquin Citygate hubs, but overall prices were relatively flat.
Magnum Development owns and operates a natural gas liquids storage facility near Salt Lake City.
The transaction is scheduled to close in March.
Though ethane margins turned negative, the theoretical NGL barrel price reached its highest level of the year.
The transactions will complement the company’s Cotton Valley, Haynesville and Bossier assets.
For the first time in 2015, C5+ prices pushed past the $1/gal threshold.