NGL prices went through their roughest patch since 2008, but questions still remain over whether the market’s recovery has begun or not.
The release of floating oil volumes will introduce additional supply into an already saturated market and exacerbate the number of unsold Mediterranean, North Sea and West African cargoes in the Atlantic Basin.
Multiple political and military trends, along with the rise in U.S. crude oil and natural gas production, are occurring at the same time. And that makes for an uneasy situation, Tom Petrie says.
The company plans on selling the Eureka Hunter Pipeline to pay down debt and fund its drilling operations.
The partnership could serve as a launching point for continued growth in the region, analyst says.
Only a portion of the Utica and Marcellus pipeline was up for sale, but a premium bid worth hundreds of millions changed CEO Gary Evans’ thinking.
Crude prices remained flat at $60/bbl, while NGL prices continue to sag. This decoupling is expected to return as the norm going forward.
Energy XXI will receive $245 million in cash for about 150 miles of pipeline from CorEnergy Infrastructure Trust but as part of the deal will lease and operate the pipeline.
The Energy Transfer Equity offer to acquire Williams could complicate the company’s plan to absorb its MLP, Williams Partners, and strain the partnership’s unit prices, an analyst said.
BNSF executive chairman says his company is ready to transport a potential rebound in oil production.
Bentek analyst provides a survey of the current LNG markets.
Looking to future exports of natural gas and NGL for an answer to price woes may lead to disappointment, an analyst says.