Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…
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Permian Natural Gas Flows Reach Record Level, Curb Prices Amid Key Infrastructure Expansions
Surging production and new takeaway capacity paved a path for record-high natural gas supplies flowing from the prolific Permian Basin. A 550 MMcf/d expansion of Kinder Morgan Inc.’s (KMI) Permian Highway Pipeline (PHP) entered service at the start of this month and amplified Whistler Pipeline LLC’s recently completed 500 MMcf/d expansion in the Permian. “Permian…
December 12, 2023
New Mexico Oil, Natural Gas Taxes Bring Record Revenue, but Pipe Constraints Seen Hindering Growth
Record natural gas production and strong oil output in the New Mexico portion of the Permian Basin played a primary role in boosting expectations for revenue in the years to come, according to the state’s Legislative Finance Committee (LFC). In fiscal year (FY) 2023, which ended June 30, the state produced 2.95 Tcf of natural…
August 30, 2023
As Permian Natural Gas Moves East, Blackfin Looking to Debottleneck Katy, HSC Hubs
A proposed Texas intrastate extension of the Matterhorn Express Pipeline could help preserve stronger pricing at the Katy and Houston Ship Channel (HSC) benchmarks as more natural gas volumes flow from the Permian Basin, according to analysts. Recent filings with the Railroad Commission of Texas outlined plans for the 193-mile Blackfin Pipeline, which would stretch…
April 10, 2023
Blackfin Looking to Debottleneck Katy Hub as More Permian Natural Gas Flows East
A proposed Texas intrastate extension of the Matterhorn Express Pipeline could help preserve stronger pricing at the Katy and Houston Ship Channel benchmarks as more natural gas volumes flow from the Permian Basin, according to analysts. Recent filings with the Railroad Commission of Texas outlined plans for the 193-mile Blackfin Pipeline, which would stretch from…
April 5, 2023
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