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NGL Energy Sees Momentum Building in DJ Basin, Permian Delaware

NGL Energy Sees Momentum Building in DJ Basin, Permian Delaware

NGL Energy Partners LP, which transports oil and also treats, recycles and disposes of water generated as part of the energy production process – said it got off to a slow start in calendar 2021 because of Winter Storm Uri and lingering effects of the pandemic. But the Tulsa-based company sees brighter days ahead with…

June 4, 2021
Crescent Point Sees Duvernay Driving Steady Improvement in 2021

Crescent Point Sees Duvernay Driving Steady Improvement in 2021

Crescent Point Energy Corp. regained profitability and emerged as an unconventional natural gas producer during the first three months of this year. The Calgary producer predicted steady improvement for the rest of 2021 would result from the C$900 million ( $720 million) purchase in February of 500 square miles of liquids-rich Duvernay formation acreage from…

May 19, 2021
Enerplus Expects Bakken Production to Grow After Acquisitions

Enerplus Expects Bakken Production to Grow After Acquisitions

Canadian independent Enerplus Corp. reported lower year/year production for the first quarter but it is poised to resume growing output in the Bakken Shale of North Dakota following a pair of recent acquisitions. Natural gas production for the firm, which also has assets in the Marcellus Shale, dropped to 255.7MMcf/d in the first three months…

May 14, 2021
Apache Nabs $4-Plus for Permian Natural Gas, Boosted by Prescient Hedging Strategy

Apache Nabs $4-Plus for Permian Natural Gas, Boosted by Prescient Hedging Strategy

After fetching $4.61/Mcf for its Permian Basin natural gas in the first quarter, APA Corp. is stepping up its activity in some prospects and extending its exploration in Texas, executives said Thursday. The gassy Alpine High development in the Permian Delaware sub-basin of West Texas had been the Houston-based explorer’s No. 1 global play. As…

May 6, 2021
Whitecap Returns to Profitability on Canada Oil, Gas Acquisitions and Higher Prices

Whitecap Returns to Profitability on Canada Oil, Gas Acquisitions and Higher Prices

Improved prices for increased oil, natural gas and liquids volumes, achieved in part on corporate takeovers, fueled a return to profitability by Canadian producer Whitecap Resources Inc. in the first three months of this year. Whitecap oil production volumes grew year/year to 64,795 b/d from 56,631 b/d, with natural gas volumes hitting 129 MMcf/d from…

April 29, 2021
Propane Prices Spike During Winter Heating Season, EIA Says

Propane Prices Spike During Winter Heating Season, EIA Says

A surge in heating demand propelled U.S. propane prices during the 2020-21 winter season, according to a new federal report. Residential propane prices in the United States averaged about $2.30/gal at the close of March, up 43 cents from a year earlier, according to the U.S. Energy Information Administration (EIA). About two-thirds of the natural…

April 8, 2021
With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says

With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says

Natural gas liquids (NGLs), a byproduct of oil and gas production, could benefit from global demand and supply disruptions in 2021, paving a path for rising prices as the year wears on, analysts at Raymond James & Associates Inc. said in a new forecast. “We still think U.S. NGLs have a pretty bullish set-up, similar…

April 5, 2021
Enbridge Asks Canada Government to Defend Line 5 Against Michigan Intervention

Enbridge Asks Canada Government to Defend Line 5 Against Michigan Intervention

Enbridge Inc. has asked the Canadian government for legal and diplomatic help to defend its 540,000 b/d Line 5 pipeline against Michigan attempts to shut it down. Enbridge Vice President Vern Yu disclosed the requests in testimony about the 68-year-old pipeline’s troubles before a House of Commons committee. Line 5 delivers oil and natural gas…

March 17, 2021
Michigan Readying Propane Trains, Storage to Fill Supply Gap Pending Line 5 Shut Down

Michigan Readying Propane Trains, Storage to Fill Supply Gap Pending Line 5 Shut Down

Michigan officials said they would have propane supply security with trains and storage available if Enbridge Inc. shuts down deliveries in May on Line 5, the Canadian oil and natural gas liquids (NGL) system. Line 5 flows 540,000 b/d, including 75,000 b/d of propane for about 55% of Michigan needs, led by two-thirds of requirements…

March 15, 2021
SandRidge Looking for Deals as Midcontinent Activity Shrinks

SandRidge Looking for Deals as Midcontinent Activity Shrinks

SandRidge Energy Inc. carried out zero drilling activity on its assets in the Midcontinent and in Colorado last year, causing production to wither, according to its 2020 annual report. The company’s output fell by nearly 25% in 2020 to 8.7 million boe comprising 24% oil, 45% natural gas and 31% natural gas liquids (NGL). In…

March 8, 2021
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