Articles tagged Waha

Baseload natural gas prices declined on the first day of September bidweek trading on Monday, led lower by prices in West Texas sinking below zero.

Permian Basin benchmark Waha cash prices, mired in a protracted slump amid limited natural gas takeaway capacity and a supply glut, may see the summer come and go without relief. But a massive new pipeline is slated to enter service this fall, promising to free up an abundance of associated gas and ease pricing pressure.

Private equity-backed Brazos Midstream is planning to add 500 MMcf/d of cryogenic natural gas processing capacity and 175 miles of gas gathering pipelines in the Permian Basin’s Midland sub-basin by the end of next year, management said.

Natural gas futures accelerated declines through midday trading Friday, undercut by weakness in physical cash markets and forecasts for milder weather next week.

Diamondback Energy Inc. is aiming to capture more value from the immense volumes of associated natural gas it produces as a byproduct of oil extraction in the Permian Basin, according to management.

Natural gas futures rallied after a rare summer storage draw but then lost steam Thursday, possibly from profit taking as traders took a cue from cash markets still under the spell of oversupply.

Natural gas futures rallied after a government report showed a remarkable August decrease in storage. Analysts interpreted it as a bullish sign of supply/demand tightening after a hot summer and lower production levels. By early afternoon, however, profit-taking dropped the front month into a narrow range of gains and losses.

Natural gas futures pushed higher Wednesday as traders positioned for a possible rare midsummer storage draw that would add further evidence of tightening market balances.

Natural gas futures forged upward through early afternoon trading on Wednesday, with the prompt month headed toward a sixth gain in seven sessions.

Natural gas futures erased early gains to finish lower on Tuesday as traders took profits to pause a rally sparked by this month’s dropoff in gas production.