- Inside Look at Processing Trends
- Robert Bryce to Give Keynote at GPA Convention
- KeyBanc’s Aydin: More Shale Deals, Gas Price Pressure, Oil Emphasis on the Way
- DFW Airport Awards Contract to Build, Operate New CNG Station
- Shuttering Old Coal-Fired Power Plants to Create Extra Natural Gas Demand
- Midstream News
- Ethane Stock Levels Fell 51% in October
- October Propane Stock Levels Down Slightly
- Butane Stock Prices Hit 15-Year High for the Month of October
- Iso-Butane Stock Levels Down 27% in October
- October 2009 C5+Stock Levels Hit 17-Year Low
- Fractionation Spread
- Frac Spread Margins Improve with NGL Prices
- International News
- Enterra Energy Becomes Latest to Convert from Energy Trust
Inside Look at Processing Trends
Robert Bryce, author and managing editor of Energy Tribune, will give the keynote speech Wind Power Isn’t ‘Green’ and Other Energy Heresies at the 89th Annual Gas Processors Association (GPA) Convention. The event will be held in Austin, Texas, from March 21-24 and will focus on the association’s transformation from representing the gas processing industry to the midstream as a whole as well as GPA’s advocacy efforts both locally and nationally.
The U.S. E&P sector appears poised for a strong showing as the global economy continues rebounding this year, according to KeyBanc analysts.
Clean Energy Fuels Corp. received a contract to build and operate a second CNG station at Dallas/Fort Worth Airport. This new station will serve the airport’s 46 rental car center shuttle buses as well as CNG vehicles in the region.
As old coal plants get shut down, gas producers have plenty to cheer about as the retirements will drive 3- to 5 billion cubic feet per day of incremental gas demand.
Ethane stock levels in October 2009 dropped to a 16-month low of 986,000 barrels (bbl), according to the U.S. Energy Information Administration, as a result of increased demand for ethylene. This stock level represented a 51% drop from the previous year, when the storage level was 2 million bbl.
Propane stock levels remained stagnant in October 2009, which is the latest information available from the U.S. Energy Information Administration, as they dropped 1% to 2 million barrels from the previous month.
Butane stock levels nearly doubled in October 2009 from their stock levels in the previous year, rising from 1.1 million barrels to 2.1 million barrels. This stock level was also 2% greater than the September 2009 stock level and 39% greater than in May.
Iso-butane stock levels were down 13% over a six-month period running from May 2009 to October 2009 when stocks fell from 572,000 barrels (bbls) to 496,000 bbls according to the most recent data available from the U.S. Energy Information Administration (EIA).
C5+ stock levels were down 48% during a year-on-year basis from October 2008 to October 2009 as stocks decreased from 961,000 barrels (bbl) to 503,000 bbl, according to the most recent information from the U.S. Energy Information Administration.
Natural gas liquid (NGL) frac spreads followed their NGL price movements this past week, as every NGL frac spread margin was up this week aside from C5+, the lone NGL to fall in price this week.
The House Subcommittee on Energy and Environment seemingly gave the nod to the proposed US$41 billion merger between ExxonMobil and XTO Energy. The main topic of discussion was on possible hydraulic fracturing legislation, which could trigger an exit clause on ExxonMobil’s behalf should it prove too costly.
Natural gas liquid (NGL) prices were up in all every case outside of C5+prices this week at both Mont Belvieu and Conway, as the U.S. winter continues to cut into natural gas storage levels. While current weather conditions remain pretty mild throughout much of the country, this price increase followed last week’s heavy natural gas in storage levels.
Enterra Energy Corp. became the latest Canadian energy trust to convert to a corporation due to the tax legislation that was passed by the Canadian government in 2006 that will tax trusts, which are similar in design and set-up to American master limited partnerships (MLPs), at the same rate as corporations in 2011.