Lates News

The key indicator of natural gas prices in the local time of the Permian Basin, the spot delivery price at the Texas Waha Hub, is 35 cents per million British thermal units for the first time since February, marking the end of a record 131 consecutive days of prices below zero. The rise in prices was driven by hot weather, increased production capacity after some pipelines completed maintenance, and signs of recent expansion of key pipelines. This positive news is a signal to producers such as Permian Resources and Devon Energy that had previously shut down some wells with high gas-to-oil ratios to avoid further capital expenditure.