Now this, from oilprice:
Apache Corporation said on Tuesday that it had temporarily started to delay natural gas production at its Alpine High play in the Permian in late March to mitigate the impact of the extremely low prices at the Waha hub in West Texas.On a huge day for the market, Apache closed down almost 2%.
Currently, the company is deferring around 250 million cubic feet (MMcf) per day of gross gas production.
Natural gas prices at the Waha hub plummeted to record low negative levels in early April, as pipeline constraints and problems at compressor stations at one pipeline stranded gas produced in the Permian.
Spot prices at the Waha hub plunged to a record low of minus $4.28 per million British thermal units (MMBtu) in the first week of April.
Gas production in the Permian has been rising in lockstep with crude oil production, and even though gas takeaway capacity has attracted less media attention, pipeline constraints for natural gas are similar to those of crude oil pipeline capacity.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on anything your read here or think you may have read here.