No Wells Coming Off Confidential List -- WTI Can't Hold Above $75 -- July 20, 2023

Locator: 45172B. 

WTI: $74.80.

Friday, July 21, 2023: 79 for the month; 187 for the quarter, 442 for the year
39357, conf, CRL, Vance 6-14H,
38685, conf, Hess, GO-Ron Viall-156-98-2513H-2,
35020, conf, BR, Lillibridge 1A MBH,

Thursday, July 20, 2023: 76 for the month; 184 for the quarter, 439 for the year
None.

RBN Energy: Enterprise's NGL transportation, storage, fractionation and export machine, part 4. Archived.

Less than a handful of U.S. midstream companies own and operate extensive NGL networks that do it all: extract mixed NGLs from associated gas at their processing plants, transport that “Y-grade” to their underground salt-cavern storage facilities in Mont Belvieu, fractionate mixed NGLs into so-called “purity products” at their fractionators, then pipe that ethane, LPG and other products either to domestic end-users or to company-owned export docks. Enterprise Products Partners is a member of that select group and, as we discuss in today’s RBN blog, its NGL network — which stretches from Appalachia to the Permian to the Rockies — is the most extensive.

As we said in Part 1 of this series, the rise in U.S. NGL production in the early years of the Shale Era was accompanied by a massive build-out of the infrastructure required to take NGLs from the wellhead to the consumers of ethane, propane and other NGL purity products. While we have written countless blogs about the bits and pieces of infrastructure development, what we haven’t done, at least until now, is discuss in holistic terms the NGL networks that a select few large midstream companies have come to own and operate. We started our review with Energy Transfer, which owns NGL networks in Texas and (as we discussed in Part 2) the Northeast as well.

In Part 3, we shifted our focus to Targa Resources, which, in addition to being a major gas gatherer and processor in the Permian and a number of other production areas, owns the Grand Prix NGL pipeline system and is one of the biggest players in Mont Belvieu, the fractionation hub east of Houston. Targa also owns and operates a huge LPG export terminal along the Houston Ship Channel at Galena Park.