Locator: 50945B.
Pageviews: 5:30 a.m. CT, June 9, 2026 -- 60,263,731.
Sell-off: that one day sell-off? That was it? AAPL lost 2%.
Beer:
- favorite brand, 6-pack: $10.99
- favorite brand, 12-pack: $15.99
Rum: $17 for standard-size plastic container
- hasn't changed price in at least two years?
Hoarding: you know what happens when folks hoard toilet paper -- shelves go empty and prices increase.
Same thing with oil After this year's oil shock (Mideast war / blockade of Strait of Hormuz) every country in the world will buy as much crude oil as they can afford and store it / hoard it in their own private little SPR.
Chart of the day: Marvell. Marvell will be added to the S&P 500 on June 22, 2026. Marvell will replace PoolCorp (POOL).
"You can howl at the wind, but AI is here to stay." The build out of AI / LDCs will be stretched by several years due to NIMBY and cash flow.
That surge in Micron? It's not over. Up $85 yesterday. Futures today, up another $40.
*******************************
Back to the Bakken
WTI: $89.36. Trump jaw-boning (again), peace is at hand, and the price of oil is about to plummet. It gets tedious.
New wells reporting:
- Thursday, June 11, 2026: 12 for the month, 168 for the quarter, 325 for the year,
- 42168, conf, Formentera Operations, Maverick-22-10-BND N611H,
- 36279, conf, Enerplus, Aardwolf 148-94-03A-10H,
- Wednesday, June 10, 2026: 10 for the month, 166 for the quarter, 323 for the year,
- 41758, conf, KODA Resources, Stout 1336-8BH,
- 36281, conf, Enerplus, Elephant 148-94-03A-10H,
- Tuesday, June 9, 2026: 8 for the month, 164 for the quarter, 321 for the year,
- None.
RBN Energy: Permian's "wellhead-to-water" midstreamers dominate NGL-related development. Link here. Archived.
There’s an interesting aspect to the buildout of new Permian gas processing capacity, NGL pipelines, fractionators and NGL export terminals, namely that virtually all of the projects are being undertaken by midstream companies that handle NGLs along their entire value chain, from wellhead to water. That’s a rarity in the crude oil world and just about impossible in natural gas — no classic midstreamer owns LNG export terminals! In today’s RBN blog, we continue our look at the latest NGL-related infrastructure developments in the region with a review of current projects by Energy Transfer, ONEOK, MPLX and Phillips 66. We’ll also take a big-picture look at gas processing capacity in the basin and where most of the growth is occurring.
As we said in Part 1, the rapid buildout of Permian gas processing plants and other NGL-related infrastructure in Texas and southeastern New Mexico is continuing, even as crude oil-focused production in the Permian has remained flat. We explained that, generally speaking, newer wells in the basin are gassier and saturated with ever-higher levels of NGLs. Those trends have spurred the development of more and more processing plants as well as additional takeaway capacity (for both NGLs and natural gas), more fractionators in Mont Belvieu (and elsewhere), and more LPG and ethane export capacity along Texas’s Gulf Coast.
We started our review of the infrastructure projects now under development with a look at what Targa Resources and Enterprise Products Partners have been up to. Today, we follow up with a review of projects planned by four other midstreamers that are involved in every aspect of NGL processing and transportation.
We’ll start with Energy Transfer, which is in the midst of expanding almost every link along its NGL value chain. Out in West Texas, the midstreamer has been commissioning its 275-MMcf/d Mustang Draw I gas processing plant in the Midland Basin and expects it to be fully operational in June. Energy Transfer also is building Mustang Draw II, another 275-MMcf/d plant, and will bring it online in Q4 2026. (That will give Energy Transfer a total of about 5.8 Bcf/d of processing capacity in the Permian.) In mid-2026 the company will complete a 90-Mb/d expansion of its Lone Star Express NGL pipeline and in mid-2027 it will finish a pipeline looping project upstream of Lone Star Express that will enable Energy Transfer to source an incremental 150 Mb/d of NGLs from the Northern Delaware.
Energy Transfer’s Nederland Terminal. Source: Energy Transfer
