Williams sold certain pipeline systems located in the Gulf Coast area to Easton Energy LLC for $177 million in cash, the Oklahoma company announced.
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October has turned out to be quite frightening for crude and propane bulls. The upward momentum that had been prevalent since April came to a screaming halt.
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Throughout last week, Mont Belvieu’s price correction deepened and its value relative to crude continued to deteriorate.
Read More ONEOK Inc. will become the sole owner of West Texas LPG, having completed its initial 80 percent interested in December 2014.
Read More Dixie Pipeline Co., an affiliate of Enterprise Products Partners, plans to expand the westbound transportation capacity of its pipeline system to Mont Belvieu, Texas.
Read More The U.S. supply equation continues to be dominated by the shale gas boom. This means more associated gas production and supply in the producing basins.
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Last week, U.S. crude production hit 11 million barrels per day for the first time ever.
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Over the last year, propane has been pulled higher by rising crude prices since propane’s relative value is not keeping up with the rise in crude’s price.
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Export activity in July and its resulting impact on U.S. inventory builds should be very interesting to monitor.
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The pricing pattern for March and May turned out to be very similar, but April was a little different.
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