East Daley Releases 2021 Midstream Guidance Outlook: East Daley’s annual Midstream Guidance Outlook report is now available. In “Fight or Flight: Taking Stock of the Midstream,” we preview the biggest trends we see ahead for commodities and midstream capital markets in 2021.
U.S. Rigs Increase by 11 to 317 in Latest Week: Total U.S. rigs increased by 11 in the latest week, bringing the total U.S. rig count to 317, according to our Midstream Activity Tracker. Continuing a bullish trend, Targa Resources is up 3.0 rigs on its Permian and Bakken systems. TRGP
ET’s Texas-Sized Rig Recovery: Energy Transfer saw large rig gains this past week in the Eagle Ford, Permian, and ArkLaTex basins, according to our Midstream Activity Tracker. Producers added an average of 11.2 rigs on four ET systems in one week. ET
MVP Construction Moves Forward on Appeals Ruling: A federal appeals court on November 18 denied a motion to stall work on the Mountain Valley Pipeline (MVP), one of two legal wins Equitrans Midstream needs to finish work on the long-delayed MVP project. With only 8% left to complete, MVP’s uncertain outlook drives the fate of long-term Northeast production and price differentials. In our Northeast Production & Constraint Forecast, we model that rapid growth in regional gas production requires MVP to be in service by 2022 or the Northeast will face egress capacity constraints and structurally wider differentials. ETRN
North American Energy Indicators and Equity Prices