Ethane, Propane Exports Diverge in 2025
US NGL exports diverged sharply in 2025, offering an early signal of how global trade fragmentation may shape flows in…
The Daley Note
Reading the 4Q25 Tea Leaves: Bahia, Northwind Set Table for Next Earnings; KMI Opens Strong in Gas
Kinder Morgan opened the 4Q25 earnings season with a bang, reporting record earnings in its natural gas business. Enterprise Products…
Williams Expansions Boost Rockies’ Access to Western Gas Market
Williams has started service on an expansion of its MountainWest Overthrust Pipeline. The project is one of several planned on…
Arctic Blitz Cuts Energy Supply, Ignites 100%+ Henry Hub Rally
After a long spell of mild weather, Old Man Winter has returned with a vengeance. A powerful Arctic storm is…
Permian M&A: Consolidating the Edge to Fortify the Core
Midstream companies in 2025 accelerated efforts to vertically integrate, driving a rotation of capital out of lower-synergy, non-core assets and…
With Lake Charles LNG Suspension, ET Beaches its White Whale
After 12 years, Energy Transfer is walking away from the Lake Charles LNG export project. The decision left many investors…
Meta’s Project Sucre Hits the Sweet Spot for Louisiana Gas Market
The data center boom is coming to Louisiana, bringing upside to the state’s natural gas market. Utility Entergy Louisiana is…
ONEOK Ramps Volumes on Expanded Elk Creek Pipeline
ONEOK continues to rapidly fill its expanded Elk Creek Pipeline, diverting more ethane from its legacy Bakken pipeline to the…
Gassier Permian Wells Prompt Investor Consternation, Midstream Opportunities
Hydrocarbon production from the Permian Basin is growing gassier. Depending on where you sit in the industry, the trend is…
ET Boosts Desert Southwest Capacity, Keeps Ball Rolling for Permian Pipe Boom
Energy Transfer is expanding the capacity of the Desert Southwest expansion on Transwestern Pipeline, adding momentum to the build underway…