The Daley Note

14Apr2026

Iran War, Higher Oil Prices Knock Down EDA Gas Forecast

Anadarko, Bakken, Crude, Eagle Ford, Enbridge, Haynesville, Natural Gas, Northeast, Permian, Plains, The Daley Note

We have lowered our natural gas price forecast due to the ripple effects of the Iran conflict. Last week East…

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10Apr2026

Texas Pipes are Near-Term Tailwind, Long-Term Drag for Kinder Morgan

Energy Transfer, Enterprise, Equity, Kinder Morgan, Kinetik, Natural Gas, Permian, Targa, The Daley Note

Kinder Morgan’s Texas Intrastate business is set up for a near-term boost, but East Daley thinks the market underappreciates how…

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9Apr2026

KMI Poaches Bakken NGLs From ONEOK Contract Roll-Off

Bakken, Crude, Kinder Morgan, Natural Gas Liquids, Oneok, The Daley Note

ONEOK will lose ~18 Mb/d of NGLs in the Bakken to Kinder Morgan when a shipping contract rolls off later…

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8Apr2026

First LNG Production at Golden Pass Signals Shift in TX/LA Border Flows

ArkLaTex, ExxonMobil, Haynesville, Natural Gas, The Daley Note

Golden Pass LNG achieved first LNG production from Train 1 on March 30, with an initial cargo expected to depart…

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7Apr2026

How the Iran War is Bearish for US Gas

Bakken, Crude, Eagle Ford, Natural Gas, Permian, Powder River, The Daley Note

The Iran conflict has injected a sustained risk premium into global crude markets, pushing up not only near-term prices but…

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3Apr2026

Widening Crude Spreads Unlock Upside for South Bow

Crude, Equity, South Bow, The Daley Note

Oil market volatility from the Iran conflict could pump up earnings for South Bow. The company’s marketing segment has faced…

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2Apr2026

Connect the Dots: Targa Building Intra-Permian Pipes to Link Vast G&P Network

Delaware Basin, Energy Transfer, Natural Gas, Permian, Targa, The Daley Note

Targa Resources is constructing several gas pipelines in the Permian to better connect the company’s sprawling G&P footprint in West…

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1Apr2026

Targa’s Galena Park Disruption Opens Door for Competing Exporters

Energy Transfer, Enterprise, Equity, Natural Gas Liquids, Propane, Targa, The Daley Note

An outage at Targa Resources’ Galena Park terminal comes at a precarious moment for global LPG markets and could boost…

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31Mar2026

At $100 Crude, Permian Pipes Fill Faster Than You Think

Crude, Enbridge, Enterprise, Pembina, Permian, Plains, The Daley Note

Conflict in the Middle East has disrupted the stay-the-course narrative embraced by most Permian producers at the start of 2026.…

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27Mar2026

The Hormuz Will Reopen Before the Crude Market

Crude, The Daley Note

The closure of the Strait of Hormuz is driving sharp volatility in crude oil and has pushed markets to trade…

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26Mar2026

Coal Plant Conversions Support Gas Demand Growth

Natural Gas, The Daley Note

Despite vocal support from President Trump, the coal industry faces a bleak future as utilities convert older power plants to…

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25Mar2026

Ethane Crackers Gain as Hormuz Disruption Lifts Global Feedstock Costs

Ethane, Natural Gas Liquids, Propane, The Daley Note

US Gulf Coast ethylene prices have moved sharply higher in the weeks since the war with Iran escalated, but the…

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The Daley Note

Iran War, Higher Oil Prices Knock Down EDA Gas Forecast

Texas Pipes are Near-Term Tailwind, Long-Term Drag for Kinder Morgan

KMI Poaches Bakken NGLs From ONEOK Contract Roll-Off

First LNG Production at Golden Pass Signals Shift in TX/LA Border Flows

How the Iran War is Bearish for US Gas

Widening Crude Spreads Unlock Upside for South Bow

Connect the Dots: Targa Building Intra-Permian Pipes to Link Vast G&P Network

Targa’s Galena Park Disruption Opens Door for Competing Exporters

At $100 Crude, Permian Pipes Fill Faster Than You Think

The Hormuz Will Reopen Before the Crude Market

Coal Plant Conversions Support Gas Demand Growth

Ethane Crackers Gain as Hormuz Disruption Lifts Global Feedstock Costs

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