Higher ethane recovery drove NGL production and transportation volumes in 3Q2020: DCP Midstream (DCP), Enable (ENBL), EnLink (ENLC), Enterprise (EPD), Energy Transfer (ET), and ONEOK (OKE) all reported an uptick in NGL production. Even with Hurricane Laura shutting down significant cracker capacity in September, ethane recovery and production levels remained near all-time highs. Ethane export demand grew as more international ethane crackers came online and more ethane export capacity starting along the Gulf Coast. According to the EIA, ethane exports increased 15% Y-o-Y in July and August 2020 despite widespread COVID-19 degradation. DCP, ENBL, ENLC, EPD, ET, OKE.
Green Shoots in the Mid-Continent – Cimarex Adds A Rig: A potential harbinger of better times to come, Cimarex Energy (XEC) began operating a rig in the STACK play of Oklahoma in late October, bringing the basin total up to 19 rigs. Our proprietary G&P Allocation Model shows XEC gas production in the STACK by multiple gatherers. DCP, ENBL, ENLC, OKE, XEC.
East Daley’s quarterly Post-Call Board Reports are now available for 25 companies under our Midstream coverage.
North American Energy Indicators and Equity Prices