Rolling Blackouts, Price Spikes Roil Energy Markets on Record Cold: Shortages and price spikes hit Texas and the Midcontinent as energy systems failed to cope with extreme cold weather, a failure due in part to wellhead freeze-offs that sent spot gas prices soaring.
Deep Freeze Cuts Anadarko Gas Supplies 60%+: Freezing weather in the Anadarko Basin has slashed gas delivery by up to 63% and sent gas prices surging to $300+ at some regional hubs, a development that could benefit midstream with exposure to percent-ofproceeds (POP) contracts and gas marketing businesses.
There’s a New Cowboy in Town: ExxonMobil (XOM/XTO) dropped its New Mexico rig count during the tumultuous 2H2020, but that’s not the only XOM news in the Delaware Basin: as part of its Poker Lake development, XOM is constructing the Cowboy Central Delivery Point, a gas processing facility with oil and NGL stabilization capability. (XOM/XTO)
North American Energy Indicators and Equity Prices