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re: Natural gas producers in TX paying people to take supply as prices sink deeper negative
Posted on 4/27/24 at 6:56 pm to ragincajun03
Posted on 4/27/24 at 6:56 pm to ragincajun03
This was happening in 2018/9 when I was a production engineering in Loving County in West TX.
The demand is so little there and the capex to run pipeline from there to either CA or East so very high.
Lot of it gets burned, but that releases a lot of CO2 in the area. I think it's gotten strict around flaring the gas. It's a deficit to E&Ps there. $84 WTI makes up for it, but otherwise they got their testes in a vice grip.
The demand is so little there and the capex to run pipeline from there to either CA or East so very high.
Lot of it gets burned, but that releases a lot of CO2 in the area. I think it's gotten strict around flaring the gas. It's a deficit to E&Ps there. $84 WTI makes up for it, but otherwise they got their testes in a vice grip.
This post was edited on 4/27/24 at 6:58 pm
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