![]() ![]() On Wednesday, they hit a more-than-seven-month high, at 3.26 per mmBtu. ![]() In 2015, approximately 427.6 thousand barrels per day of propane, butanes, and condensate were produced in Alberta: 36 per cent was propane, 20 per cent were butanes, and 44 per cent was condensate.įor additional analysis on the effect of the 2013/14 polar vortex on propane markets, please see the Propane Market Review prepared jointly by the NEB and Competition Bureau, as well as the NEB's 2016 Update. Natural gas prices are up about 12 percent over the last month to roughly 3.16 per million British thermal unit. "Fractionation" is the process of splitting a stream of natural gas liquids into components such as propane, butane and condensates (or fractions, including propane) through a distillation process. The current price of natural gas as of Jis 2.57. Natural gas is first processed at gas plants to produce a mix of pipeline gas and natural gas liquids. Interactive chart illustrating the history of Henry Hub natural gas prices. This is a sharp contrast to the average $6.88 per gigajoule propane frac spread between January 2012 and December 2014. Since January 2015, it has averaged negative $0.96 per gigajoule, meaning that propane had more value as heat in the natural gas stream than as an extracted NGL. After a particularly large spike during the 2013/14 polar vortex, Footnote 3 the propane frac spread dropped dramatically. Propane prices have been the largest contributing factor to the overall decline in the value of NGLs. Under price reporting guidelines issued by the US Federal Energy Regulatory Commission in 2003, which apply to US natural gas markets, companies should report. View the futures and commodity market news, futures pricing and futures trading. This resulted in the frac spread increasing 40 per cent to $5.37 per gigajoule in April. NGZ22 A complete Natural Gas Dec 2022 futures overview by MarketWatch. ![]() Since then, intra-Alberta natural gas prices have declined 45 per cent to $1.25 per gigajoule in April 2016, while condensate prices have increased 25 per cent. Production-weighted frac spreads reached a low of $3.82 per gigajoule in February 2016. Footnote 2 After spiking during the winter 2013/14 polar vortex, the production-weighted frac spread declined substantially for the rest of 2014, reaching $5.61 per gigajoule in January 2015 – a drop of 57 per cent from January 2012. In response to the earlier slide in prices, the number of rigs drilling for oil and gas across the United States has fallen to the lowest level since World War Two.īy the start of June 2016, there were just 82 rigs drilling for gas, down from over 300 in June 2014, according to services company Baker Hughes.The production-weighted frac spread of propane, field butane, and condensate provides an estimate of the overall margin received for gas processing in Alberta by factoring in the percentage that each NGL contributes to the total volume of NGLs produced in Alberta. But the build has shrunk steadily from a record 1.014 trillion cubic feet (69 percent) in March ( tmsnrt.rs/29tgsGw). Gas stocks are 513 billion cubic feet (19 percent) higher than in the same week in 2015. Energy Information Administration ( tmsnrt.rs/29AF787). natural gas futures fell back from levels not seen since 2008. The volume of gas in working storage hit a record 4.01 trillion cubic feet in November 2015 and is still at 3.18 trillion cubic feet, according to the U.S. LNG stocks traded generally higher Wednesday, a day after U.S. natural gas prices have risen by a third since hitting a two-decade low in the first quarter, amid signs supply and demand are rebalancing and excess stocks left over from an unusually warm winter are being worked down. A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. intraday 1w 1m 6m ytd 1y 3y 5y max Mountain-Chart Date Commodity Snapshot 2.55 Prev. ![]()
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