Permian spot prices in negative territory amid takeaway constraints

摘要

Natural gas spot prices in the Permian production areas tumbled into negative territory Monday amid capacity constraints and high production. Waha sank into the negative territory and stood at minus $4.76/ MMBtu, a drop of $4.95 on the day, an 11-day low, likely driven by maintenance through El Paso’s Cornudas compressor station. Waha spot settled at negative $2.50/MMBtu on April 9.