Higher Gas Prices Help to Drive Down Light NGL Frac Spread Margins

摘要

Increased natural gas feedstock prices as well as reduced natural gas liquids (NGL) prices resulted in a mixed bag for frac spread margins with lighter NGLs experiencing reductions in their margins while some heavy NGLs saw slight upticks in their margins. The biggest improvement in margin at either hub this week was experienced by Mont Belvieu iso-butane, which had a 1% increase in margin. This was followed by butane, which had a margin improvement of roughly 1% at both Conway and Mont Belvieu. Conway C5+ also had a margin improvement of approximately 1% this week.