In an unusual event, U.S. natural gas prices in West Texas have been trading in ...
- In an unusual event, U.S. natural gas prices in West Texas have been trading in negative territory for more than two weeks, largely due to a lack of pipeline space, forcing some drillers to pay those with spare pipeline capacity to take unwanted gas.
Construction of new oil and gas pipelines in the Permian has not kept up with output, which has more than doubled over the past three years as the United States has risen to become the world’s largest oil producer. EDF, however, believes drillers are burning more than the official figures. It used U.S. National Oceanic and Atmospheric Administration satellite data to estimate that Permian drillers burned twice as much gas in 2017 - about 0.28 bcfd - than reported.CAN DRILLERS BURN GAS FOR AS LONG AS THEY WANT?
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