SUBSCRIBER NOTE: Platts launches new US Gulf Coast crude export assessments

In response to continuing changes in the crude oil landscape in the US, in particular the December 2015 legislative change opening the way for unrestricted exports of crude oil, Platts is launching several new assessments to reflect the price of various grades of oil available for export.

With effect from Monday, February 8, 2016, Platts is launching new assessments at both Houston and Corpus Christi for crude and condensate coming from the Eagle Ford area of southern Texas, and at Houston for West Texas Intermediate crude.

The Eagle Ford crude assessments at Houston and Corpus Christi will reflect a typical API gravity of 45 degrees and maximum 0.2% sulfur, while the Eagle Ford condensate assessments will reflect a typical API gravity of 55 degrees and maximum 0.1% sulfur.

Platts may take into account bids, offers and transactions for other qualities of Eagle Ford crude and condensate in the assessment process.

The new WTI assessment at Houston, which complements the existing Light Houston Sweet and WTI MEH assessments for local trading, will reflect the typical specifications of WTI crude at Midland, Texas.

The assessments will all reflect a typical volume size of 600,000 barrels, loading FOB from terminals in the greater Houston and Corpus Christi areas.

The assessments will reflect the value of crude and condensate loading over the course of a full calendar month. During the first 14 days of any month, the assessments will reflect the next month, and then roll with effect from the 15th of the month to the second month out. For example, from March 1-14, the assessments will reflect oil loading in April, while from March 15-31 the assessments will reflect May-loading cargoes.

The new assessments will be published as outright prices in $/barrel and also as differentials to the forward value of WTI crude at the time of loading.

The daily assessments will be published on Platts Global Alert pages 210, 214, 222, and 260, in Platts Crude Oil Marketwire, Platts North American Crude and Products Scan, Platts Oilgram Price Report, and in Platts database under the following codes:

AAYAR00 - Eagle Ford Condensate Corpus Christi AAYAS00 - Eagle Ford Condensate Corpus Christi vs forward WTI AAYBB00 - Eagle Ford Condensate Houston AAYBC00 - Eagle Ford Condensate Houston vs forward WTI AAYAT00 - Eagle Ford Crude Corpus Christi AAYAU00 - Eagle Ford Crude Corpus Christi vs forward WTI AAYAV00 - Eagle Ford Crude Houston AAYAW00 - Eagle Ford Crude Houston vs forward WTI AAYBA00 - WTI Houston AAYAZ00 - WTI Houston vs forward WTI

For questions or comments, please email americas_crude@platts.com, with a cc to pricegroup@platts.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.