Platts proposes change to Waha natural gas index methodology

Platts, part of S&P Global Commodity Insights, proposes to continue including trades at Oneok Westex in the Waha natural gas index, following a period of market consultation with a request for feedback published in a subscriber note on Feb. 1, 2023, which can be found here.

It was noted that instances where there are significant price differences for trades at Oneok Westex compared to other locations mapped to the Waha index were limited.

In addition, due to their geographical proximity to the Waha header system area, Platts also proposes to add the Agua Blanca Pipeline, Trans-Pecos Pipeline, Double E Pipeline, Comanche Trail Pipeline, Roadrunner Pipeline and Red Bluff Express Pipeline to the Waha methodology for daily and monthly indices.

The proposed new Waha methodology would be as follows:

Deliveries into interstate and intrastate pipelines at the outlet of the Waha header system located in the Permian Basin in West Texas.

Pipelines and locations include El Paso Natural Gas, Transwestern Pipeline, Natural Gas Pipeline Co. of America, Northern Natural Gas, Delhi Pipeline, Oasis Pipeline, Atmos Zone 1, Oneok Westex, Enterprise Texas Pipeline, Permian Highway Pipeline, Gulf Coast Express Pipeline, Agua Blanca Pipeline, Trans-Pecos Pipeline, Double E Pipeline, Comanche Trail Pipeline, Roadrunner Pipeline and Red Bluff Express Pipeline, but does not include Atmos Zone 3 or Tolar Hub.

The proposed change would become effective for trade date May 31 for flow date June 1 for the daily indices and for May 24 for monthly indices, the first trading day of June bidweek.

The locations and symbols effected by this change would include the Waha Daily Final (IGBAD00) and Waha Monthly Final (IGBAD03) indices.

Please send all feedback, comments and questions to americasgaspricing@spglobal.com and pricegroup@spglobal.com by April 14, 2023.

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.