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China to contend for NGL crackers; Range to move NGL amid Mariner East shutdown

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China to contend for NGL crackers; Range to move NGL amid Mariner East shutdown

Appalachia competing with China for NGL crackers, petchem exec says

China is Appalachia's newest competitor in the quest to convince petrochemical firms to build more ethane crackers there, a U.S. petrochemical executive said at a conference on June 5. "The reason potentially that that business model makes sense is because they believe that in China … they can build a cracker, an ethane cracker, for 50% of what it takes to build it here in the United States," Westlake Chemical Corp.'s Executive Vice President for Olefins Lawrence Teel said on a panel at the U.S. Energy Information Administration's 2018 conference in Washington, D.C.

Report: Range to move NGLs through other contracts amid Mariner East 1 shutdown

Range Resources Corp. executed agreements with other pipeline companies to transport volumes meant for the Mariner East 1 NGL pipeline before it was shut down due to safety issues, Reuters reported June 9. While Range has capacity on the Mariner East 1 for 20,000 barrels per day of ethane and propane, the Appalachian oil and gas driller also said it can move roughly 41,000 bbl/d of ethane on other pipelines besides Mariner East 1, the report said, citing a June 7 note from Range to investors and analysts.

Devon shares jump after $3B midstream sale juices buyback plans

Investors liked the unexpected June 6 news that oil and gas producer Devon Energy Corp. is selling its EnLink family of midstream companies to a private equity fund and plans to use the cash to supersize its share buyback plan. By midday June 6, the price of Devon shares spiked 6% to nearly $42 per share in extremely heavy morning trading.

Pa. shale gas activity moving southwest, according to May permitting data

Permitting for shale gas wells in Pennsylvania's dry gas northeast corner dropped precipitously during May, while the total number of monthly permits pulled statewide increased 10% from last year, state data showed. May's numbers from the Department of Environmental Protection show a continued shift to the southwest portion of the state as more pipeline capacity becomes available with the startup of Energy Transfer Partners LP's Rover Pipeline LLC in the region.