EP Permian at all-time low as maintenance strands gas in production areas

摘要

An equipment failure on an El Paso Natural Gas Pipeline in New Mexicois stranding gas in the Permian Basin and prices there plummetedMonday to an all-time low.El Paso Permian dropped $1.31 on the day and was trading at 20cents/MMBtu. Later in the day, prices settled at 59.5 cents/MMBtu,down 92 cents on day, moving as low as zero cents/MMBtu.EP Permian cash basis widened to minus-$2.65/MMBtu afteraveraging minus-$1.11/MMBtu in the year so far. Spot prices averaged71 cents below Henry Hub during the same time last year.