The Permian Shrugs Off Below-Zero Natural Gas Prices in Texas
Permian producers are not shutting in oil wells with associated natural gas despite the fact that the Texas regional gas price has been stuck at below-zero levels since early March. Major pipeline operators in the Permian basin haven't yet seen any effect of the negative gas prices at the Waha hub in West Texas on activity as producers are look to maximize oil realizations at West Texas Intermediate crude prices at above $80 per barrel. But the U.S. natural gas benchmark, Henry Hub, has been depressed below $2.00 per million British thermal…