Next-day natural gas prices for Wednesday at the Waha hub in West Texas plunged ...
- Next-day natural gas prices for Wednesday at the Waha hub in West Texas plunged to a record low due to an equipment failure in New Mexico that stranded gas in the Permian basin.
That fell below the contract’s prior all-time low of 21 cents in February and compares with an average of $1.72/mmBtu so far this year, $2.10 in 2018 and a five-year average of $2.80, according to data available on the Refinitiv Eikon going back to 1991. The Permian is the biggest oil-producing shale basin in the United States and since much of that oil comes out of the ground with gas, it is also the nation’s second-biggest shale gas producing region, behind Appalachia in Pennsylvania, West Virginia and Ohio.
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