Mid-Month to Mid-Month: Belvieu Prices Inch Up, Group 140 is Static
Thursday, November 12, 2020
During the latest mid-month period, posted and spot prices at Mont Belvieu strengthened, while those at Group 140, Conway, Kan., have held a very narrow margin, basically reversing the play of the month prior. Over the month, Belvieu’s posted prices strengthened by 3.75 cents, and spots rose by a slightly less 3.375 cents. Conway’s posted prices shifted upward by a mere 0.40 cents, while spots were a modest 1.375 cents higher.
Platform Capital Acquires Six Propane Distribution Companies In Oklahoma
Wednesday, November 11, 2020
Denver-based Platform Capital LLC has entered the propane distribution industry in a big way with its recent acquisitions of six independent propane distribution companies in Oklahoma. According to the company, the move comes as more consumers are buying propane for its economical, fuel efficient, eco-friendly traits and many family-owned propane storage and distribution companies are seeking a mutually beneficial exit strategy.
Chesapeake Utilities Subsidiary Buys Western Natural Gas
Wednesday, November 11, 2020
Chesapeake Utilities Corp. (Dover, Del.) has confirmed that its propane subsidiary, Sharp Energy, has acquired Western Natural Gas Co. (Jacksonville, Fla.). The parties closed on this transaction on Oct. 26, and terms of the deal were not publicly disclosed.
Dead River Acquires 10th Company In 3 Years
Wednesday, November 11, 2020
Cetane Associates LLC (Kent, Conn.) recently announced completion of the acquisition of the heating oil, propane, and service business of Fortier & Son Inc. (Somersworth, N.H.) by Dead River Co. (South Portland, Maine) on Oct. 27. Details of the acquisition were not revealed.
Meridian Finalizes Off-Take Agreement With Kiva Energy
Wednesday, November 11, 2020
Meridian Energy Group Inc. (Belfield, N.D,), an innovator in the petroleum refining industry, confirmed Nov. 5 that it has entered into a long-term contractual agreement with Kiva Energy, a full service, wholesale provider of propane, with regard to all NGLs produced at the Davis Refinery.
November U.S. Rig Count On The Rise
Wednesday, November 11, 2020
Moving into November 2020, the Nov. 6 U.S. rig count rose by four rigs to 300. Oil rigs were up by five to 226, gas rigs down one to 71, and miscellaneous rigs once again remained unchanged at three.

The U.S. rig count is down 517 rigs from last year's count of 817. Oil rigs decreased by 458, gas rigs were down by 59, and miscellaneous rigs were unchanged.
The U.S. offshore rig count declined by one to 12, and is off by 11 units year-over-year.
API Statement On Presidential Election Results
Wednesday, November 11, 2020
On Nov. 7, American Petroleum Institute (API) president and CEO Mike Sommers issued the following statement on the results of the 2020 election.

“We congratulate and look forward to working with President-elect Biden, Vice President-elect Harris, and the next Congress to support America’s economic recovery, which will be built on affordable and reliable American energy. In key battleground states and races across the country, Americans voted for U.S. energy leadership and the millions of jobs and economic benefits it provides.
DOT Approves NPGA Petition On DOT Cylinder Requalification
Wednesday, November 4, 2020
The National Propane Gas Association (NPGA) reports that the Pipeline and Hazardous Materials Safety Administration (PHMSA) of the Department of Transportation (DOT) has approved NPGA’s petition on the requalification of DOT-specification cylinders by hydrostatic testing, also known as the volumetric expansion testing method. This action, announced by PHMSA in an Oct. 30, 2020, final rule, returns the requalification period to 12 years.
Propane Equipment Helps Workers Reduce Harmful Emissions
Wednesday, November 4, 2020
The Propane Education & Research Council (PERC) has launched a new webpage dedicated to carbon monoxide (CO) safety and indoor air quality. The effort is intended to help raise awareness for CO Safety Month, recognized in November.
Global Emissions Have Decreased By 7%
Wednesday, November 4, 2020
On Nov. 2, the opening day of the virtual e-LPG Week, Dr. Fatih Birol, executive director of the International Energy Agency (IEA), addressed attendees about the role of energy in the global recovery from the COVID-19 pandemic. He explained the huge impact of the pandemic, with declines in energy usage of around 5% and some 20% reduction in investment, a situation not seen since World War II. Corresponding expected declines in global emissions of around 7% are the largest in history, but, as Dr.
U.S. Energy Security Achieved Its Best Level in 2019
Wednesday, November 4, 2020
In 2019, the United States was the most energy secure it has been since 1970, according to data in the 2020 edition of the annual Index of U.S. Energy Security Risk published by the U.S. Chamber of Commerce’s Global Energy Institute.
October Ends With An Increased Rig Count
Wednesday, November 4, 2020
For the period ended Oct. 30, the U.S. rig count rose by nine rigs from last week to 296. Oil rigs increased by 10 to 221, gas rigs fell by one to 72, and miscellaneous rigs remained unchanged at three.

The U.S. rig count is 526 rigs less than last year's count of 822. Oil rigs decreased by 470, gas rigs were off by 58, and miscellaneous rigs were up two.
The U.S. offshore rig count is unchanged at 13, but down nine units year-over-year.
OPEC Members' Net Oil Export Revenue Expected to Fall
Wednesday, November 4, 2020
The U.S. Energy Information Administration (EIA) forecasts that members of the Organization of the Petroleum Exporting Countries (OPEC) will earn about $323 billion in net oil export revenues in 2020. If realized, this forecast revenue would be the lowest in 18 years. Lower crude oil prices combined with a decrease in export volumes are driving this expected decrease in export revenues.
COVID-19 and Energy Transition Will Expedite Peak Oil Demand
Wednesday, November 4, 2020
The COVID-19 pandemic and the acceleration of the energy transition have led Rystad Energy (Oslo, Norway) to significantly revise its long-term oil demand forecast. The virus is expected to have a lasting impact on global oil demand, which the consultancy now sees peaking at 102 MMbbld in 2028. Before COVID-19, it had called for peak oil demand of just over 106 MMbbld in 2030.
Quarles Petroleum Acquires Dixie Gas & Oil Corp.
Wednesday, October 28, 2020
Quarles Petroleum Inc., a regional provider of residential and commercial fuels headquartered in Fredericksburg, Va., has purchased the propane and petroleum operations of Dixie Gas & Oil Corp., a third-generation family-owned propane, commercial fuels, and home heating oil distributor based in Verona, Va.
ROUSH CleanTech’s New Propane Fuel System Now Available
Wednesday, October 28, 2020
ROUSH CleanTech, an industry leader of advanced clean mobility solutions, began production of its Gen 5 propane autogas fuel system in September. The company’s innovative propane autogas technology integrates Ford’s new 7.3L V8 engine in Class 3-7 chassis. The Gen 5 propane fuel system is now available.
API Statement on Oct. 22 Presidential Debate
Wednesday, October 28, 2020
The American Petroleum Institute (API) released the following statement on the Oct. 22 presidential debate from API’s president and CEO, Mike Sommers.
U.S. Rig Count Up 5
Wednesday, October 28, 2020
According to the latest Baker Hughes Rig Count, released Oct. 23, the U.S. rig count is up five from last week to 287. Oil rigs are up six to 211, gas rigs are down one to 73, and miscellaneous rigs are unchanged at three.

The U.S. rig count is down 543 rigs from last year's count of 830, with oil rigs down 485, gas rigs down 60, and miscellaneous rigs up two.
The U.S. offshore rig count is down one to 13, down eight year-over-year.

The Canada rig count is up three from last week to 83. Oil rigs are up two to 42 and gas rigs are up one to 41.
Oil Production Costs Reach New Lows
Wednesday, October 28, 2020
A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014. This means that oil is much cheaper to produce now compared to six years ago, with the clear cost savings winner being new offshore deepwater developments.