The Energy Data Studio platform’s interactive dashboard allows users to easily navigate weekly, monthly, and quarterly updates to individual producers, midstream assets, and midstream company financials, providing flexibility for working with data. It is available through data downloads from the visual interface, in Excel files, or as direct data delivered into subscribers’ workflow via secure file transfer.
Energy Transfer (ET) released earnings on Feb. 15, and while the company beat both East Daley and consensus expectations, 2023 guidance came in well below our forecast. We trace the discrepancy to ET’s exposure to falling natural gas prices.
ET guided to 2023 Adj. EBITDA of $12.9-$13.3 billion, well below East Daley’s estimate of $13.4 billion in our company Financial Blueprint. Our forecast was based on our last Blueprint model released mid-January, when the forward Henry Hub price still averaged $4.26/MMBtu for 2023.
Henry Hub futures have fallen sharply in 2023 on a combination of mild winter weather and strong supply growth. As of Feb. 17, the forward curve averaged $2.86/MMBtu for the year, a 33% drop from our mid-January update ahead of the 4Q22 report.Read Full Article
The Daley Note: September 26, 2023
LPG exports are up 5% YTD in 2023 vs 2022, and midstream companies anticipate more demand from new...
The Daley Note: September 21, 2023
Consolidation continues in the Permian Basin as producers look to add reserves in the industry’s hottest...
The Daley Note: September 20, 2023
Mountain Valley Pipeline (MVP) has filed with regulators to increase maximum tariff rates by 80% or...
The Daley Note: September 19, 2023
The Trans Mountain Pipeline expansion (TMX) faces the prospects of more delays to finish construction,...