Permian Production Growth Outpaces New Capacity Amid Waha Price Pressure
Enterprise Products Partners has approved two new natural gas processing plants in the Permian Basin. The move comes as the region's production continues to grow, with Enterprise executives estimating that about 2 Bcf/d of curtailed production could return and put pressure on Waha prices again before 2027.
The company's Co-CEO, Teague, is retiring after a 50-year career. The Permian Basin has seen its processing volumes climb by 14% year-over-year, but this new capacity may threaten to relieve some of the region's supply constraints and reduce Waha prices.