Oil, gas and NGL markets have been undergoing significant changes in the past few years, as the U.S. has become a major player in the global energy scene, thanks to the shale revolution. The shale revolution has unlocked huge amounts of oil and gas from the tight and low-permeability formations, using horizontal drilling and hydraulic fracturing technologies. The shale revolution has enabled the U.S. to become the world’s largest producer and exporter of oil and gas, and to achieve energy independence and security. The shale revolution has also created economic and environmental benefits, such as lower energy prices, higher revenues, more jobs, and lower emissions.

But the shale revolution has also brought new challenges and uncertainties for the U.S. oil and gas industry, as it has to cope with the fluctuations and the shocks of the global oil and gas demand and supply, such as the COVID-19 pandemic, the OPEC+ production cuts, and the geopolitical tensions. The shale revolution has also affected the dynamics and the relationships of the various oil, gas and NGL benchmarks, such as West Texas Intermediate (WTI), Brent, Western Canadian Select (WCS), and Magellan East Houston (MEH). These benchmarks are the reference prices for the different grades and locations of oil, gas and NGLs in the U.S. markets, and they reflect the quality, the transportation cost, and the market conditions of the oil, gas and NGLs. The benchmarks are also used to price the oil, gas and NGL contracts and transactions, and to hedge the oil, gas and NGL price risk. The benchmarks are connected and interact with each other, depending on the availability and the accessibility of the oil, gas and NGL supply, the demand and the preferences of the oil, gas and NGL buyers, and the arbitrage and the competition of the oil, gas and NGL markets.

Understanding the connections and interactions among the oil, gas and NGL benchmarks is key to surviving the new era in energy, as it helps the oil and gas industry to monitor the markets, spot the opportunities, and understand the impacts of taking action. It also helps the oil and gas industry to anticipate the current state of the markets, as well as the potential future trends that could affect them or their businesses. At RBN’s upcoming School of Energy, attendees will get educated on the different components of the oil, gas and NGL markets and how they interrelate. They will learn how to master the oil, gas and NGL market links and what they mean for their business. They will also get a chance to meet other oil and gas professionals with diverse backgrounds and critical insights. RBN’s 17th School of Energy will be held September 19- 20, 2023, at The Houstonian Hotel in Houston. Register now and get ready to immerse yourself in the interconnected world of oil, gas and NGLs and find out what trends major market players are pumped-up for, keeping close track of, or have them downright nervous.