The loss of demand for Permian Basin crude oil collided with the completion of an aggressive campaign to build pipelines, but the story of natural gas balance in the region is unfolding nicely.
While U.S. natural gas demand was mostly flat in 2020, Mexico’s grew. And it came from Texas. The outlook is that Mexico will be ordering more, including from the Eagle Ford’s underdeveloped gas fairway.
The energy transition is moving at a fast and furious pace, and the oil and gas industry not keeping up presents its own series of risks, including alienating investors and falling behind in recruiting talent.