Energy Prospectus

https://d1io3yog0oux5.cloudfront.net/_57e31cfd597d5b5e6bb80322c7a6b2fa/anteroresources/db/732/7260/pdf/AR+Investor+Presentation_Mar-23_03.06.2023_vF1.pdf

Interesting, they observed haynesville drilling activity falls when NG below 3
Also shows some comps

They dropped the arb slide on liquid's arbritage probably due to weak prices and propane glut.

All propane users; you can fill up tanks without restrictions

Fed increased 25 basis points. Haynesville and Marcellus drillers must cut completions by 25% balance of year.

Just read this

https://content.clusterx.com/cluster-article/321-strong-waterborne-imports-support-east-coast-propane-market

One company that has really helped shore up supply into the region this winter season has been Blackline Midstream which has imported four cargoes into their Sea-3 terminal at Newington, NH
Blackline’s Newington terminal has

• • received import shipments of propane from Africa

totaling about 1 million barrels (MMbbl) since November, including cargoes in January, February, and March (~250 Mbbl each). And although you might think that receiving waterborne shipments of propane out of Marcus Hook or export terminals along the Gulf Coast would be a better option, that would require the use of Jones Act Compliant vessels which are not available in the LPG shipping market.

So New England has to import propane from Africa instead of receiving it from AR in PA.Totally insane. We used to buy NG from Russia

That's totally clown world.