Spot prices at the Waha gas trading hub in Texas fell to -$9.75 per million British thermal units, marking a historical low.
Insufficient natural gas transportation infrastructure in the region leads to localized surpluses and negative pricing.
Despite low gas prices, oil production remains profitable for drillers due to the high demand and prices for crude oil.

Texas

state of the United States of America

Waha

section of Marche-en-Famenne, Belgium

The Permian Basin Petroleum Museum

American nonprofit organization

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