<article><p>US NGL gas plant production rose to a fresh record high of 3.181mn b/d in March despite sharply lower pricing incentives for purity NGLs.</p><p>NGL production previously peaked in October 2014 as global crude and energy commodity prices began a down cycle. Average spot NGL prices at Mont Belvieu, Texas, in March were 18pc-43pc lower than average levels in October. Average monthly propane spot prices were down nearly 40¢/USG at 54.25¢/USG, while average butane prices shifted lower by 48.25¢/USG to 65.625¢/USG in March. Ethane prices, which are more closely tied to natural gas futures than oil futures, softened by just 4¢/USG to average 18.5¢/USG.</p><p>The US Energy Information Administration (EIA) marked propane output higher than ethane for the third consecutive month as US ethane rejection continues to surge. Industry estimates peg rejection at 500,000-550,000 b/d. </p><p>Propane production grew by 27,000 b/d to 1.098mn b/d, while ethane output firmed 21,000 b/d to 1.081mn b/d. Pentanes plus, or natural gasoline production gained 18,000 b/d to stand at 405,000 b/d. </p><p>Isobutane production rebounded to 277,000 b/d, while butane production dipped by a slight 3,000 b/d to 321,000 b/d.</p><p>Bakken NGL production slipped slightly by 2,000 b/d to 143,000 b/d. Losses were heavily offset by a surge in the Marcellus producing region, which saw NGL output grow from 223,000 b/d to 255,000 b/d. </p><p>lb/dcb</p><p><br> Send comments to <a href="mailto:feedback@argusmedia.com" target="_parent"> feedback@argusmedia.com </a></p><p><u><a href="http://www.argusmedia.com/Info/General/News" target="_TOP"> Request more information </a></u> about Argus' energy and commodity news, data and analysis services. </p><p><i> Copyright © 2015 Argus Media Ltd - <a href="http://www.argusmedia.com/" target="_TOP"> www.argusmedia.com </a> - All rights reserved. </i></p></article>
