Eagle Ford producers were feeling fine after licenses for export of ultralight crude, called lease condensate, were made public.
The rest of the industry was jittery as refiners saw values drop.
Reports of two licenses approved for condensate exports raised hopes, anxieties and questions after Pioneer Natural Resources Co. (NYSE: PXD) and Enterprise Product
Partners LP (NYSE: EPD) were issued private letter rulings by the Commerce Department to export minimally refined condensate.
Sending condensate overseas likely will benefit producers. But despite the startle reflex in the market, it leaves refiners ...