Texas natgas prices drop as production and pipeline constraints grow

The natural gas price in the Permian Basin in west Texas has slumped so low this year that the annual average is on track for its lowest in 19 years, pummeled by record production and pipeline constraints that also have stymied crude transport out of the region. Gas production, a byproduct of drilling in the nation's largest oilfield, has hit record highs this year, filling available space on existing pipelines and forcing mor