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Weekly Natural Gas Spot Prices, Futures Advance Amid Lighter Production, Looming Demand
Shale Daily – Natural Gas Intelligence May 3, 2024 | 22:12 pmWeekly natural gas cash prices pushed upward, supported by lower production activity and forecasts for intensifying heat. Those catalysts also bolstered futures. NGI’s Weekly Spot Gas National Avg. for the April 30-May 3 period rose 15.5 cents to $1.385/MMBtu. As[…]
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Natural Gas Futures Mount Win Streak Amid Lower Production, Impending Heat and Short Covering
Shale Daily – Natural Gas Intelligence May 3, 2024 | 21:50 pmNatural gas futures forged ahead on Friday, building on the strong gains of the prior session as production held at lighter levels and forecasters continued to call for a hot summer ahead. At A Glance: Production below 99 Bcf/d Heat[…]
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U.S. Land Oil, Gas Permitting Ticked Higher in March, but Still Off from Year Ago
Shale Daily – Natural Gas Intelligence May 3, 2024 | 20:17 pmLower 48 oil and gas permitting requests increased in March, up 26% over February, according to a compilation of federal and state data compiled by Evercore ISI. The analyst firm reported that 3,418 permits were issued in March versus 2,719[…]
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TC Energy Advances Southeast Gateway Pipeline Offshore Mexico
Shale Daily – Natural Gas Intelligence May 3, 2024 | 20:08 pmTC Energy Corp. has completed the northern portion of its Southeast Gateway natural gas offshore pipeline project that would supply underserved areas along the Yucatán Peninsula. Management for the Calgary-based pipeline giant provided updates on major projects during a first-quarter[…]
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SoCal Summer Premiums Ease in Recent Natural Gas Forwards Trading
Shale Daily – Natural Gas Intelligence May 3, 2024 | 19:48 pmAmid continued downward pressure from excess storage inventories, and with cooling demand yet to ramp up in earnest, regional natural gas forwards drifted lower during the April 25-May 1 trading period, according to NGI’s Forward Look. June fixed prices at[…]
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Three Natural Gas Rigs Exit U.S. Onshore, BKR Says
Shale Daily – Natural Gas Intelligence May 3, 2024 | 19:29 pmThe U.S. natural gas rig count slid to 102 during the week ended Friday (May 3) as three rigs were sent packing for the period, according to updated figures from oilfield services provider Baker Hughes Co. (BKR). The 102 active[…]
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Cheniere Execs See Ample Global Demand for Coming LNG Supply Wave
Shale Daily – Natural Gas Intelligence May 3, 2024 | 19:16 pmCheniere Energy Inc. expects the global natural gas market to accommodate the coming influx of LNG volumes expected to hit the water by the end of the decade as it continues to make progress on three of its own projects. […]
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Natural Gas Rallies as Cheniere CEO Reassures Market on Maintenance — MidDay Market Snapshot
Shale Daily – Natural Gas Intelligence May 3, 2024 | 18:32 pmNatural gas futures were rallying through midday trading Friday after management comments from a major U.S. LNG player assuaged market concerns that maintenance disruptions could hamper summer export demand. Here’s the latest: June Nymex futures at $2.143/MMBtu, up 10.8 cents,[…]
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NOV Innovating, Expanding Digital Offerings to Meet ‘Evolving Needs’ of E&P Customers
Shale Daily – Natural Gas Intelligence May 3, 2024 | 16:39 pmInternational land and offshore markets are driving near-term demand for NOV Inc.’s oilfield equipment, but digital and performance technologies are also in the pipeline, as exploration customers look for improved efficiencies, according to CEO Clay Williams. During the recent first[…]
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U.S. Natural Gas Generators to Face Increased Oversight Under Biden Administration Rules
Shale Daily – Natural Gas Intelligence May 3, 2024 | 16:31 pmThe Biden administration has finalized rules to slash 90% of emissions from new natural gas-fired power plants, designed in part to encourage the use of more carbon capture and sequestration (CCS). The U.S. Environmental Protection Agency (EPA) strengthened New Source[…]
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