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Natural Gas Futures Mount Win Streak Amid Lower Production, Impending Heat and Short Covering
Daily GPI – 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
Daily GPI – 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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SoCal Summer Premiums Ease in Recent Natural Gas Forwards Trading
Daily GPI – 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
Daily GPI – 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
Daily GPI – 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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NOV Innovating, Expanding Digital Offerings to Meet ‘Evolving Needs’ of E&P Customers
Daily GPI – 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
Daily GPI – 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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ConocoPhillips Exploring Sale of Port Arthur LNG Equity Stake Amid Broader Global Ambitions
Daily GPI – Natural Gas Intelligence May 3, 2024 | 13:14 pmConocoPhillips management confirmed Thursday that it may sell part of its 30% equity stake in the first 1.8 Bcf/d phase of Sempra Infrastructure’s Port Arthur LNG export plant under construction southeast of Houston. “With regard to Port Arthur, look, we’ve[…]
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Devon Supporting Efforts to Sanction Another Permian Natural Gas Pipe, Says CFO
Daily GPI – Natural Gas Intelligence May 3, 2024 | 13:06 pmDevon Energy Corp. is working with midstream companies to help advance a natural gas pipeline in the Permian Basin, management said Thursday. CEO Rick Muncrief and his management team hosted a conference call to discuss first quarter earnings for the[…]
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Natural Gas Futures Trade Both Sides of Even Early as Market Mulls Storage, Cooling Demand
Daily GPI – Natural Gas Intelligence May 3, 2024 | 13:01 pmNatural gas futures were close to unchanged in early trading Friday as the market continued to mull plump storage inventories and potential cooling demand upside this summer. The June Nymex contract was off 0.8 cents to $2.027/MMBtu at around 8:45[…]
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