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July Natural Gas Futures Stumble as Weak Weather Demand Prevents Progress; Spot Prices Recover
Daily GPI – Natural Gas Intelligence May 30, 2023 | 22:02 pmNatural gas futures started the new week as they finished the last – comfortably in the red. Amid mild weather and modest cooling demand, the July Nymex gas futures contract on Tuesday fell 9.0 cents day/day and settled at $2.327/MMBtu.[…]
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ConocoPhillips Taking Full Ownership of Canada’s Surmont for $3B
Daily GPI – Natural Gas Intelligence May 30, 2023 | 19:36 pmConocoPhillips will raise its profile in the top rank of Canadian natural gas users, the Alberta oilsands, by way of its purchase of a bitumen underground extraction asset for about $3 billion. The Houston-based firm exercised its contractual right to[…]
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Shell Agrees to Pay $10M Air Pollution Fine at Pennsylvania Ethane Cracker
Daily GPI – Natural Gas Intelligence May 30, 2023 | 19:31 pmAn affiliate of Shell plc has agreed with state regulators to pay $10 million for a fine and environmental projects in Western Pennsylvania after the company admitted to exceeding emissions limits at its massive ethane cracker outside of Pittsburgh. Under[…]
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Congress Ready to Rescue MVP from Quagmire as Debt Deal Takes on Permitting Reform
Daily GPI – Natural Gas Intelligence May 30, 2023 | 16:36 pmIn what could mark a major turning point in the Mountain Valley Pipeline’s (MVP) arduous permitting journey, Congress is set to legislate approval of the project’s perpetually contested permits as part of an agreement to raise the debt ceiling. The[…]
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Paloma Sells Package of Gulf Coast Oil, Natural Gas Wells to Pompano
Daily GPI – Natural Gas Intelligence May 30, 2023 | 16:31 pmPompano Resource Transformation has acquired some oil and natural assets in the Gulf Coast region, including 33 wells, from Houston-based Paloma Natural Gas LLC. The acquisition is Pompano’s first upstream investment, X Machina Capital Strategies (XCM) President Catherine Flax said.[…]
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Natural Gas Eyed as ‘Multi-Decade’ Investment for LNG Exports, Low-Carbon Transition
Daily GPI – Natural Gas Intelligence May 30, 2023 | 13:24 pmSponsoring U.S. natural gas projects will be a solid bet for years to come as overseas demand grows, and as the fuel supports the energy transition, according to private equity (PE) investors. At the Enverus Evolve conference held in mid-May,[…]
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Spire Expanding Reach with Missouri’s MoGas Interstate Natural Gas Purchase
Daily GPI – Natural Gas Intelligence May 30, 2023 | 13:18 pmSpire Inc. is expanding its portfolio of natural gas infrastructure with a $175 million deal to buy the 263-mile MoGas Pipeline LLC, an interstate system in Missouri. MoGas, owned by CorEnergy Infrastructure Trust Inc., interconnects with Omega Pipeline Co. LLC’s[…]
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Natural Gas Bulls ‘Running Out of Room’ as Futures Continue to Slide Early
Daily GPI – Natural Gas Intelligence May 30, 2023 | 13:01 pmContinued mild temperatures in the outlook had natural gas futures trading lower to test technical support early Tuesday. The July Nymex contract was down 7.1 cents to $2.346/MMBtu at around 8:45 a.m. ET. The June Nymex contract expired Friday at[…]
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Listless Demand Sends Natural Gas Futures Lower Fifth Time in Six Sessions; Cash Prices Cascade
Daily GPI – Natural Gas Intelligence May 26, 2023 | 21:33 pmNatural gas futures on Friday fell a second consecutive day and for the fourth time in a dismal week for bulls. Elusive demand – both domestic weather-driven consumption and lower calls for LNG – intersected with strong production levels to[…]
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Some U.S. E&Ps Said Far Ahead of Others in Cutting Oil, Natural Gas Emissions
Daily GPI – Natural Gas Intelligence May 26, 2023 | 19:21 pmU.S. oil and natural gas producers cut methane and overall greenhouse gas (GHG) intensity significantly in 2021, according to the latest analysis of publicly available data by the Clean Air Task Force (CATF) and its partners. The intensity of both,[…]
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