Earnings

Canada’s largest natural gas producer, Tourmaline Oil Corp., is using hedging and a diversified marketing strategy to counteract low prices for the commodity in Western Canada, management said.  CEO Michael Rose hosted a conference call to discuss first quarter earnings for Tourmaline, which operates in the Alberta Deep Basin, the Montney Shale and the Peace…

Regulatory

The European Commission (EC) this week is considering a ban on transshipments or re-exports of Russian LNG through European Union (EU) ports as part of Brussels’ latest sanctions package.  The UK, Poland, Estonia, Latvia, Lithuania, and Germany have banned Russian liquified natural gas imports, but an EU-wide ban on Russian LNG imports is not included…

Natural Gas Prices

The U.S. Energy Information Administration (EIA) is projecting a Henry Hub natural gas spot price average at $2.20/MMBtu for 2024, unchanged from the average price the agency modeled a month earlier.  In the May release of its Short-Term Energy Outlook (STEO), published Tuesday, EIA said it expects Henry Hub spot prices to average $3.10 for…

Infrastructure

As Mountain Valley Pipeline LLC (MVP) seeks to conclude a protracted construction phase and enter service this month, the developer recently experienced a setback in Virginia when a section of pipe ruptured during hydrostatic testing. The incident, which occurred last Wednesday on the MVP mainline in Roanoke County, VA, saw water escape through the rupture;…