Story of the Day

BP Canada Prepares to Drill First of Seven Deepwater Wells Offshore Nova Scotia
Daily GPI
BP Canada Prepares to Drill First of Seven Deepwater Wells Offshore Nova Scotia

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April 24, 2018

Markets

Tight Storage Picture Boosts Natural Gas Futures; Small Changes in Spot Market

Daily GPI
Natural gas futures rallied Tuesday as large storage deficits continued to lend support for prices. In the spot market, most regions saw small adjustments on moderating demand this week, while the volatile SoCal Citygate retreated from Monday’s price spike; the NGI National Spot Gas Average added 2 cents to $2.47/MMBtu.

U.S., Japan to Cooperate on LNG Projects Throughout Asia

Daily GPI
The U.S. and Japanese governments said they plan to continue their cooperation in the energy sector by providing training, financing and technical assistance to countries within the Indo-Pacific region, ostensibly to promote U.S. liquefied natural gas exports to Asia.

Weather Outlook Mixed; May Natural Gas Called Near Even

Daily GPI
May natural gas was set to open Tuesday about a penny higher at around $2.753, continuing to trade in a tight range after settling close to even Monday.

Natural Gas Futures Finish Near Even on Mix of Bearish, Bullish Signals; Spot Prices Mixed

Daily GPI
Natural gas futures traded either side of even Monday as the market continues to weigh conflicting signals from lean storage inventories and strong production. Spot prices were mixed, with New England points moderating further as SoCal Citygate spiked again; the NGI National Spot Gas Average rose 3 cents to $2.45/MMBtu.

CenterPoint, Vectren Announce Plans for $6 Billion Merger

Daily GPI
CenterPoint Energy Inc., a natural gas and electric utility based in Houston, said it plans to acquire Vectren Corp. in a deal valued at $6 billion.
Monthly-EIA-Estimated-Permian-Well-Completions-20180423.png

Halliburton Sees Demand Improving as Completions Intensity Builds Across U.S. Onshore

Shale Daily
Resilient activity in the U.S. land business between January and March helped power Halliburton Co. to...

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E&P

Weatherford’s Bottoms-Up Transformation Continues, with More Asset Sales Planned

Shale Daily
The fourth largest oilfield services operator in the world, Weatherford International plc, still has much work to do as it climbs out of a financial hole, but the revamp instituted last year has begun to take hold, the CEO said during a conference call on Tuesday.
BP-Scotian-Basin-Exploration-Project-20180424

BP Canada Prepares to Drill First of Seven Deepwater Wells Offshore Nova Scotia

Daily GPI
BP Canada Energy Group ulc has been granted operational approval for the first of seven planned deepwater exploration wells offshore...
MexBakHughes

Latin America Underwhelming in 1Q for Schlumberger, BHGE, Halliburton

Latin America weighed on the international earnings of the top three oilfield services (OFS) operators during the first quarter.
Natural-Gas-Production-in-Selected-States-20180423.png

Pennsylvania Natural Gas Production Hit Record Daily Volumes in 2017

Shale Daily
Pennsylvania natural gas production set another record last year at 15 Bcf/d, accounting for 19% of the country’s marketed natural gas production, the Energy Information Administration (EIA) said in a note on Monday.

Emerging Technologies Likely to Improve U.S. Oil, Gas Business, Say Execs

Shale Daily
U.S. oil and natural gas executives are looking to incorporate emerging technologies to improve business operations, but they do not expect artificial intelligence (AI) or automation to eliminate jobs, according to KPMG's 2018 U.S. Energy Outlook Survey.

More in E&P...

Infrastructure

Shell-Vito-Development-and-Nearby-Offshore-Assets-20180424

Shell OKs FID for Long-Awaited Vito Development in Deepwater GOM

Daily GPI
A unit of Royal Dutch Shell plc said Tuesday it is pulling the trigger to invest in Vito, a deepwater development in the Gulf of Mexico that it estimates has a forward-looking, breakeven price of less than $35/bbl.

Penn State to Help Advance Downstream Opportunities from Shell Cracker

Shale Daily
A Pennsylvania State University (Penn State) campus has been selected by the state’s top economic development organization to be a lead partner in developing the business and market opportunities created by the Shell Chemical Appalachia LLC ethane cracker under construction in Beaver County.

Minnesota ALJ Recommends Approving Controversial Enbridge Line 3 from Canada

Daily GPI
Beleaguered Canadian exporters won a verdict Monday that favors new pipeline construction across Minnesota, as long as sponsor Enbridge Inc. confines the work to replacing a half-century-old conduit inside its original route.

New York Throws Another Natural Gas Pipeline Project Into Question

Daily GPI
Transcontinental Gas Pipe Line Co. LLC vowed Monday to refile for a water quality certification for its Northeast Supply Enhancement Project after the New York State Department of Environmental Conservation denied its application.

McDermott, CB&I Move Toward Closing Merger, But Subsea 7 Making Waves

Daily GPI
Houston engineering and construction giant McDermott International Inc. announced preliminary plans as it prepares to complete a merger with crosstown CB&I on Monday only days after Subsea 7 SA launched a hostile takeover bid, but only for McDermott.

With Freeport LNG Delayed, Some Natural Gas Demand Seen Missing in 2019

Daily GPI
Freeport LNG’s delayed start-up of its liquefied natural gas (LNG) export facility now under construction on the Texas coast could have varying impacts on the broader market next year, according to analysts.

More in Infrastructure...

Regulatory

Mexico-Presidential-Election-Opinion-Polls-20180424

Forget the Gorgonzola, Mexican Officials Launch International Offensive to Defend Energy Reform

Senior Mexican officials are battening down the hatches against any signs of political turbulence in the nation's upcoming presidential election. Above all, they want to preserve the legacy of President Enrique Pena Nieto's reform program, which spelled the end to the state energy monopolies and the generation of free markets in oil, gas and power.
NGI-Shale-Daily-Marcellus-Northeast-Pennsylvania-Shale-Price-Index-20180424

Pennsylvania Severance Tax Likely Offset by State Corporate Tax Cut, Says Analysis

Shale Daily
Pennsylvania Gov. Tom Wolf’s latest proposal to implement a severance tax on natural gas...

MarkWest Fined $610K for Pennsylvania Air Emission Violations

Shale Daily
MPLX affiliates MarkWest Liberty Midstream Resources LLC and Ohio Gathering Co. LLC will perform a trio of environmental projects and pay a $610,000 civil penalty for air emission violations at natural gas facilities in eastern Ohio and western Pennsylvania through a settlement with the Department of Justice, U.S. Environmental Protection Agency and the Pennsylvania Department of Environmental Protection.

Comment Period Ends Wednesday For FERC's Pipeline Income Tax Rate NOPR

Daily GPI
Nearly a dozen utilities, state regulatory agencies and other entities have filed motions to intervene, seeking clarification or rehearing of FERC's recently proposed changes in income tax rates for natural gas pipeline companies, electric transmission and master limited partnerships (MLP).

New York Again Shuts the Door on Natural Gas, Denies Transco Expansion

Shale Daily
New York regulators are once again threatening to strand 400 MMcf/d of natural gas in Pennsylvania by denying Transcontinental Gas Pipe Line Co. LLC’s (Transco) Northeast Supply Enhancement Project a water quality certification (WQC).
NGI-Daily-GPI-PNGTS-NatGas-Price-Index-20180423

PNGTS Files with FERC for Capacity Expansions

Daily GPI
Portland Natural Gas Transmission System on Friday asked FERC for authorization to expand natural gas transportation and import/export capacity on its system in New England by winter 2018/2019.

More in Regulatory...

3D"Sign

NGI's Bidweek Alert Day 1 - April 24th for May 2018
For more detailed information please download the Excel data file
FIXED RANGE BASIS RANGE
South Texas
Agua Dulce -- --
Florida Gas Zone 1 -- --
NGPL S. TX -- --
Tennessee Zone 0 South -- -0.1175 to -0.1175
Texas Eastern S. TX -- --
Transco Zone 1 -- --
East Texas
Carthage -- --
Houston Ship Channel -- 0.09 to 0.10
Katy -- --
NGPL TexOk -- --
Tennessee Zone 0 North -- --
Texas Eastern E. TX -- -0.105 to -0.105
Transco Zone 2 -- --
West Texas/SE New Mexico
El Paso Permian 1.18 to 1.25 --
Transwestern 1.46 to 1.46 --
Waha 1.28 to 1.32 --
Midwest
Alliance -- --
ANR ML7 -- --
Chicago Citygate 2.56 to 2.63 --
Chicago - Nicor Gas 2.57 to 2.62 --
Chicago - NIPSCO 2.61 to 2.63 --
Chicago - North Shore -- --
Chicago - Peoples 2.56 to 2.60 --
Consumers Energy -- -0.09 to -0.08
Dawn -- -0.095 to -0.08
Emerson -- -0.325 to -0.30
Joliet -- --
Lebanon -- --
Michigan Consolidated -- -0.14 to -0.1175
NGPL Amarillo Mainline -- --
Parkway/Union -- --
REX into ANR - Shelby -- --
REX into MGT - Edgar -- --
REX into NGPL - Moultrie -- --
REX into PEPL - Putnam -- --
REX into Trunk - Douglas -- --
Midcontinent
ANR SW -- -0.77 to -0.77
Enable East -- -0.31 to -0.31
Enable West -- --
NGPL Midcontinent -- --
Northern Border Ventura -- --
Northern Natural Demarc 2.12 to 2.16 --
Northern Natural Ventura -- --
OGT -- --
Panhandle Eastern -- -0.75 to -0.75
Southern Star -- --
North Louisiana/Arkansas
Perryville -- --
Texas Eastern, M1, 24 -- --
Texas Gas Zone 1 -- -0.1475 to -0.1475
Trunkline Zone 1A -- -0.1825 to -0.18
South Louisiana
ANR SE -- -0.13 to -0.1225
Columbia Gulf Mainline -- -0.145 to -0.1425
Columbia Gulf onshore -- --
Florida Gas Zone 2 -- --
Henry Hub -- --
Southern Natural -- -0.06 to -0.0575
Tennessee Line 500 -- -0.06 to -0.06
Tennessee Line 800 -- -0.075 to -0.075
Texas Eastern E. LA -- -0.08 to -0.0775
Texas Eastern W. LA -- --
Texas Gas Zone SL -- --
Transco Zone 3 -- -0.04 to -0.04
Trunkline E. LA -- --
Trunkline W. LA -- --
Southeast
FGT Citygate -- --
Florida Gas Zone 3 -- --
Texas Eastern M-1, 30 -- --
Transco Zone 4 -- -0.035 to -0.035
Transco Zone 5 -- 0.0475 to 0.05
Transco Zone 5 North -- --
Transco Zone 5 South -- 0.0475 to 0.05
Appalachia
Columbia Gas -- -0.2175 to -0.20
Dominion North -- --
Dominion South -- -0.5075 to -0.48
Leidy Hub -- --
Millennium East Pool -- -0.80 to -0.79
Tenn Zone 4 200L -- -0.2975 to -0.29
Tennessee Zn 4 313 Pool -- --
Tennessee Zn 4 Marcellus -- -0.835 to -0.83
Texas Eastern M-2, 30 Delivery -- --
Texas Eastern M-2, 30 Receipt -- -0.54 to -0.54
Texas Eastern M-3, Delivery -- --
Texas Eastern M-3, Receipt -- --
Transco-Leidy Line -- -0.80 to -0.79
Northeast
Algonquin Citygate -- --
Algonquin Citygate (non-G) -- --
Algonquin Receipts -- --
Iroquois Zone 2 -- -0.15 to -0.15
Iroquois, Waddington -- --
Niagara -- --
Tenn Zone 5 200L -- --
Tenn Zone 5 300L -- --
Tenn Zone 6 200L -- --
Tenn Zone 6 300L -- --
Transco Zone 6 non-NY -- -0.21 to -0.21
Transco Zone 6 non-NY North -- -0.21 to -0.21
Transco Zone 6 non-NY South -- --
Transco Zone 6 NY -- -0.205 to -0.20
Rocky Mountains
Cheyenne Hub -- --
CIG -- --
CIG DJ Basin -- --
El Paso Bondad -- --
El Paso non-Bondad 1.66 to 1.73 --
Kern River -- --
Kingsgate -- --
Northwest S. of Green River -- --
Northwest Sumas 1.78 to 1.79 --
Northwest Wyoming Pool -- --
Opal 1.90 to 1.92 --
Questar -- --
Stanfield -- --
Transwestern San Juan 1.75 to 1.77 --
White River Hub -- --
Arizona/Nevada
El Paso S. Mainline/N. Baja -- --
Kern Delivery 2.01 to 2.05 --
California
Malin 1.92 to 1.94 --
PG&E Citygate 2.61 to 2.65 --
SoCal Citygate 2.97 to 3.00 --
Southern Border, PG&E 1.85 to 1.85 --
Southern Border, SoCal 2.00 to 2.03 --
SoCal Border Avg. 2.00 to 2.03 --
Canada
Empress -- --
NOVA/AECO C 0.76 to 0.79 --
Westcoast Station 2 -- --
NOTE: Both the buy and the sell side of transactions are counted in this table, as they are in NGI’s daily, weekly and bidweek natural gas price tables, a standard practice which supports consistency and uniformity across products as explained in our price methodology.