Story of the Week

E&P Ingenuity Elevates U.S. as ‘Undisputed Leader’ for Global NatGas, Oil, Says IEA
NGI Weekly Intel
The resilience of U.S. unconventional natural gas and oil from shale and tight resources has cemented... Read More
Oil-and-gas-production-in-the-united-states-20171114

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NGI Weekly Newsletter

November 20, 2017

House Tax Reform Bill Preserves IDCs, Repeals EOR Credits

House Republicans mustered enough support from the ranks to pass a $1.4 trillion bill for comprehensive tax reform Thursday, while the Senate Finance Committee held a marathon hearing to debate its plan.

NatGas Facing Stiffer Competition Under PJM Reform Proposal

PJM Interconnection this week unveiled a proposal to reform wholesale electricity pricing that it claims would better reflect the “true costs” of producing power and keep its system more reliable by solidifying revenues for faltering baseload nuclear and coal generators that have been undermined by low natural gas prices.

Fraud, Market Manipulation to Remain Focus of FERC’s OE in FY2018

FERC's Office of Enforcement saw an increase in litigation activities in fiscal year 2017, while also continuing with its ongoing investigative, audit, surveillance and market oversight responsibilities, according to the2017 Report on Enforcement released Thursday.
Valley-Lateral-Project-20170726

FERC Denies New York Appeal Over Valley Lateral Project; Court Agrees to Hear Arguments

A regulatory turf war between FERC and New York officials regarding the Valley Lateral Project to carry Marcellus Shale natural gas...
Annual-Helmerich-and-Payne-HP-Capital-Expenditures-20171116

Helmerich & Payne’s U.S. Land Activity Hits Zenith During Fiscal 2017, Says CEO

U.S. land operations for contract driller Helmerich & Payne Inc. are hitting on all cylinders, with the onshore market share up 5% from a year ago, the Tulsa operator said Thursday.

Anadarko Gearing 85% of 2018 Capex to U.S. Onshore, Deepwater GOM

Anadarko Petroleum Corp. is taking another big bet on the U.S. onshore and deepwater during 2018, earmarking 85% of its planned $4.2-4.6 billion capital investments to domestic programs.

Backlog From FERC's Quorumless Days Cleared, Chatterjee Says

While a few technical items must still be addressed, Chairman Neil Chatterjee on Thursday declared the backlog of cases that built up during FERC's recent no-quorum period cleared following the unanimous approval of a lengthy consent agenda.
Monthly-Bakken-NatGas-Production-and-Percent-Flared-20171116.png

North Dakota NatGas Flaring Rises, Production Declines in September

North Dakota’s Bakken Shale soon will need more infrastructure to expand natural gas capture processes...

Rex Energy Ramping Production to Hit Year-End Exit Rate

Operating efficiencies that allowed earlier than expected turn-in-lines during the third quarter helped Rex Energy Corp. beat guidance for the period and have the company on track to meet its year-end exit rate production growth target of 15-20%. 

SandRidge, Bonanza Creek Tie-Up Builds Rockies, Midcon Inventory

U.S. unconventional producers SandRidge Energy Inc. and Bonanza Creek Energy Inc. have agreed to merge, building their Rocky Mountain and Midcontinent fortunes in a cash-and-stock transaction valued at close to $750 million.
Monthly-Anadarko-Basin-Oil-Production-and-Drilling-Rig-Count-20171115

Chaparral Energy Continues Moves Toward Pure-Play STACK Operations

While still leaking some red ink, Oklahoma City-based Chaparral Energy Inc.'s management reaffirmed Tuesday that the company intends to...

NGTL Forecasting Growing Canadian LNG Exports

Canadian efforts to break into the global liquefied natural gas trade still have a chance to make a late but strong start, according to the pipeline partner in the stalled export campaign.

Transco Files FERC Application for Gateway Expansion Project

Transcontinental Gas Pipe Line Co. has filed at FERC for a certificate of public convenience and necessity authorizing it to construct and operate its Gateway Expansion Project in New Jersey.

Senate Committee Approves ANWR Drilling Proposal

After more than three hours of debate, lawmakers on the Senate Energy and Natural Resources Committee voted 13-10 in favor of a proposal to open a portion of the Arctic National Wildlife Refuge to oil and gas development.

Trilateral Oil, NatGas Cooperation Called Paramount at North American Energy Ministerial

Energy Secretary Rick Perry on Tuesday said he expects Mexico and Canada will join the United States in drafting a revamped North American Free Trade Agreement (NAFTA) to incorporate cooperation for the continent’s burgeoning natural gas and oil trade.
Blaine-County-Oklahoma-Active-Unconventional-Oil-and-Gas-Wells-by-Operator-20171115

Devon Puts Faith in Record STACK Well in Lower Meramec

Devon Energy Corp. is claiming the highest output of any well to date within one of Oklahoma’s stacked reservoirs, a Lower Meramec well that achieved a peak 24-hour rate of 5,100 boe/d.

Linn Goes Debt-Free, Plans Additional Divestitures Before Year's End

Linn Energy Inc. said it has eliminated all of its outstanding debt after selling more than $1.5 billion in assets so far this year, and plans to conduct additional divestitures in the Permian Basin, Utah and Oklahoma before the end of the year.
US-Natural-Gas-Pipeline-Projects-with-Post-2017-Expected-In-Service-Dates-20171114

DOJ Vows to Prosecute Protesters Who Damage Pipelines

The Department of Justice said it would prosecute anyone responsible for damaging the nation's oil and natural gas pipelines, three weeks after 84 House lawmakers posed a series of questions in a letter to Attorney General Jeff Sessions over destruction by demonstrators.

Cheniere Overcomes Harvey Setbacks in 'Tremendous' 3Q2017

Houston-based Cheniere Energy Inc. saw its revenues nearly triple and the liquefied natural gas export business boom in 3Q2017, with progress made at both the Sabine Pass and Corpus Christi facilities, despite the impacts of Hurricane Harvey, CEO Jack Fusco said Tuesday.
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Led by Texas, U.S. Land Permitting at Multi-Year High, Says Evercore

U.S. land permitting is off to a hot start in November, standing at 2,106 as of last Friday (Nov. 10), but a seasonal slowdown may temper...

IEnova’s $500M Los Ramones II Pipeline Deal Receives Mexico Competition Regulator Green Light

Mexican competition authorities have cleared a $500 million deal by Sempra Energy’s local subsidiary to increase its stake in the Los Ramones II Norte natural gas pipeline, the company said last week.
Oil-and-Gas-Production-in-the-United-States-20171114

E&P Ingenuity Elevates U.S. as ‘Undisputed Leader’ for Global NatGas, Oil, Says IEA

The resilience of U.S. unconventional natural gas and oil from shale and tight resources has cemented...
EIA-NatGas-Production-20171113.png

Production Out of Unconventional Plays to End Year on High Note, EIA Says

Natural gas and oil production from the nation's seven most prolific onshore unconventional plays will increase by an estimated 1.3% in December compared to November, marking the 12th consecutive month of upswing, according to the Energy Information Administration (EIA).
Estimated-L48-Weekly-NatGas-Storage-Injection-Withdrawal-20171110

Winter At Last! Plunging Temps Sent NatGas Forwards Surging Last Week

Natural gas forwards markets shot up an average 25 cents between Nov. 3 and 9 as all the hype about an approaching cold front came to fruition late in the week, sending temperatures plunging to near-record lows, according to NGI’s Forward Look.

Value of Ohio Oil, NatGas Increased Sharply in 2016

The combined value of Ohio’s oil and natural gas production last year increased significantly to more than $4.2 billion, up from $2.97 billion in 2015, according to an annual mineral industries report released last week by the Ohio Department of Natural Resources Division of Geological Survey.
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Energy Transfer Well-Positioned For Potential Waha Basis Blowout

Basis differentials at the Waha Hub, situated at the heart of the Permian Basin, could...

Mexico’s Tender to Hire Oil, NatGas Marketer for PSAs Falls on Deaf Ears

Companies passed on Mexico’s first tender to hire a marketer for the oil and natural gas output that the government receives from operators with production-sharing agreements.
Alaska-LNG-Project-20171113

Alaska LNG Export Project Draws Vietnamese Support

Alaska Gasline Development Corp. picked up more potential backing for its long-stalled liquefied natural gas export project...

ConocoPhillips Focused on Returns, to Spend $5.5B on Capex Annually Through 2020

ConocoPhillips expects to grow oil and natural gas production by 5% and spend $5.5 billion a year on capital expenditures (capex) through 2020, but executives said the company could maintain flat production, including in the U.S. onshore, to leave room for dividends in case oil prices decline.

Gulf Coast Exporters Talk Up LNG, Ethane Sales to China

U.S.-based energy companies this week announced billions of potential investments from Chinese firms that would not only ensure financing to develop domestic natural gas but also the wherewithal to export more gas and ethane products to the fastest growing market in the world.

NatGas Pipeline Revenues Flat for Third Straight Year in 2016, Analysts Say

Natural gas pipeline revenues remained flat at $22.4 billion in 2016, but gross margins increased slightly to 70%, according to analysts who recently reviewed FERC's 2016 natural gas pipeline database.
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U.S. Rig Count Bounces Back, Adds Nine on Oil Gains in Permian, SCOOP/STACK

After more than a month of retrenchment, the U.S. rig count bounced back for the week ended Friday on growth in oil-focused activity in the Permian and Midcontinent, according to data from Baker Hughes Inc.
Monthly-Mexico-Land-Oil-and-Gas-Drilling-Rig-Count-20171109

Mexico Officials Hope Third Time’s A Charm on Planned Round Three Unconventionals Auction

Mexican authorities are planning a third attempt to auction several blocks of unconventional...
Extraction-Oil-and-Gas-DJ-Basin-Acreage-20171110

Extraction Ready to Exploit More DJ Acreage

With a development agreement secured with Broomfield, CO, Denver-based Extraction Oil & Gas Inc. stands ready...

3D"Sign

NGI's Bidweek Alert Day 1 - November 22 for December 2017
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 -- -0.155 to -0.155
Texas Eastern S. TX -- --
Transco Zone 1 -- -0.0925 to -0.09
East Texas
Carthage -- --
Houston Ship Channel -- -0.10 to -0.10
Katy -- --
NGPL TexOk -- -0.165 to -0.165
Tennessee Zone 0 North -- --
Texas Eastern E. TX -- --
Transco Zone 2 -- --
West Texas/SE New Mexico
El Paso Permian 2.41 to 2.45 --
Transwestern 2.48 to 2.48 --
Waha 2.45 to 2.49 --
Midwest
Alliance -- --
ANR ML7 -- --
Chicago Citygate 3.01 to 3.05 --
Chicago - Nicor Gas 3.01 to 3.02 --
Chicago - NIPSCO 3.02 to 3.05 --
Chicago - North Shore -- --
Chicago - Peoples 3.01 to 3.01 --
Consumers Energy -- 0.005 to 0.005
Dawn 3.08 to 3.09 0.13 to 0.1425
Emerson -- -0.065 to -0.06
Joliet -- --
Lebanon -- --
Michigan Consolidated 2.91 to 2.92 -0.055 to -0.045
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 -- --
Enable East -- --
Enable West -- --
NGPL Midcontinent -- -0.32 to -0.32
Northern Border Ventura -- --
Northern Natural Demarc 2.91 to 2.93 --
Northern Natural Ventura 2.92 to 2.95 --
OGT 2.46 to 2.47 --
Panhandle Eastern -- -0.40 to -0.40
Southern Star -- --
North Louisiana/Arkansas
Perryville -- --
Texas Eastern, M1, 24 -- --
Texas Gas Zone 1 -- --
Trunkline Zone 1A -- -0.13 to -0.125
South Louisiana
ANR SE -- --
Columbia Gulf Mainline -- -0.125 to -0.12
Columbia Gulf onshore -- --
Florida Gas Zone 2 -- --
Henry Hub -- --
Southern Natural -- --
Tennessee Line 500 -- -0.085 to -0.085
Tennessee Line 800 -- -0.10 to -0.10
Texas Eastern E. LA -- --
Texas Eastern W. LA -- -0.10 to -0.10
Texas Gas Zone SL -- --
Transco Zone 3 -- --
Trunkline E. LA -- --
Trunkline W. LA -- --
Southeast
FGT Citygate -- --
Florida Gas Zone 3 -- --
Texas Eastern M-1, 30 -- --
Transco Zone 4 -- --
Transco Zone 5 -- --
Transco Zone 5 North -- --
Transco Zone 5 South -- --
Appalachia
Columbia Gas -- -0.1975 to -0.195
Dominion North -- --
Dominion South -- -0.70 to -0.5975
Leidy Hub -- --
Millennium East Pool -- -0.77 to -0.69
Tenn Zone 4 200L -- -0.34 to -0.33
Tennessee Zn 4 313 Pool -- --
Tennessee Zn 4 Marcellus -- -0.88 to -0.78
Texas Eastern M-2, 30 Delivery -- --
Texas Eastern M-2, 30 Receipt -- -0.63 to -0.58
Texas Eastern M-3, Delivery -- -0.01 to 0.06
Texas Eastern M-3, Receipt -- --
Transco-Leidy Line -- -0.80 to -0.72
Northeast
Algonquin Citygate -- 2.55 to 2.60
Algonquin Citygate (non-G) -- 2.55 to 2.60
Algonquin Receipts -- --
Iroquois Zone 2 -- --
Iroquois, Waddington -- --
Niagara -- --
Tenn Zone 5 200L -- --
Tenn Zone 5 300L -- --
Tenn Zone 6 200L -- 2.90 to 3.00
Tenn Zone 6 300L -- --
Transco Zone 6 non-NY -- 0.49 to 0.49
Transco Zone 6 non-NY North -- 0.49 to 0.49
Transco Zone 6 non-NY South -- --
Transco Zone 6 NY -- 0.95 to 0.95
Rocky Mountains
Cheyenne Hub -- --
CIG -- --
CIG DJ Basin -- --
El Paso Bondad -- --
El Paso non-Bondad 2.52 to 2.53 --
Kern River 2.76 to 2.78 --
Kingsgate -- --
Northwest S. of Green River 2.66 to 2.68 --
Northwest Sumas 3.15 to 3.23 --
Northwest Wyoming Pool -- --
Opal 2.75 to 2.77 --
Questar -- --
Stanfield 2.83 to 2.83 --
Transwestern San Juan -- --
White River Hub -- --
Arizona/Nevada
El Paso S. Mainline/N. Baja -- --
Kern Delivery 3.30 to 3.32 --
California
Malin 2.81 to 2.82 --
PG&E Citygate 3.05 to 3.11 --
SoCal Citygate 5.50 to 5.87 --
Southern Border, PG&E -- --
Southern Border, SoCal 3.28 to 3.35 --
SoCal Border Avg. 3.28 to 3.35 --
Canada
Empress -- --
NOVA/AECO C 1.90 to 1.94 --
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.