Story of the day
Natural Gas Futures Bounce Back; August Closes Strong Run as Prompt Month on High Note
E&P
Texas E&P Activity, Employment Expanding on Strengthening Natural Gas, Oil Prices
The upstream oil and natural gas economy in Texas is finally signaling a new cycle of expansion in activity following the double-barrel contraction in 2019 and 2020, according to economic indicators. The Texas Petro Index (TPI), created and overseen by petroleum economist Karr Ingham of the Texas Alliance of Energy Producers, through June had increased…
July 28, 2021
Natural Gas Prices
U.S. Coal Market Fundamentals Said ‘Extremely Strong’ as Natural Gas Prices Soar
The coal market is witnessing a resurgence in the United States as natural gas prices skyrocket and utilities turn to coal-powered generation, according to Alliance Resource Partners LP (ARLP) CEO Joseph Craft. “Commodity prices for each of our business segments have skyrocketed to levels not experienced in several years,” Craft said as second quarter earnings…
July 28, 2021
E&P
Natural Gas, Oil Found to Support Sizeable Chunk of U.S. GDP, Including Pennsylvania
Pennsylvania’s oil and natural gas industry supported 6.1% of the total jobs and 9.7% of its gross domestic product (GDP) in 2019, according to a new study commissioned by the American Petroleum Institute (API). The industry overall supported 480,000 total jobs (102,500 direct and 377,800 indirect) and contributed $78.4 billion ($39.4 billion direct and $38.9…
July 28, 2021
E&P
Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement
Norwegian state player Equinor ASA logged lower overall U.S. oil and natural gas production in 2Q2021 primarily because of its recent Bakken Shale exit, but that decline was offset by growth in the gassy Marcellus Shale. Average daily equity production of liquids and gas was 391,000 boe/d in 2Q2021 compared with 405,000 boe/d in the…
July 28, 2021
Oil
Stockpiles of U.S. Crude Drop as Demand Mounts, Production Tapers
With output falling and demand rising, U.S. crude inventories resumed a downward trend last week, the U.S. Energy Information Administration (EIA) said Wednesday. U.S. commercial oil inventories in the week ended July 23, excluding those in the Strategic Petroleum Reserve, decreased by 4.1 million bbl from the previous week. At 435.6 million bbl, U.S. crude…
July 28, 2021
E&P
NOV’s Oilfield Technologies in Demand, but Labor Shortages and Inflationary Risks Lurk
Customers are craving the conventional and alternative energy technologies proffered by Houston’s NOV Inc., with the backlog sharply higher in the second quarter. However, CEO Clay Williams told investors Wednesday that “continuing supply chain challenges” and rising costs are a concern. Williams discussed the latest results and what he sees ahead during a wide ranging…
July 28, 2021
LNG
U.S. LNG Exports Hit New High in First Half of 2021
U.S. liquefied natural gas (LNG) exports hit record highs in the first half of 2021 as new capacity ramped to meet growing global demand. LNG exports averaged 9.6 Bcf/d in the first six months of the year, according to the U.S. Energy Information Administration. That is a stark contrast to last year when demand cratered…
July 28, 2021
Earnings
Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward
Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter. Oil production rose to 1.736 million b/d in the second quarter compared with 1.673 million b/d in the…
July 28, 2021LNG
European Natural Gas Prices Hit Record Amid Supply Crunch — The Offtake
A roundup of news and commentary from NGI’s LNG Insight European natural gas prices set records during trading Wednesday. The prompt Dutch Title Transfer Facility contract hit an all-time high and the prompt National Balancing Point hit its highest level since 2005 amid a deepening supply crunch on the continent. Japan-Korea Marker spot prices for…
July 28, 2021Recent News
Natural Gas Prices
U.S. Coal Market Fundamentals Said ‘Extremely Strong’ as Natural Gas Prices Soar
Jul 28, 2021
Markets
August Natural Gas Futures Rally Loses Steam Ahead of Expiry; Spot Prices Sputter
Jul 27, 2021Daily Gas Price Index
As one of only two price reporting agencies that include ICE trade data to determine natural gas price indexes, NGI delivers robust indexes at a competitive price.
• Daily physical spot natural gas price indexes at 170+ locations
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E&P
Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement
Norwegian state player Equinor ASA logged lower overall U.S. oil and natural gas production in 2Q2021 primarily because of its recent Bakken Shale exit, but that decline was offset by growth in the gassy Marcellus Shale. Average daily equity production of liquids and gas was 391,000 boe/d in 2Q2021 compared with 405,000 boe/d in the…
July 28, 2021Mexico Gas Price Index
Daily news and natural gas pricing information service focused on price transparency in Mexico.
• Experienced insight into Mexican regulatory requirements, process guidelines and governmental oversight
• Regular interviews with Mexico natural gas subject matter experts
• NGI-calculated cost-plus-transport pricing, as well as official IPGN pricing
Earnings
Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward
Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter. Oil production rose to 1.736 million b/d in the second quarter compared with 1.673 million b/d in the…
July 28, 2021Natural Gas Prices
August Natural Gas Futures’ Seven-Day Win Streak Snapped; Cash Called Lower
July 28, 2021Shale Daily
Impactful news and transparent pricing for shale and unconventional plays across the U.S. and Canada.
• Natural gas prices at 20+ North American shale basins and unconventional plays
• Quickly understand major factors affecting on of the world’s largest natural gas supplies
• On-the-ground news coverage of crucial market events impacting supply and demand fundamentals
E&P
Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement
Norwegian state player Equinor ASA logged lower overall U.S. oil and natural gas production in 2Q2021 primarily because of its recent Bakken Shale exit, but that decline was offset by growth in the gassy Marcellus Shale. Average daily equity production of liquids and gas was 391,000 boe/d in 2Q2021 compared with 405,000 boe/d in the…
July 28, 2021