Story of the day
Even at $4.00, Higher Natural Gas Prices Needed, Says Raymond James
E&P
Whale of Oil, Gas Reserves Forecast to Flow by 2024 as Shell Sanctions Deepwater GOM Field
Shell Offshore Inc. on Monday pulled the trigger to develop Whale, its 12th deepwater host in the Gulf of Mexico (GOM), which could see peak production of 100,000 boe/d. The Alaminos Canyon field in Block 773, about 200 miles southwest of Houston, was discovered in 2017. The Royal Dutch Shell plc subsidiary operates the field…
July 27, 2021
Earnings
Precision’s Canada Rig Count Usurps 2019 Levels, with U.S. E&P Demand Emerging
Precision Drilling Corp., whose operations extend across Canada, the Lower 48 and overseas, is running more rigs today than in the pre-pandemic days of 2019, with activations now underway, according to CEO Kevin Neveu. Speaking to investors during the 2Q2021 conference call, Neveu said the Calgary-based oilfield services giant delivered higher-than-expected revenue during 2Q2021. In…
July 27, 2021
Markets
Volatility Expected Ahead of Expiry as Natural Gas Futures Slide on Cooling Demand Losses
Further declines in projected cooling demand in the latest forecasts pressured natural gas futures lower in early trading Tuesday, although analysts were predicting volatility heading into this week’s front month expiration. As of 8:45 a.m. ET, the August Nymex contract was down 8.2 cents to $4.020/MMBtu, while September was off 8.3 cents to $3.999. After…
July 27, 2021
Regulatory
Restoration Proposed for ACP, SHP Lands May Avoid Significant Impacts, Says FERC Staff
Projects to restore lands proposed by the sponsors of the scuttled Atlantic Coast Pipeline (ACP) and Supply Header Project (SHP) appear to avoid or reduce impacts to less than significant levels, FERC staff has determined. Dominion Energy and joint venture partner Duke Energy last year canceled the 600-mile, 1.5 Bcf/d ACP, designed to run from…
July 26, 2021
LNG
Heat, Supply Disruptions Send Global Natural Gas Prices Higher — LNG Recap
Global natural gas prices climbed higher Monday amid supply disruptions and sweltering heat. Gains for the Henry Hub contract led the way, as the U.S. benchmark traded near a three-year high Monday with the hottest weather of the summer in the United States on the way Tuesday. Henry Hub picked up where it left off…
July 26, 2021
Regulatory
Energy Transfer Rapped by PHMSA over ‘Probable’ Safety Violations on DAPL
Midstream giant Energy Transfer LP said it is continuing work to correct alleged safety violations on its Dakota Access Pipeline (DAPL) after federal regulators warned last week it could face fines if the issues are not resolved. Energy Transfer told NGI’s Shale Daily on Monday that the notice issued last week by the Pipeline and…
July 26, 2021
LNG
Chart Industries Optimistic on U.S. LNG, Reports Record Orders for Third Straight Quarter
Chart Industries Inc. CEO Jill Evanko expressed optimism on Thursday that up to four large U.S. liquefied natural gas (LNG) export projects could be sanctioned early next year following a flurry of activity in the past two months. Evanko said she was “very bullish on one to four U.S. Gulf Coast export projects that already…
July 26, 2021
Earnings
Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports
Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…
July 26, 2021
E&P
Baker Hughes Bullish on Global Natural Gas Market; Investment in Energy Transition Continues
Baker Hughes Co. (BKR) has made investment in “new energy frontiers” a key part of its strategy moving forward, but management for the oilfield services provider still sees a bright outlook for the global natural gas market. Remarking on the company’s recently released 2Q2021 financial results, CEO Lorenzo Simonelli struck an optimistic tone when discussing…
July 23, 2021Recent News
Energy Transition
Tenaska, ARI and Chabina Join Navigator CO2 to Advance Heartland CCS Pipeline Project
Jul 27, 2021
Earnings
Precision’s Canada Rig Count Usurps 2019 Levels, with U.S. E&P Demand Emerging
Jul 27, 2021
Regulatory
Restoration Proposed for ACP, SHP Lands May Avoid Significant Impacts, Says FERC Staff
Jul 26, 2021
Earnings
Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports
Jul 26, 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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Natural Gas Prices
Even at $4.00, Higher Natural Gas Prices Needed, Says Raymond James
Natural gas prices crested the $4.00/MMBtu mark last week, and though the gains may have come quickly, price may need to be higher to incentivize more coal in power generation to help balance the market, according to Raymond James & Associates Inc. Coal’s share of the power generation stack would have to increase by more…
July 27, 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
Natural Gas Prices
August Natural Gas Futures, Cash Prices Surge Again
Natural gas futures on Monday advanced for a seventh consecutive session as robust domestic cooling demand and strong liquefied natural gas (LNG) export levels continued to drive up prices that are at their highest levels since 2018. The August Nymex contract advanced 4.2 cents day/day and settled at $4.102/MMBtu. The prompt month gained nearly 11%…
July 27, 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
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Energy Transition
Tenaska, ARI and Chabina Join Navigator CO2 to Advance Heartland CCS Pipeline Project
Tenaska and two more companies plan to collaborate with Navigator CO2 Ventures LLC to advance a unique carbon sequestration system across five Midwest states. Navigator said it has contracts in hand with Tenaska, Advanced Resources International (ARI) and Chabina Energy Partners LLC to progress the carbon dioxide (CO2) storage pipeline, aka the Heartland Greenway System. …
July 27, 2021Earnings