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November Natural Gas Prices Surpass $5 Despite Mild Outlook; Cash Keeps Sliding

Coming off a steep decline over the past two trading sessions, natural gas futures attempted to regain some footing on Tuesday. A sharp drop in production aided the rebound, lifting the November Nymex gas futures contract by 9.9 cents to $5.088/MMBtu. December settled at $5.350, up 11.4 cents on the day. At A Glance: Production…

By Leticia Gonzales

October 19, 2021

LNG

Exports Have Little Impact on Rising U.S. Natural Gas Prices, CLNG Says

U.S. liquefied natural gas (LNG) exports are not to blame for the sharp spike in Henry Hub prices, according to a leading trade group. “The idea that LNG is having some outsized impact on price is mathematically impossible when we actually start to dig into this,” said Executive Director Charlie Riedl of the Center for…

October 19, 2021

Earnings

North American E&Ps Boosting Capex as Natural Gas, Oil Prices Soar, Says Halliburton CEO

North America exploration and production (E&P) companies should increase their capital spending by 20% in 2022 as they lock up equipment and labor in an ever tightening global market, Halliburton Co. CEO Jeff Miller said Tuesday. The No. 1 completions expert in North America kicked off earnings season for the oilfield services sector in an…

October 19, 2021

E&P

AGA’s Latest Resource Estimate of 3,863 Tcf Underscores U.S. Natural Gas Bounty

The estimated natural gas resource base in the United States has reached an all-time high, the American Gas Association (AGA) reported Tuesday. During a virtual AGA event, the Potential Gas Committee (PGC) stated that its year-end 2020 technically recoverable gas resource estimate — that is, in the ground but not yet recovered — totals 3,368…

October 19, 2021

Energy Transition

Canada’s North Vancouver Launching Bitcoin Heating Pilot with MintGreen in 2022

The financial market novelty substitute for fossil fuels, waste heat from Bitcoin mining, has reached southwestern British Columbia (BC). MintGreen Blockchain Innovation Corp. announced the sale of the Bitcoin byproduct to Lonsdale Energy Corp. (LEC), a district heating utility owned by the City of North Vancouver. The city’s hydronic district energy system delivers heat to…

October 19, 2021

Regulatory

Mexico Electric Power Counter Reform Vote Seen Dragging into 2022

Mexico President Andrés Manuel López Obrador has high hopes of changing the rules of the game in the electric power sector, but his proposal likely won’t be voted on in Congress until early next year as the reform is studied by legislators. The reform, if passed, would modify the constitution to eliminate upstream oil and…

October 19, 2021

Infrastructure

North Dakota Touts $2.8B GTL Plant, with Construction Starting in 2023

North Dakota has approved initial support for a $2.8 billion gas-to-liquids (GTL) plant envisioned for Trenton in Williams County, in the heart of the Williston Basin. The North Dakota Development Fund (NDDF) is providing $3 million in initial development capital to project sponsor Cerilon GTL Inc., Gov. Doug Burgum’s office said. NDDF provides flexible funding…

October 19, 2021

Permian Basin

Tech Innovations Boost Permian Oil and Natural Gas Productivity, EIA Says

Advanced technologies, such as longer lateral wells and multi-well pad drilling, are driving ongoing efficiencies and increased productivity in developing oil and natural gas resources in the prolific Permian Basin, the U.S. Energy Information Administration (EIA) said in a report Tuesday. The Permian, which spans West Texas and southeastern New Mexico, accounted for about 30%…

October 19, 2021

Energy Transition

British Columbia’s FortisBC Resumes Renewable Natural Gas Marketing Program

After a two-year pause to round up new supplies, British Columbia (BC) distribution firm FortisBC resumed as of Friday (Oct. 15) a renewable natural gas (RNG) marketing program that turned out to be a success since starting small in 2011. The organic gas program, a North American first when it began, fuels a mini-boom for…

October 19, 2021

Markets

World Natural Gas Market Under ‘Tremendous Pressure’ as Winter Nears

Moving the energy economy to net zero emissions is timely and costly, and the world now faces another dilemma: a natural gas market under “tremendous pressure” ahead of winter, the International Energy Agency (IEA) said Wednesday. In launching its annual World Energy Outlook (WEO-2021), the global energy watchdog acknowledged that winter 2021/2022 is opening with…

October 18, 2021