Story of the day
EIA Storage Report Gives Treats, Not Tricks, to Natural Gas Bulls; Cash Creeps Lower
Infrastructure
Pandemic to Weigh on Long-Term Electricity Demand, Columbia University Researchers Say
Shifts in electricity use imposed by the coronavirus pandemic could lead to long-term changes and lighter overall demand for years, according to a new report from Columbia University’s Center on Global Energy Policy. “Demand has declined, and usage patterns have been altered — changes that could remain even after the pandemic ends,” wrote researchers A.J.…
October 29, 2020
E&P
Shell Capitalizing on Energy Transition, Growing Demand for Carbon-Neutral LNG
Royal Dutch Shell plc CEO Ben van Beurden acknowledged Thursday there may be some pain associated with the share price in constricting oil and gas activities as it moves toward a carbon-free goal, but customers “increasingly” are embracing the global energy transition. Customers are calling for more carbon-neutral fuel, oil and natural gas, including for…
October 29, 2020
LNG
Cheniere, Sempra LNG Export Licenses Extended to 2050
The U.S. Department of Energy (DOE) on Wednesday extended through 2050 three long-term liquefied natural gas (LNG) export licenses to countries without free-trade agreements (FTA). The extensions were issued for two Cheniere Energy Inc. facilities, Sabine Pass LNG in Louisiana and Corpus Christi LNG in South Texas. Sempra Energy’s proposed Port Arthur LNG terminal east…
October 29, 2020
E&P
ExxonMobil Laying Off 1,900 People, Mostly in Houston Area
ExxonMobil said Thursday it plans to reduce its U.S. staffing levels by about 1,900 through “voluntary and involuntary programs.” The job cuts follow an “extensive global review announced earlier this year,” it said. The news came one day before third quarter results are scheduled to be issued. Job losses are planned “primarily at its management…
October 29, 2020
LNG
Japanese, Chinese Carbon-Neutral Plans May Impact U.S. LNG Industry
Recent announcements by the leaders of China and Japan to achieve carbon neutrality in the coming decades could initially increase demand for U.S. liquefied natural gas (LNG), but that demand could be reduced as early as 2030, analysts said. Japanese Prime Minister Yoshihide Suga on Monday said the country would aim to become a “carbon-neutral,…
October 29, 2020
Markets
E&P Mergers Creating Potential Headwind for OFS Sector, Says RPC Chief
U.S. oilfield activity has begun to tick higher from the historic lows last spring, but even stronger oil and natural gas prices are not enough to generate sustainable returns, RPC Inc. CEO Richard A. Hubbell said Wednesday. During the third quarter conference call, Hubbell said conditions have improved since bottoming in 2Q2020, but they are…
October 29, 2020
E&P
Hess Boosts Bakken Oil Production, but Maintaining Only One Rig Until WTI Prices Improve
Hess Corp. said net production from its acreage in the Bakken Shale increased substantially in the third quarter, and it expects the full-year 2020 total to exceed year-earlier levels as the company weathers the pandemic’s demand shocks. The New York City-based independent said Wednesday Bakken net production rose 21% from a year earlier to 198,000…
October 29, 2020
Earnings
SoCal Edison Power Line Possibly Sparks California’s Silverardo Wildfire
A Southern California Edison Co. (SCE) power line may have been involved in the start of a wildfire raging in a foothills portion of Orange County, officials at parent company Edison International (EI) said Tuesday. SCE earlier this week told state regulators the 11,000-acre Silverado Fire in Orange County was 5% contained, and there “was…
October 29, 2020
Infrastructure
Mayakan Open Season in Yucatán Seen as Test of Market Demand for Natural Gas Projects
The open season to test support for the Mayakan natural gas pipeline system launched by French company Engie SA, while minimal in volumes, could be a test of market demand and infrastructure needs. Engie opened bidding on the 483-mile Mayakan system earlier this week, seeking to allocate 0.755 MMcf/d of firm capacity on existing infrastructure.…
October 29, 2020Recent News
Markets
EIA Storage Report Gives Treats, Not Tricks, to Natural Gas Bulls; Cash Creeps Lower
Oct 29, 2020
Infrastructure
Mayakan Open Season in Yucatán Seen as Test of Market Demand for Natural Gas Projects
Oct 29, 2020
Infrastructure
Pandemic to Weigh on Long-Term Electricity Demand, Columbia University Researchers Say
Oct 29, 2020
Daily Gas Price Index
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Markets
Natural Gas Futures Nearly Erase Early Losses after EIA Reports Paltry 29 Bcf Storage Injection
The U.S. Energy Information Administration (EIA) reported a much smaller-than-expected 29 Bcf injection into natural gas storage inventories for the week ending Oct. 23, quickly trimming early losses at the front of the Nymex futures curve. The reported build compares with last year’s 89 Bcf injection and the five-year average build of 67 Bcf. The…
October 29, 2020Markets
December Natural Gas Slides Ahead of EIA Report as Lower 48 Production Seen Recovering
October 29, 2020Markets
Enterprise Says Petchem Demand Robust, Forecasts Possible Oil Price Rebound Later in 2021
October 28, 2020Mexico 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
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Earnings
Matador Not Looking for Merger, but Any ‘Serious Offer’ Gets ‘Serious Consideration’
Dallas-based independent Matador Resources Co., in sync with its midstream affiliate, pulled out all stops in the third quarter by reducing costs at a record rate while it boosted its oil and natural gas production. The portfolio stretches across oil- and natural gas-rich basins of Louisiana and Texas, but operations primarily are directed to the…
October 28, 2020Earnings
Pemex Betting on Priority Fields as Oil, Gas Production Barely Budges in 3Q
October 28, 2020Shale Daily
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Regulatory
ConocoPhillips Wins Key Approval for Willow Project in Alaska
ConocoPhillips’ Alaska division won an important approval this week from the Interior Department’s Bureau of Land Management (BLM), clearing the path for construction of the long-planned Willow project. Located within the Bear Tooth Unit of the National Petroleum Reserve in Alaska, the Willow project could produce up to 160,000 b/d, with a processing capacity of…
October 28, 2020Markets