Story of the day
Tellurian ‘Adapts’ Driftwood LNG Plans on Heels of Covid-19
Natural Gas Prices
‘Trapped’ May Nymex Natural Gas Contract Fails to Budge Again; Cash Closes Week Lower
Natural gas futures action was quiet on Friday, with traders content leaving their positions intact amid little fresh news to drive prices one way or the other. The May Nymex gas futures contract closed the week at $2.526, up only four-tenths of a cent from Thursday’s close. June slipped two-tenths of a cent to $2.605.…
April 9, 2021
M&A
U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says
Consolidation in the U.S. upstream sector slowed to a relative crawl in the first quarter after rallying late in 2020. But there have been signs of increased activity in April and potential catalysts for more deals as the year wears on, according to an Enverus analysis. The oil and gas analytics company’s summary of 1Q2021…
April 9, 2021
Markets
‘Above-Average’ Atlantic Hurricane Season Forecast, with Strong Probability for U.S. Landfall
Four major hurricanes are forecast to storm through the Atlantic Basin this year, with at least one likely making landfall on the U.S. coastline, according to meteorologists at Colorado State University (CSU). “We anticipate an above-average probability for major hurricanes making landfall along the continental United States coastline and in the Caribbean,” said CSU forecasters…
April 9, 2021
Markets
Column: Mexico’s Natural Gas Market Showing its Strength Amid Threats to Investment
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Prud’homme was central to the development of Cenagas, the nation’s natural gas pipeline operator, an entity formed in 2015 as part of…
April 9, 2021
Markets
Low Spring Demand Takes Toll on Weekly Natural Gas Prices; Futures Quiet Too, but Stronger Pricing Looms
Picture-perfect weather across the country sank spot gas prices for the April 5-9 week, with markets on the East Coast leading the way with the steepest losses in the Lower 48. NGI’s Weekly Spot Gas National Avg. ultimately fell 15.0 cents week/week to average $2.250. Nymex futures were far less volatile, aside from the start…
April 9, 2021LNG
Maintenance Underway on All Corpus Christi LNG Trains — The Offtake
A roundup of news and commentary from NGI’s LNG Insight Maintenance began on all three trains at Cheniere Energy Inc.’s Corpus Christi LNG export terminal on Thursday (4/8) and is scheduled to last until 7 a.m. CT Saturday (4/10), according to a filing with the Texas Commission on Environmental Quality. U.S. feed gas deliveries dropped…
April 9, 2021
E&P
U.S. Adds Two Rigs Overall Amid Land Gains, Offshore Declines
With gains on land offsetting a pullback in Gulf of Mexico activity, the U.S. rig count added two units to finish the week ended Friday (April 9) at 432, according to the latest figures published by oilfield services provider Baker Hughes Co. (BKR). Two natural gas-directed rigs were added during the week in the United…
April 9, 2021
E&P
Bonanza Creek Moderating DJ Well Completions to Optimize HighPoint Takeover
With its takeover of fellow Colorado pure-play HighPoint Resources Corp. now complete, Bonanza Creek Energy Inc. is looking to optimize the combined well completions and midstream gathering needs, according to CEO Eric Greager. Bonanza Creek completed its merger with HighPoint on April 1. The closing allows the Denver-Julesburg (DJ) Basin operator to revamp the overall…
April 9, 2021
Infrastructure
PG&E Facing 33 Charges Related to 2019 Kincade Wildfire in Northern California
San Francisco-based Pacific Gas and Electric Co. (PG&E) is facing 33 criminal charges for the 2019 Kincade Fire in Sonoma County, CA, which damaged close to 78,000 acres and injured six firefighters. Sonoma County District Attorney Jill Ravitch filed the charges after state officials determined PG&E equipment sparked the fire northeast of Geyserville in Northern…
April 9, 2021Recent News
Natural Gas Prices
‘Trapped’ May Nymex Natural Gas Contract Fails to Budge Again; Cash Closes Week Lower
Apr 9, 2021
Natural Gas Prices
Natural Gas Forwards Slide Amid ‘Sleepy Shoulder Season,’ but Fundamentals ‘Still Look Solid’
Apr 9, 2021
Natural Gas Prices
EIA Storage Data Fails to Move Natural Gas Price Needle, but Bullish Momentum Expected Soon
Apr 9, 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
• News and analysis of key market events
• Daily breakdown of physical market natural gas price activity
Markets
Overall Forecast Themes Unchanged as Natural Gas Futures Steady Early
Natural gas futures were trading close to even early Friday amid no major changes to the weather outlook overnight, while analysts continued to mull the implications of the latest government inventory data. The May Nymex contract was up 1.2 cents to $2.534/MMBtu at around 8:50 a.m. ET. The U.S. Energy Information Administration (EIA) on Thursday…
April 9, 2021Energy Transition
Oxy, Cemvita Piloting Bio-Ethylene Process to Reduce CO2, Compete with Hydrocarbon Feedstocks
April 8, 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
E&P
Mexico’s Pemex Aiming for 15% Increase in Natural Gas Production in 2021
Mexican state oil company Petróleos Mexicanos (Pemex) is forecasting a base-case scenario increase of natural gas production to 4.19 Bcf/d in 2021 from 3.64 Bcf/d realized in 2020, according to its newly released 2021-2025 business plan. For 2022, Pemex sees production reaching 4.39 Bcf/d before dropping to 4.1 Bcf/d in 2023 and 3.94 Bcf/d in…
April 7, 2021NGI All News Access
Natural Gas Hits Technical Resistance, Erases Early Gains; Cash Up Slightly
April 7, 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
Markets
Warm April Sinks Natural Gas Forward Prices, but Bullish Momentum Seen Building
A major revision in the April weather forecast coming back from the Easter weekend took a big chunk out of natural gas forward prices for the period ending April 8. The short work week ended with the May contract down an average 10.0 cents and the balance of summer (May-October) off 7.0 cents, according to…
April 8, 2021Natural Gas Prices
Subdued Production Should Support Oil, Natural Gas Prices in 2021, Moody’s Says
April 8, 2021Energy Transition