Andrew Baker

Oil producers in North Dakota’s Bakken Shale are facing the lowest natural gas prices in nearly three decades, according to the state’s top regulator.  Department of Mineral Resources (DMR) Director Lynn Helms addressed the issue during a recent press conference. The price of natural gas delivered to the Northern Border pipeline system at Watford City,…

Federal regulators have approved a three-year extension for Tellurian Inc.’s Driftwood LNG export facility to begin operations, determining the Houston-based firm has demonstrated due diligence to complete the project, in light of the Covid-19 pandemic.  During the recent open meeting, FERC authorized an extension through April 18, 2029 for the proposed liquefied natural gas export…

The U.S. Federal Energy Regulatory Commission (FERC) on Thursday approved Oneok Inc.’s proposed 2.8 Bcf/d Saguaro Connector natural gas pipeline, which would transport Permian Basin supply to the U.S.-Mexico border. The pipeline would transport gas to Mexico Pacific Ltd.’s Saguaro Energía LNG export plant envisioned for Puerto Libertad, Sonora, located on the country’s west coast. …

ConocoPhillips’ LNG offtake interests in planned Mexico and U.S. liquefaction terminals should not be affected in the near term by a pause on federal approvals for new export capacity, executives said. The Biden administration’s current freeze on authorizations for new liquefied natural gas exports to non-free trade agreement (FTA) countries is “unfortunate” and “clearly more…

Haynesville Shale pure-play Comstock Resources Inc. is pumping the brakes on natural gas drilling and shareholder distributions because of low commodity prices. “In response to weak natural gas prices, Comstock plans to suspend its quarterly dividend until natural gas prices improve,” management said. “In addition, the company plans to reduce the number of operating drilling…

Diamondback Energy Inc. is merging with privately held Endeavor Energy Resources LP to create a Permian Basin juggernaut in a $26 billion cash and stock transaction, the companies said Monday. Upon joining forces, the two Midland, TX-based independents would boast about 830,000 net acres and 816,000 boe/d of combined net production. The merger, expected to…

ConocoPhillips’ LNG business should not be affected in the near term by a freeze on federal approvals for new export capacity, executives said Thursday. The Biden administration’s current pause on authorizations for new liquefied natural gas exports to non-free trade agreement (FTA) countries is “unfortunate” and “clearly more politically driven than fundamental,” said CEO Ryan…

Global natural gas demand is set to rise by 2.5% or 100 billion cubic meters (Bcm) in 2024 versus 2023, likely accompanied by increased price volatility, according to the International Energy Agency (IEA). This compares with a demand increase of 0.5% recorded in 2023, the global energy watchdog said in its latest quarterly Gas Market…

Tellurian Inc. said Tuesday it is exploring opportunities to sell its upstream natural gas business in the Haynesville Shale.  The idea is to reduce debt and shore up cash to advance the troubled Driftwood LNG export project on the Louisiana coast, said management of Houston-based Tellurian. As it seeks to commercialize the liquefied natural gas…