Bakken Shale natural gas prices remain at their lowest levels since the height of the pandemic, according to North Dakota’s Department of Mineral Resources (DMR).

The price of natural gas delivered to the Northern Border pipeline system at Watford City, ND, stood at $1.75/Mcf as of Monday (April 17).

“There is currently enormous oversupply in the Midwest U.S. while LNG prices in Europe have decreased to August 2021 levels,” said DMR’s Lynn Helms, Oil and Gas Division director.

[Where are natural gas prices headed this summer? Understand current market fundamentals and what they might mean for prices down the road by watching NGI’s recent webinar, “Outrunning the Bear: Summer Natural Gas Pricing & Fundamentals.” Watch the replay.]

He also cited that U.S. natural gas...