Coterra Halving Marcellus Spending, but Ready to Pivot for Natural Gas Price Recovery

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said.  The Houston-based independent plans to decrease capital expenditures (capex) in 2024 by 12% year/year to $1.75-1.95 billion…

Weekly Natural Gas Cash Prices, Futures Surrender to Mother Nature’s Meek Winter Disposition

Weekly natural gas spot prices trended lower as soft weather-driven demand overshadowed fresh signs of lower production and more output cuts to come. NGI’s Weekly Spot Gas National Avg. for the holiday-shortened February 20-23 trading period fell 23.5 cents to $1.550. Leading cash price decliners for the week included Southern Border, PG&E in the West,…

February 23, 2024

Natural Gas Futures Succumb to Lofty Supply, Benign Weather; Cash Prices Cascade

Natural gas futures gave up more ground on Friday, hindered by robust supplies and exceptionally mild late-winter weather conditions. At A Glance: Heating demand fades Production remains high Storage surplus increases Coming off a 4.1-cent decline the previous session, the March Nymex gas futures contract on Friday fell another 12.9 cents day/day and settled at…

February 23, 2024

Natural Gas Forwards Rally as Chesapeake Cuts Provide Uplift for 2024 Strip

A wave of bullish optimism, tied to the production cuts announced recently by Chesapeake Energy Corp., also lifted regional natural gas forwards higher during the Feb. 15-21 trading period, NGI’s Forward Look data show. For numerous Lower 48 trading locations, the most pronounced week/week fixed price gains occurred further along the strip during the 2024…

February 23, 2024

Natural Gas Pipeline Connectivity, Electricity Top Mexico Energy Needs, Says Expert Lawyer

“A lot of the potential developments that nearshoring will bring are going to need access to natural gas,” Diana Pineda, a partner at Gónzalez Calvillo law firm in Mexico City, told NGI’s Mexico GPI.  “And the truth is, we’ve now gone several years without a new natural gas pipeline.” Pineda is one of the leading…

February 23, 2024