Major Energy Trade Associations Challenge Legality of DOE’s LNG Export Pause

One of the U.S. oil and natural gas industry’s largest trade groups is pushing the Department of Energy (DOE) to reverse a pause on new LNG export licenses as the possibility of intervention from Congress slims. The American Petroleum Institute (API) and other groups representing the liquefied natural gas industry have filed a request for…

H&P Predicting ‘Modest’ U.S. Rig Gain, but Warns E&Ps Resetting on Weak Natural Gas Prices

The headwinds resulting from low natural gas and oil prices have driven Helmerich & Payne Inc. (H&P) toward opportunities to showcase the capabilities of the high-tech rig fleet and drilling solutions, according to CEO John Lindsay. The energy industry faces challenges nearly every year, but as the market zigs and zags, there are other ways…

February 28, 2024

‘Stable’ Natural Gas Still Seen Critical to California Energy Mix Despite Hydro Power Rebound

As California utilities prepare their systems for upcoming summer demand, hydro-electric generation and other renewable resources remain important tools in the state’s energy resource toolbox. However, natural gas is crucial to the stabilization of the power grid, particularly during extreme events, according to state regulators. The California Energy Commission (CEC) is anticipating more robust hydro…

February 28, 2024

Natural Gas Futures Finding Upward Momentum on Production Pullback — MidDay Market Snapshot

Natural gas futures higher through midday trading as estimates continue to show production off recent highs April Nymex contract up 7.4 cents to $1.882/MMBtu as of 2:11 p.m. ET; stronger gains for May, June, July contracts Fourth consecutive surplus-padding storage print expected from weekly U.S. Energy Information Administration (EIA) report Thursday NGI modeling minus-84 Bcf,…

February 28, 2024

Weaker Output Not Enough to Send Off March Natural Gas Futures in Style

Natural gas futures were mixed on Tuesday, with the March contract off slightly amid light volume. But the April contract was boosted by bargain buying and a continued slide in production that could, if sustained, address supply/demand imbalance and bolster prices in the medium term. At A Glance: Output slips below 102 Bcf/d Solid but…

February 28, 2024