Regulatory

The Biden administration has finalized rules to slash 90% of emissions from new natural gas-fired power plants, designed in part to encourage the use of more carbon capture and sequestration (CCS).   The U.S. Environmental Protection Agency (EPA) strengthened New Source Performance Standards (NSPS) for newly built gas-fired combustion turbines. Guidelines also were established to curb…

Earnings

ConocoPhillips management confirmed Thursday that it may sell part of its 30% equity stake in the first 1.8 Bcf/d phase of Sempra Infrastructure’s Port Arthur LNG export plant under construction southeast of Houston.  “With regard to Port Arthur, look, we’ve had some inbounds on the equity interest we have,” CEO Ryan Lance said during a…

Earnings

Devon Energy Corp. is working with midstream companies to help advance a natural gas pipeline in the Permian Basin, management said Thursday.  CEO Rick Muncrief and his management team hosted a conference call to discuss first quarter earnings for the Oklahoma City-based oil and gas producer. Devon operates primarily in the Permian’s Delaware sub-basin, as…

Markets

Natural gas futures were close to unchanged in early trading Friday as the market continued to mull plump storage inventories and potential cooling demand upside this summer.  The June Nymex contract was off 0.8 cents to $2.027/MMBtu at around 8:45 a.m. ET. The U.S. Energy Information Administration (EIA) on Thursday reported a 59 Bcf injection…