Colonial Pipeline

June Natural Gas Futures Reverse Course, Climb with Exports Steady, Cyberattack Resolution in View

Natural gas futures on Tuesday bounced back from the prior session’s losses, as export demand and other key fundamentals held strong, while a critical oil pipeline signaled it could restore operations this week following a ransomware attack. The June Nymex contract advanced 2.3 cents day/day and settled at $2.955/MMBtu. July gained 2.1 cents to $2.999.…

Perdido’s Plethora of GOM Deepwater Discoveries Continues with Leopard, Says Shell

Houston-based Shell Offshore Inc. on Tuesday disclosed a “significant discovery” at the deepwater Leopard prospect in the Perdido Corridor of the Gulf of Mexico (GOM). The Royal Dutch Shell plc subsidiary said the Leopard well in Alaminos Canyon Block 691 encountered more than 600 feet (183 meters) net oil pay at several levels. Few other…

May 11, 2021

EIA’s Natural Gas Price Forecast Ticks Up to $3.05 on Exports, U.S. Demand

On the strength of exports and domestic consumption, natural gas spot prices at Henry Hub are expected to average $2.78/MMBtu in the second quarter and $3.05 for 2021 overall, the U.S. Energy Information Administration (EIA) said Tuesday. The updated projections, published in the May edition of the agency’s Short-Term Energy Outlook, represent a modest increase…

May 11, 2021

U.S. Natural Gas Exports Grew 13% in 2020 Despite Pandemic, Says DOE

U.S. natural gas exports via pipeline and liquefied natural gas (LNG) rose 13.4% year/year in 2020 despite the pandemic, although that was down from the previous annual increase of 29%, according to the latest trade scorecard of the U.S. Department of Energy (DOE). Total 2020 U.S. gas exports to Canada, Mexico and overseas LNG markets…

May 11, 2021

SoCalGas Looks to Produce Hydrogen from RNG; Clean Energy Inks More Deals

A growing interest in renewable natural gas (RNG) was underscored this month as Newport Beach, CA-based Clean Energy Fuels Corp. signed seven fleet and fueling station supply contracts and Southern California Gas Co. (SoCalGas) entered a demonstration project using supplies to produce hydrogen. Clean Energy, which has contracts with fleets in the ports of Los…

May 11, 2021