ConocoPhillips Permian well site

ConocoPhillips, Marathon Oil Join Mega Merger Parade to Create Giant in U.S. Onshore 

Houston-based ConocoPhillips, the world’s largest independent producer, is moving to become even bigger in an estimated $22.5 billion all-stock takeover of crosstown rival Marathon Oil Corp. The transaction, which includes $5.4 billion net debt, would add “complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio,” CEO Ryan Lance said.  The transaction includes more than 2 billion…

Mexico Natural Gas Prices Lower, Imports Higher Than When AMLO Came to Office – Spotlight

North American natural gas prices for the coming months remained pressured on the low side this week at around $2.500/MMBtu as Mexico turned its attention to this weekend’s historic presidential elections. Overall, natural gas prices are lower now than when Mexicans last went to the polls in 2018. NGI’s Bidweek price at the Henry Hub…

May 30, 2024

Natural Gas Forwards Plummet as Production Seen Returning

Regional natural gas forwards sold off heavily during the May 23-29 trading period as the unofficial start of summer — and the ramp up in prices during the month of May — brought a shift in the production outlook. June fixed prices at benchmark at Henry Hub tumbled 34.4 cents for the period to finish…

May 30, 2024

Potentially ‘Extraordinary’ Hurricane Season Nears, with Natural Gas Demand and Prices Said Vulnerable

If forecasts prove accurate, natural gas production and demand could each prove susceptible to an exceptionally active hurricane season – though the latter is likely more vulnerable, analysts said. The National Oceanic and Atmospheric Administration (NOAA) said in its May outlook that it predicted eight to 13 hurricanes and 17 to 25 named storms. When…

May 30, 2024

Argentina Wades Into Crowded Spot Market to Meet Winter Demand – Three Things to Know About the LNG Market 

NO. 1: Argentina’s Enarsa PDV SA has purchased eight spot LNG cargoes as it grapples with a cold snap ahead of winter in the Southern Hemisphere, which begins next month. The buy tender closed on Tuesday with offers from Engie SA, Glencore plc, RWE AG, Trafigura Pte. Ltd., TotalEnergies SE and Vitol Inc., according to…

May 30, 2024