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U.S. E&Ps Forecasting Borrowing Squeeze on Grim Oil, Natural Gas Prices
Shale Daily
U.S. E&Ps Forecasting Borrowing Squeeze on Grim Oil, Natural Gas Prices

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NGI's Shale Daily

April 3, 2020

daily-natural-gas-deliveries-to-us-lng-export-terminals-20200403

Potential End to Price War Said Not Enough to Halt Covid-19 Demand Destruction as Energy Industry Cutbacks Continue

The start of the second quarter has not been a good one for the oil and gas industry, as it appears no global operator will be spared from the devastating oil price war and deadly coronavirus pandemic.
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Rig Count Freefall Accelerates with U.S. Dropping 64

Coming off one of the largest down weeks in the past two decades, the pace of retrenchment in the U.S. onshore accelerated during the week ended Friday (April 3) as 64 rigs exited the patch, according to the latest figures from Baker Hughes Co. (BKR).
US-Produced-Water-Volumes-and-Water-Management-Value-20200402-v2

U.S. Produced Water Volumes Seen Falling On Covid-19, Oil Price Collapse

Produced water from U.S. onshore oil and gas wells is expected to total nearly 20 billion barrels annually by 2022, down almost 4% from 2019 volumes, according to new analysis by IHS Markit.
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U.S. E&Ps Forecasting Borrowing Squeeze on Grim Oil, Natural Gas Prices

The borrowing bases of U.S. oil and natural gas producers are likely to be reduced by at least 20% as the outlook for commodity prices remains grim, according to...

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Double-Digit Capex Cuts Continuing for E&Ps, OFS Sectors

The energy industry remained in turmoil Thursday as the dual threats of Covid-19 and the oil price war decimated demand, leading to more operators announcing steep capital reductions.

West Virginia Governor Signs Bill to Protect Pipelines, 'Critical Infrastructure'

West Virginia now has a law on the books to protect natural gas pipelines and other infrastructure from criminal activity, the first of its kind in the Appalachian Basin.
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Wilks Brothers Scooping Up Bankrupt Carbo Ceramics

Houston-based Carbo Ceramics Inc., now restructuring under Chapter 11, has agreed to sell out to privately held Wilks Brothers LLC, a pioneer Lower 48 hydraulic fracturing operator.
Chesapeake

Chesapeake, Total Prevail in Ohio Royalties Lawsuit

Affiliates of Chesapeake Energy Corp. and Total SA again have defeated a class action lawsuit in federal court that...
Weekly-US-Ending-Stocks-of-Crude-Oil-20200401-v2

Murkowski Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s...
NGI_Logo_Blue_Coronavirus

BP’s Lower 48 Arm Slashes Capex to Battle Coronavirus, Joining Peers to Revamp Plans

A major contraction is underway across North America’s natural gas and oil industry from Covid-19 and unyielding commodity prices, and operators are responding in every way possible to sow the seeds of an eventual recovery.
Quarterly-Whiting-Petroleum-WLL-Total-Debt-to-Capitalization-Ratio-20200401.png

Whiting Files for Chapter 11 Amid Pandemic, Price Rout

Denver-based Whiting Petroleum Corp. has filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas, citing low oil prices and an uncertain outlook for the sector.
Monthly-US-Natural-Gas-Vented-and-Flared-20200401

Snuffing Out Natural Gas Flaring, Methane Emissions Aim of Texas Coalition

A Texas-size group of operators and trade associations on Tuesday launched a Lone Star effort to minimize flaring and methane emissions from the largest producing state in the nation.
Weekly-US-Oil-and-Gas-Rig-Count-20200331

North American Oil, Gas Operators Taking U-Turn on Growth as Coronavirus, Prices Wreaking Havoc

Covid-19 is continuing to cast its dark shadow across the energy sector, as more layoffs are announced and further reductions to capital spending marred the end to the first quarter.
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Pennsylvania Governor Vetoes Natural Gas Tax Credit Bill Aimed at Luring PetChem Projects

Pennsylvania Gov. Tom Wolf has vetoed a bill that would have provided a tax credit for using state-produced natural gas to make petrochemicals or fertilizer.
Keystone-Pipeline-System-20200331

TC Energy, Alberta Government Clinch Financing to Move Keystone XL Exports South

TC Energy Corp. and the Alberta government on Tuesday announced a C$7.5 billion ($5.3 billion) financing agreement...

3D"Sign

NGI's Bidweek Alert Day 5 - March 31st for April 2020
For more detailed information please download the Excel data file
FIXED RANGE BASIS RANGE
South Texas
Agua Dulce -- --
Florida Gas Zone 1 -- --
NGPL S. TX -- --
Tennessee Zone 0 South -- -0.1000 to -0.1000
Texas Eastern S. TX -- -0.0500 to -0.0500
Transco Zone 1 -- -0.0700 to -0.0700
East Texas
Carthage -- -0.1850 to -0.1850
Houston Ship Channel -- -0.0600 to -0.0600
Katy -- --
NGPL TexOk 1.445 to 1.450 -0.2100 to -0.1875
Tennessee Zone 0 North -- -0.1800 to -0.1700
Texas Eastern E. TX -- -0.2050 to -0.2050
Transco Zone 2 -- --
West Texas/SE New Mexico
El Paso Permian 0.120 to 0.950 --
El Paso - Keystone Pool 0.140 to 0.400 --
El Paso - Plains Pool 0.900 to 0.950 --
El Paso - Waha Pool 0.120 to 0.400 --
Transwestern 0.150 to 0.200 --
Transwestern - Central -- --
Transwestern - W. TX 0.150 to 0.200 --
Waha 0.070 to 0.400 --
Midwest
Alliance -- --
ANR ML7 -- --
Chicago Citygate 1.390 to 1.500 --
Chicago - Nicor Gas 1.480 to 1.500 --
Chicago - NIPSCO 1.465 to 1.465 --
Chicago - North Shore -- --
Chicago - Peoples 1.390 to 1.390 --
Consumers Energy -- -0.1600 to -0.1300
Dawn 1.430 to 1.515 -0.1500 to -0.1225
Defiance -- --
Rover-ANR -- --
Rover-Panhandle -- --
Emerson -- -0.1950 to -0.1900
Joliet -- --
Lebanon -- -0.2300 to -0.2300
Michigan Consolidated -- -0.1650 to -0.1350
NGPL Amarillo Mainline 1.350 to 1.350 --
Parkway/Union 1.495 to 1.550 --
REX Zone 3 Delivered -- -0.2500 to -0.2100
REX into ANR - Shelby -- -0.2300 to -0.2250
REX into MGT - Edgar -- -0.2300 to -0.2300
REX into NGPL - Moultrie -- -0.2500 to -0.2100
REX into PEPL - Putnam -- --
REX into Trunk - Douglas -- --
Midcontinent
ANR SW 1.180 to 1.210 --
Enable East -- -0.3300 to -0.2850
NGPL Midcontinent 0.980 to 1.200 -0.6400 to -0.4850
Northern Border Ventura -- --
Northern Natural Demarc 1.320 to 1.395 -0.2750 to -0.2750
Northern Natural Ventura 1.335 to 1.400 -0.2800 to -0.2550
OGT -- -0.6200 to -0.5100
Panhandle Eastern 1.075 to 1.100 -0.6200 to -0.5025
Southern Star -- -0.4000 to -0.3800
North Louisiana/Arkansas
Perryville -- --
Texas Eastern, M1, 24 -- --
Texas Gas Zone 1 -- -0.2250 to -0.1850
Trunkline Zone 1A -- -0.2100 to -0.1700
South Louisiana
ANR SE -- -0.0700 to -0.0625
Columbia Gulf Mainline -- -0.2450 to -0.2000
Columbia Gulf onshore -- -0.1000 to -0.1000
Florida Gas Zone 2 -- --
Henry Hub -- -0.0050 to -0.0050
Pine Prairie -- -0.0725 to -0.0650
Southern Natural -- -0.0650 to -0.0550
Tennessee Line 500 -- -0.0675 to -0.0650
Tennessee Line 800 -- -0.1000 to -0.0950
Texas Eastern E. LA -- -0.1100 to -0.0900
Texas Eastern W. LA -- -0.0700 to -0.0500
Texas Gas Zone SL -- --
Transco Zone 3 -- -0.0600 to -0.0600
Trunkline E. LA -- --
Trunkline W. LA -- --
Southeast
FGT Citygate -- --
Florida Gas Zone 3 -- 0.0025 to 0.0250
Tenn Zone 1 100L -- -0.1850 to -0.1650
Tenn Zone 1 non-St. 87 -- -0.1850 to -0.1725
Tenn Zone 1 St. 87 -- -0.1650 to -0.1650
Texas Eastern M-1, 30 -- --
Transco Zone 4 -- -0.0600 to -0.0450
Transco Zone 5 -- -0.0150 to 0.0150
Transco Zone 5 North -- --
Transco Zone 5 South -- -0.0150 to 0.0150
Appalachia
Columbia Gas -- -0.3100 to -0.2700
Dominion North -- --
Dominion South -- -0.4650 to -0.4300
Leidy Hub -- --
Millennium East Pool -- -0.4500 to -0.3850
Tenn Zone 4 200L -- -0.2500 to -0.2350
Tennessee Zn 4 313 Pool -- -0.3600 to -0.3350
Tennessee Zn 4 Marcellus -- -0.4800 to -0.4500
Texas Eastern M-2, 30 Delivery -- --
Texas Eastern M-2, 30 Receipt -- -0.4950 to -0.4500
Texas Eastern M-3, Delivery -- -0.4100 to -0.3700
Texas Eastern M-3, Receipt -- --
Transco-Leidy Line -- -0.4800 to -0.4325
Northeast
Algonquin Citygate -- -0.1800 to -0.1500
Algonquin Citygate (non-G) -- -0.1800 to -0.1500
Algonquin Receipts -- --
Iroquois Zone 2 -- -0.1000 to -0.0900
Iroquois, Waddington -- -0.1100 to -0.0950
Niagara -- -0.2200 to -0.1800
Tenn Zone 5 200L -- --
Tenn Zone 5 200L East -- --
Tenn Zone 5 200L West -- --
Tenn Zone 5 300L -- --
Tenn Zone 6 200L -- -0.1500 to -0.1200
Tenn Zone 6 200L North -- --
Tenn Zone 6 200L South -- -0.1500 to -0.1200
Tenn Zone 6 300L -- --
Transco Zone 6 non-NY -- -0.4100 to -0.3550
Transco Zone 6 non-NY North -- -0.4100 to -0.3550
Transco Zone 6 non-NY South -- --
Transco Zone 6 NY -- -0.3800 to -0.3500
Rocky Mountains
Cheyenne Hub 1.180 to 1.290 --
CIG 1.220 to 1.285 --
CIG DJ Basin 0.960 to 1.000 --
El Paso Bondad -- --
El Paso San Juan 1.020 to 1.150 --
Kern River 1.230 to 1.290 --
Kingsgate -- --
Northwest Rockies -- --
Northwest S. of Green River -- --
Northwest Sumas 1.300 to 1.400 --
Northwest Wyoming Pool -- --
Opal 1.280 to 1.380 --
Questar -- --
Stanfield -- --
Transwestern San Juan 1.160 to 1.200 --
White River Hub 1.170 to 1.170 --
Arizona/Nevada
El Paso S. Mainline/N. Baja -- --
Kern Delivery 1.350 to 1.540 --
California
Malin 1.325 to 1.360 --
PG&E Citygate 2.180 to 2.390 --
SoCal Citygate 1.500 to 1.850 --
Southern Border, PG&E 1.100 to 1.250 --
Southern Border, SoCal 1.080 to 1.300 --
SoCal Border Avg. 1.080 to 1.300 --
SoCal Border - Blythe -- --
SoCal Border - Ehrenberg 1.150 to 1.300 --
SoCal Border - Kern River Station -- --
SoCal Border - Kramer -- --
SoCal Border - Needles 1.080 to 1.225 --
SoCal Border - Topock -- --
SoCal Border - Wheeler Ridge -- --
Canada
Alliance (APC) - ATP -- --
Empress 1.590 to 1.725 --
NOVA/AECO C 1.565 to 1.690 --
Westcoast Station 2 1.550 to 1.580 --
NOTE: Both the buy and the sell side of transactions are counted in this table, as they are in NGI’s daily, weekly and bidweek natural gas price tables, a standard practice which supports consistency and uniformity across products as explained in our price methodology.