Story of the Day

ExxonMobil Capex Cuts Weighted to Permian; More Lower 48 Operators Pull Back on Coronavirus
Shale Daily
ExxonMobil Capex Cuts Weighted to Permian; More Lower 48 Operators Pull Back on Coronavirus

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NGI's Shale Daily

April 7, 2020

Horizontal-Rig-Count-by-Main-Hydrocarbon-Type-20200407

U.S. Oil Rig Count Seen Plunging 65% in Record Time, Eclipsing Recent Downturns

The U.S. horizontal oil rig count is poised to drop by an estimated 65% amid the unprecedented effects of the oil price war and Covid-19 pandemic, according to new analysis by Rystad Energy.
Capex-Revisions-at-Selected-Companies-20200407

ExxonMobil Capex Cuts Weighted to Permian; More Lower 48 Operators Pull Back on Coronavirus

ExxonMobil on Tuesday joined its oil and gas peers around the world, announcing it is reducing capital spending...
Monthly-PEMEX-Crude-Oil-Production-20200317

Mexico’s Pemex Downgraded Again as AMLO Govt Fails to Impress -- Bonus Coverage

Having already downgraded the debt of Mexican state oil company Petróleos Mexicanos (Pemex) to junk status in 2019, Fitch Ratings on Friday lowered the firm’s long-term foreign and local currency issuer default ratings (IDR) another notch to ‘BB’ from ‘BBB+’ with a negative outlook.
weekly-us-field-production-of-crude-oil-and-wti-spot-price-20200406

Benefits of Cheap Oil ‘Largely Theoretical’ Until Consumption Improves, Says Raymond James

Until people are traveling again, on the road or in the air, the economic benefits of cheap oil “remain largely theoretical,” as Covid-19’s hit to global demand is worse than the impact of the financial crisis, according to Raymond James & Associates Inc.
Percentage-of-Upstream-Capex-Spent-20200406

Most North American E&Ps Seen Cutting 2020 Capex by 35-40% as Coronavirus Wreaks Havoc

Pressured by global oversupply wrought by the coronavirus and the price war, most North American producers...
major-project-fids-by-year-20200403

Unsanctioned Global Oil, Natural Gas Projects Facing Uncertainty to Move Forward

The global natural gas and industry undoubtedly will see a dramatic pullback in sanctioned projects this year, with only 10 of more than 50 now in the pipeline likely to proceed, with well financed deepwater and niche liquefied natural gas (LNG) facilities the possible bets to rise above the carnage, according to Wood Mackenzie.
Permian-Natural-Gas-Flaring-by-Quarter-20200406

Permian Natural Gas Flaring Falling Possibly to 2012 Levels by Year’s End

Worldwide energy demand has plummeted on the combined effects of Covid-19 and the ongoing price war, but natural gas flaring levels in the Permian Basin are down and should continue to fall through the rest of the year, according to Rystad Energy.
Monthly-Western-Canada-Select-Crude-Oil-Price-20200403.png

Athabasca Oil Mothballs Hangingstone Bitumen Production Site

Athabasca Oil Corp. has called the first halt to an entire Canadian bitumen production site in response to depressed prices and the economic contraction caused by the coronavirus pandemic.
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.
baker_hughes_shale

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.

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.