Story of the Day

Small Rally for Front Month as Depressed Natural Gas Futures Market Waiting on Weather
Daily GPI
Small Rally for Front Month as Depressed Natural Gas Futures Market Waiting on Weather

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January 23, 2020

Markets

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Small Rally for Front Month as Depressed Natural Gas Futures Market Waiting on Weather

Daily GPI
After recent heavy selling, signs of colder temperatures returning near the end of the 15-day outlook provided enough impetus for a modest natural gas futures rally Thursday; however, an on-target inventory report saw prices pull back a few cents. The February Nymex contract went on to settle 2.1 cents higher at $1.926/MMBtu after trading as high as $1.980. March settled at $1.904, up 0.4 cents.
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Market Development, Pricing Hubs Seen Advancing in Mexico Natural Gas Market

Local pricing indexes will develop in Mexico in the coming years as infrastructure interconnectivity and increasing liquidity become features in the natural gas market, according to experts who spoke earlier this month in Monterrey.
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Natural Gas Forward Markets Seeking Stabilization After Brutal Slaughtering

Forward Look
Natural gas forward prices continued to collapse during the Jan. 16-22 period, with traditionally premium-priced February contracts sporting $1 handles across most of the country.
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Natural Gas Futures Pause For Breather as Weather Outlook Stable

  • BREAKING: EIA reports 92 Bcf withdrawal for week ended Jan. 17, versus estimates ~88-91 Bcf
  • February Nymex contract up 1.0 cent to $1.905/MMBtu; March up 1.1 cents to $1.900
  • “I think people were trying to figure out what happened” after recent sell-off, says INTL FCStone’s Saal
  • Columbia Gulf maintenance impacting southbound flows through Louisiana: Genscape
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NGI 2020: More Price Pain in Store for Natural Gas Bulls, but LNG Brings Hope in New Decade

Daily GPI
Amid bargain basement prices and stubbornly mild January temperatures, 2020 has gotten off to an...

Natural Gas Futures Rebound Early Amid Colder Look for February Temps

Daily GPI
With natural gas futures dropping to four-year lows this week on mild winter weather, the prospect of colder temperatures returning next month helped spark a rebound in early trading Thursday. The February Nymex contract was up 5.7 cents to $1.962/MMBtu shortly after 8:40 a.m. ET.

More in Markets...

E&P

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North American E&Ps Facing Debt Challenges Again as Natural Gas, Oil Prices Languish

Shale Daily
Natural gas prices continue to languish and oil prices have failed to strengthen despite recent geopolitical events, indicating more North American energy operators may face restructuring or bankruptcy through the first half of 2020, according to Haynes and Boone LLP.
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Questerre Adds More Utica Shale Prospects in Quebec

Shale Daily
A marathon campaign to revive dormant natural gas drilling in Quebec advanced a step in an asset transaction...

As DUCs Decline, U.S. Sand Demand Seen Returning, with In-Basin Capacity Outpacing NWS

Shale Daily
A fall off in Lower 48 exploration activity has slammed the sand mining sector, but some stability should return this year, according to Moody’s Investors Service.

Oil, Natural Gas Production Growth From Key Onshore Plays Nearly Flat Next Month, Says EIA

Shale Daily
Oil and natural gas production from seven of the United States' most prolific onshore unconventional plays is expected to increase in February compared with January, but at a markedly slower pace than in the recent past, according to the Energy Information Administration (EIA).

4Q2019 Earnings: Halliburton Right Sizing North American Land Business to Hold Market Share

Daily GPI
Halliburton Co. CEO Jeff Miller said Tuesday the company is prepared to face the “biggest test” for the U.S. natural gas and oil industry in five years by following the usual playbook and proactively stacking equipment and cutting expenses.
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Bakken Production Sputters on North Dakota; Slowdown Seen Through Spring

Shale Daily
Bakken Shale oil and natural gas production is unlikely to strengthen through the first quarter, according to the latest monthly statistics from North Dakota.

More in E&P...

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Infrastructure

4Q2019 Earnings: Kinder Natural Gas Pipeline Volumes Climb Again Despite Weak Prices

Daily GPI
Capital discipline remained a key theme as Kinder Morgan Inc. executives on Wednesday shed light on fourth quarter 2019 earnings and the outlook for 2020. The midstreamer recorded another quarter of increased natural gas volumes, but the weak price environment has taken a toll on recontracting efforts for some assets.
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Following Record Year for LNG, More (Albeit Slower) Growth Said Ahead

Daily GPI
Liquefied natural gas marked a banner year in 2019, with new investments and liquefaction project start-ups among the slew of records set for the growing industry, according to analytics firm IHS Markit.
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Annova LNG Secures Supply Deal With Enbridge for Proposed South Texas Project

Daily GPI
Aiming to be part of the second wave of U.S. liquefied natural gas export projects, Annova LNG has scored a 20-year supply deal that would access multiple receipt points with major pipelines in the Agua Dulce area to feed its Brownsville, TX, project.
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Rover Pipeline Says Able to Increase Appalachian Capacity at No Cost

Shale Daily
Energy Transfer LP affiliate Rover Pipeline LLC wants to slightly increase capacity on the 713-mile system that serves natural gas producers in the Marcellus and Utica shales.

4Q2019 Earnings: Natural Gas Supply, LNG Demand Solid for Long Term, Says Baker Hughes

Daily GPI
Recent spot price weakness and fewer sanctioned export projects expected this year have not changed the overall long-term supply and demand picture for liquefied natural gas (LNG), Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday.
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McDermott Expects Natural Gas, Oil Projects to ‘Seamlessly’ Continue through Chapter 11 Process

Daily GPI
U.S. natural gas export projects underway on the Gulf Coast and other plans...

More in Infrastructure...

Regulatory

PG&E, Major Debtors Call Truce but California Governor Still Opposed to Restructuring Plan

Daily GPI
A peace pact of sorts has been reached between PG&E Corp. and some financial adversaries regarding its many layered bankruptcy restructuring plan, but California Gov. Gavin Newsom has taken up the gauntlet to continue battle.
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FERC Delays Action on PennEast Pipeline’s Eminent Domain Petition

Daily GPI

A request from PennEast Pipeline Co. LLC for an order interpreting the Natural Gas Act’s eminent domain authority, which had been on the agenda for FERC’s open meeting in Washington, DC, Thursday, was postponed by the Commission until later this month.

Lower 48 Energy Operators Likely to Benefit from WOTUS Overhaul

Shale Daily
The oil and natural gas industry reacted favorably to the Trump administration’s delivery on a promise to reduce environmental oversight of U.S. waters by issuing final rules Thursday that are certain to draw litigation.

Unconventional Production Dodges Trespass Claims in Key Pennsylvania Ruling

Shale Daily
The Pennsylvania Supreme Court this week handed what for now is a key victory to Appalachian producers, finding that in some instances they may not be held liable for subsurface trespass by extracting oil and natural gas using hydraulic fracturing (fracking).
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Commissioner McNamee Stepping Down from FERC in June

Daily GPI
Commissioner Bernard McNamee said Thursday he will leave FERC at the end of his current term, which is set to expire June 30.

Claims for PG&E's $13.5B Wildfire Settlement Fund Balloon

Daily GPI

Thousands of additional claims have poured in since a deadline was extended for California wildfire victims to file for their share of a $13.5 billion settlement fund established by Pacific Gas & Electric Co. 

More in Regulatory...

3D"Sign

NGI's Bidweek Alert Day 5 - December 31st for January 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 -- -0.1575 to -0.1525
Texas Eastern S. TX -- --
Transco Zone 1 -- -0.0850 to -0.0850
East Texas
Carthage -- --
Houston Ship Channel -- --
Katy -- --
NGPL TexOk -- -0.1900 to -0.1800
Tennessee Zone 0 North -- -0.1800 to -0.1700
Texas Eastern E. TX -- --
Transco Zone 2 -- --
West Texas/SE New Mexico
El Paso Permian 0.850 to 1.570 --
El Paso - Keystone Pool 0.950 to 1.300 --
El Paso - Plains Pool 1.450 to 1.570 --
El Paso - Waha Pool 0.850 to 1.300 --
Transwestern 1.050 to 1.200 --
Transwestern - Central 1.050 to 1.200 --
Transwestern - W. TX 1.050 to 1.200 --
Waha 0.850 to 1.300 --
Midwest
Alliance -- --
ANR ML7 -- --
Chicago Citygate 2.265 to 2.355 --
Chicago - Nicor Gas 2.270 to 2.350 --
Chicago - NIPSCO 2.265 to 2.355 --
Chicago - North Shore -- --
Chicago - Peoples 2.275 to 2.275 --
Consumers Energy -- -0.0400 to -0.0100
Dawn 2.070 to 2.270 0.0100 to 0.0400
Defiance -- --
Rover-ANR -- --
Rover-Panhandle -- --
Emerson -- 0.0250 to 0.0800
Joliet -- --
Lebanon -- -0.1000 to -0.1000
Michigan Consolidated 2.040 to 2.045 -0.1400 to -0.1250
NGPL Amarillo Mainline -- --
Parkway/Union 2.135 to 2.330 0.1500 to 0.1500
REX Zone 3 Delivered -- -0.1200 to -0.0525
REX into ANR - Shelby -- -0.1200 to -0.0525
REX into MGT - Edgar -- --
REX into NGPL - Moultrie -- -0.0650 to -0.0650
REX into PEPL - Putnam -- -0.0900 to -0.0900
REX into Trunk - Douglas -- --
Midcontinent
ANR SW -- -0.2700 to -0.2000
Enable East -- -0.2050 to -0.1700
NGPL Midcontinent 1.350 to 1.555 -0.9000 to -0.6000
Northern Border Ventura -- --
Northern Natural Demarc 2.300 to 2.380 --
Northern Natural Ventura 2.385 to 2.480 --
OGT 1.630 to 1.630 -0.6100 to -0.6000
Panhandle Eastern 1.590 to 1.725 -0.5400 to -0.3975
Southern Star -- -0.2000 to -0.2000
North Louisiana/Arkansas
Perryville -- --
Texas Eastern, M1, 24 -- --
Texas Gas Zone 1 -- -0.1675 to -0.1475
Trunkline Zone 1A -- -0.1675 to -0.1425
South Louisiana
ANR SE -- --
Columbia Gulf Mainline -- -0.1800 to -0.1700
Columbia Gulf onshore -- -0.0900 to -0.0900
Florida Gas Zone 2 -- --
Henry Hub -- -0.0050 to 0.0000
Southern Natural -- -0.0600 to -0.0500
Tennessee Line 500 -- -0.0800 to -0.0650
Tennessee Line 800 -- -0.1250 to -0.1200
Texas Eastern E. LA -- -0.1200 to -0.0975
Texas Eastern W. LA -- -0.0800 to -0.0800
Texas Gas Zone SL -- --
Transco Zone 3 -- -0.0500 to -0.0400
Trunkline E. LA -- --
Trunkline W. LA -- --
Southeast
FGT Citygate -- --
Florida Gas Zone 3 -- -0.0050 to 0.0100
Texas Eastern M-1, 30 -- --
Transco Zone 4 -- -0.0400 to -0.0150
Transco Zone 5 -- 0.9700 to 1.4000
Transco Zone 5 North -- 1.0000 to 1.1900
Transco Zone 5 South -- 0.9700 to 1.4000
Appalachia
Columbia Gas -- -0.3500 to -0.3225
Dominion North -- -0.4150 to -0.4100
Dominion South -- -0.4400 to -0.4125
Leidy Hub -- --
Millennium East Pool -- --
Tenn Zone 4 200L -- -0.1800 to -0.1600
Tennessee Zn 4 313 Pool -- -0.4000 to -0.3400
Tennessee Zn 4 Marcellus -- -0.4525 to -0.4200
Texas Eastern M-2, 30 Delivery -- --
Texas Eastern M-2, 30 Receipt -- -0.4450 to -0.3850
Texas Eastern M-3, Delivery -- 0.9700 to 1.6100
Texas Eastern M-3, Receipt -- --
Transco-Leidy Line -- -0.4250 to -0.3975
Northeast
Algonquin Citygate -- 3.5000 to 4.8500
Algonquin Citygate (non-G) -- 3.5000 to 4.8500
Algonquin Receipts -- --
Iroquois Zone 2 -- 4.2000 to 4.9500
Iroquois, Waddington -- 1.1500 to 1.4200
Niagara -- 0.1000 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 -- 4.4500 to 5.2500
Tenn Zone 6 200L North -- 4.4500 to 5.2500
Tenn Zone 6 200L South -- --
Tenn Zone 6 300L -- --
Transco Zone 6 non-NY -- 0.9200 to 1.3000
Transco Zone 6 non-NY North -- 0.9200 to 1.3000
Transco Zone 6 non-NY South -- --
Transco Zone 6 NY -- 1.7500 to 2.2500
Rocky Mountains
Cheyenne Hub 1.820 to 1.880 --
CIG 1.830 to 1.870 --
CIG DJ Basin -- --
El Paso Bondad 2.290 to 2.410 --
El Paso San Juan 2.380 to 2.520 --
Kern River 3.100 to 3.230 --
Kingsgate -- --
Northwest Rockies 3.250 to 3.250 --
Northwest S. of Green River -- --
Northwest Sumas 3.550 to 3.850 --
Northwest Wyoming Pool 3.250 to 3.250 --
Opal 3.000 to 3.300 --
Questar -- --
Stanfield -- --
Transwestern San Juan 2.470 to 2.480 --
White River Hub 2.400 to 2.400 --
Arizona/Nevada
El Paso S. Mainline/N. Baja -- --
Kern Delivery 3.800 to 3.950 --
California
Malin 3.125 to 3.320 --
PG&E Citygate 3.450 to 3.610 --
SoCal Citygate 5.800 to 5.950 --
Southern Border, PG&E 2.600 to 2.640 --
Southern Border, SoCal 2.635 to 3.500 --
SoCal Border Avg. 2.635 to 3.500 --
SoCal Border - Blythe -- --
SoCal Border - Ehrenberg 3.500 to 3.500 --
SoCal Border - Kern River Station -- --
SoCal Border - Kramer -- --
SoCal Border - Needles 2.750 to 2.750 --
SoCal Border - Topock 2.635 to 2.635 --
SoCal Border - Wheeler Ridge -- --
Canada
Alliance (APC) - ATP -- --
Empress 2.315 to 2.365 --
NOVA/AECO C 2.180 to 2.280 --
Westcoast Station 2 2.060 to 2.205 --
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.