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Moody’s Investors Service for the first time lowered its global oil and gas midstream rating to negative as the broader energy sector grapples with simultaneous demand and supply shocks.

Houston-based Black Stone Minerals LP has clinched an incentive agreement with ExxonMobil’s XTO Energy Inc. to turn some wells online within a section of the Haynesville Shale in East Texas.

Natural gas futures tumbled Friday as markets absorbed forecasts for cooler weather, concerns about bloated inventories and declining liquefied natural gas (LNG) volumes. The July Nymex contract settled at $1.731/MMBtu, down 8.2 cents day/day. August fell 8.5 cents to $1.815.

Latin American liquefied natural gas (LNG) imports have dropped significantly since March from the same period last year, but it is unclear to what extent the Covid-19 pandemic has contributed to the decline.

For what would be a third straight month, oil and natural gas production from seven of the nation’s most prolific onshore unconventional plays will be down in July compared to June, the Energy Information Administration (EIA) said Monday.

Although Bakken Shale oil and natural gas prices in North Dakota have begun to recover, production continues to plummet at a historic pace, according to Department of Mineral Resources director Lynn Helms.

Enbridge Inc. has won the second round of its legal battle against fossil fuel foes to keep its 540,000 b/d oil Line 5 across the Straits of Mackinac between Lake Huron and Lake Michigan.

Following last Friday’s sell-off, natural gas futures gave up further ground Monday on modestly cooler weather forecasts and lingering concerns about the coronavirus pandemic and its impact on industrial energy demand. Persistently low liquefied natural gas (LNG) volumes also continued to weigh on markets.

The beleaguered Mountain Valley Pipeline (MVP), one of the last major greenfield projects pending to move natural gas from the Marcellus and Utica shales, is almost at the finish line, but more delays and cost overruns are likely, according to the operator.