Appalachia

Natural Gas Forwards Mixed as Market Left Waiting for Signs of Early Winter Cold

Natural Gas Forwards Mixed as Market Left Waiting for Signs of Early Winter Cold

A mixed week of natural gas forwards price action brought strengthening in the south central Lower 48, countered by shoulder season moderation for the Northeast and out West, an analysis of NGI’s Forward Look data for the Sept. 14-20 trading period shows. With nary a hint of intimidating early season cold, at least for now,…

September 21, 2023
Equitrans Finds Corrosion Caused Pennsylvania Natural Gas Storage Well Leak

Equitrans Finds Corrosion Caused Pennsylvania Natural Gas Storage Well Leak

Equitrans Midstream Corp. said corrosion was to blame for a natural gas storage well in Southwest Pennsylvania that leaked over 1 Bcf of natural gas into the atmosphere for more than 10 days last November. Corrosion on the outside diameter of the top joint of the well and debris between its outer and inner casings…

August 28, 2023
More Natural Gas Production Needed to Meet Next Wave of LNG Growth, Southwestern CEO Says

More Natural Gas Production Needed to Meet Next Wave of LNG Growth, Southwestern CEO Says

Southwestern Energy Co. said a combination of activity cuts, moderating inflation and operational efficiencies would cut its full-year capital spending by $200 million as it continues to navigate a volatile commodity landscape. The company now expects capital investment to be $2.0-2.3 billion this year, with full-year production of 1.65-1.70 Tcfe, or about 1% below the…

August 7, 2023
Natural Gas Forward Prices Post Modest Gains as Market Seeks Fresh Direction

Natural Gas Forward Prices Post Modest Gains as Market Seeks Fresh Direction

Natural gas forward prices were mostly higher for the July 6-12 period as a drop in production and sweltering summer heat drove larger-than-normal gains in Appalachia and the Southeast, according to NGI’s Forward Look. August forward prices climbed an average of 4.0 cents through the period, Forward Look data showed. The balance of summer (August-October)…

July 14, 2023
Kodiak Prepares IPO as Lower 48 Natural Gas Production Forecast to Increase

Kodiak Prepares IPO as Lower 48 Natural Gas Production Forecast to Increase

Lower 48-focused Kodiak Gas Services LLC, the largest privately owned natural gas contract compression company in the country, is preparing to go public with an offering that could fetch a valuation of nearly $1.7 billion. Based in Montgomery, TX, about 50 miles northeast of Houston, Kodiak is proposing to sell 16 million shares through an…

June 26, 2023
Domestic Natural Gas Output to Inch Higher in July, Averaging 97.34 Bcf/d, Says EIA

Domestic Natural Gas Output to Inch Higher in July, Averaging 97.34 Bcf/d, Says EIA

Natural gas production from the Lower 48’s top seven basins is expected to climb ever so slightly in July to about 97.34 Bcf/d, about 84 MMcf/d higher than in June, according to the U.S. Energy Information Administration (EIA). The Drilling Productivity Report (DPR) provides month/month natural gas and oil production forecasts for the Anadarko, Appalachia…

June 12, 2023
Appalachia’s Ascent Turning to Liquids, Market Diversification Amid Low Natural Gas Prices

Appalachia’s Ascent Turning to Liquids, Market Diversification Amid Low Natural Gas Prices

Ascent Resources Utica Holdings LLC is pivoting to the liquids-rich window of its acreage and marketing most of its natural gas outside the Appalachian Basin to offset price volatility, according to management. CEO Jeff Fisher hosted a conference call earlier this month to discuss first quarter results of Oklahoma City-based Ascent, a Utica Shale pure-play…

May 26, 2023
Lower 48 Plays to Add 400 MMcf/d of Production from February to March, EIA Says

Lower 48 Plays to Add 400 MMcf/d of Production from February to March, EIA Says

With the Haynesville Shale continuing to serve as the biggest driver of projected onshore natural gas production growth, output from seven key Lower 48 plays is poised to grow by 426 MMcf/d from February to March, according to the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, the agency modeled…

February 13, 2023
Timely Release of USFS Draft Review a Potential Boon for MVP

Timely Release of USFS Draft Review a Potential Boon for MVP

Earlier than expected, the U.S. Forest Service (USFS) has released a draft version of an updated environmental review needed for the Mountain Valley Pipeline’s (MVP) proposed 3.5-mile crossing of the Jefferson National Forest along the Virginia-West Virginia border. Notice of the availability of the draft supplemental environmental impact statement (EIS) was published in the Federal…

January 9, 2023
Sitio, Brigham Complete $4.8B Merger to Form U.S. Mineral, Royalties Giant

Sitio, Brigham Complete $4.8B Merger to Form U.S. Mineral, Royalties Giant

Minerals firm Sitio Royalties Corp. closed the books on a successful merger with Brigham Minerals Inc., combining “two of the largest public companies in the mineral and royalty sector,” the companies said. The $4.8 billion all-stock transaction has added 15,000 boe/d of oil-weighted pro forma production to Denver-based Sitio’s portfolio, which now stands at about…

December 30, 2022
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