Natural gas production from seven key Lower 48 regions is set to ease lower from December to January as declines from the Haynesville Shale and the Appalachian Basin overshadow Permian Basin gains, according to the latest modeling from the U.S. Energy Information Administration (EIA). EIA’s updated Drilling Productivity Report (DPR), which also models production trends…
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January Natural Gas Futures, Cash Prices Tripped Up by Warmer Forecasts, Oversupply Views
The January natural gas futures contract stumbled out of the gate on its first day as the front-month Wednesday, tripped up by stubbornly warm forecasts for early December and bears sticking to their oversupply views a day before the government’s weekly storage report. At A Glance: January Nymex falls 3.3 cents Spot prices fall ahead…
Natural Gas Production Declines from Appalachia, Haynesville; Permian Seen Gaining, EIA Says
Overall natural gas production from seven major U.S. onshore regions is expected to recede from November to December but remain robust at just under 100 Bcf/d, according to updated modeling published Monday by the U.S. Energy Information Administration (EIA). The agency’s latest monthly Drilling Productivity Report (DPR) projected combined December production of 99.638 Bcf/d from…
Antero Sees LNG, Power Burn and Muted Production Growth Boosting Natural Gas Prices
The management team of Antero Resources Corp. expects a slew of demand and supply side factors to align in a bullish pattern for U.S. natural gas prices over the next year. CEO Paul Rady outlined his reasoning upon announcing third quarter earnings for the Appalachian Basin pure-play. “On the macro front, we see natural gas…
Natural Gas Said in ‘Supply Purgatory’ in 2024 Before Deficit, LNG Export Boom Take Hold
North American natural gas markets face the risk of oversupply in 2024 if winter comes in mild amid prodigious production gains. However, the gates are set to swing open for surging LNG exports in 2025 that could support prices out to 2030, analysts said. Lower 48 gas in storage is amply supplied ahead of winter,…
MVP to Rank Among ‘Most Valuable Pipelines’ in U.S., Says Equitrans CEO
Equitrans Midstream Corp. management remains upbeat about the long-term fundamentals underpinning the Mountain Valley Pipeline (MVP) despite recently postponing the project’s expected in-service date and upwardly revising its projected cost. Canonsburg, PA-based Equitrans has moved the targeted start-up date for the embattled 2 Bcf/d natural gas conduit to early 2024 from late 2023, and the…
MVP, PHMSA Enter Agreement as Operator Looks to ‘Reassure’ Public Over Safety Concerns
Mountain Valley Pipeline LLC (MVP) operator Equitrans Midstream Corp., seeking to complete construction of its controversial natural gas conduit after a long delay, has agreed to additional steps to address safety concerns raised by the Pipeline and Hazardous Materials Safety Administration (PHMSA). Equitrans would follow a number of additional safety measures in completing construction of…
EQT, Context Looking to ‘Credibly Validate’ Entire Natural Gas Value Chain
EQT Corp., the largest natural gas producer in the United States, is partnering with Context Labs to commercialize verified low-carbon intensity natural gas products and carbon credits. Context Labs offers decarbonization as a service, or DaaS, using technologies to certify emissions profiles and help progress mitigation across the natural gas value chain. Technologies include distributed…
Pennsylvania Posts Largest Annual Decline in Natural Gas Production
Pennsylvania’s natural gas production declined by 5.1% in the final quarter of 2022, the largest year/year decline since monthly production data began, according to the state’s Independent Fiscal Office (IFO). This was the fourth consecutive quarter in which production did not increase on a yearly basis, according to the IFO’s Natural Gas Production Report compiled…
Ascent Resources Outlines Steady Utica Drilling Plan as Natural Gas Prices Seen Weakening
Privately-held Ascent Resources Utica Holdings LLC, Ohio’s largest natural gas producer, is joining its publicly-traded peers in keeping production and activity flat this year as the commodity outlook has softened. Ascent, also one of the nation’s largest private natural gas producers, is guiding for 2-2.1 Bcfe/d of production in 2023, in line with the 2.1…