Appalachian

Energy operators were cautiously optimistic during their recent quarterly conference calls that Lower 48 natural gas activity would improve in anticipation of increasing LNG demand, but the startup of more export projects is not yet a certainty, according to some analysts. Evercore ISI’s James West, senior managing director, said the U.S. gas rig count jumped…

Appalachian Basin pure play Range Resources Corp. is targeting flat production growth in 2024 with a focus on natural gas liquids (NGL) to offset weak natural gas pricing, management said Thursday. “Near-term prices are obviously incredibly challenging for the industry, and we expect these historically low price levels should help keep a lid on natural…

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said.  The Houston-based independent plans to decrease capital expenditures (capex) in 2024 by 12% year/year to $1.75-1.95 billion…

CNX Resources Corp. expects efficiencies and new wells in the Appalachian Basin to help lower costs and maintain natural gas output in the years ahead as it explores alternative fuels.  CNX, the first Lower 48 exploration and production (E&P) company to report fourth quarter earnings, said strong execution of last year’s program, along with more…

Natural gas futures on Monday lost ground, succumbing to weaker fundamentals as production notched another all-time high and early winter warmth deflated demand. The December Nymex gas futures contract settled at $3.264/MMBtu, down 25.1 cents day/day. January fell 23.1 cents to $3.564.  At A Glance: Front month sheds 25.1 cents day/day Production approaches 105 Bcf/d…

Appalachian Basin pure-play CNX Resources Corp. is bullish on the long-term prospects for natural gas prices and demand despite the current market slump, management said Thursday. CEO Nick Deluliis and his management team hosted a conference call to discuss second quarter earnings for Canonsburg, PA-based CNX. The company ranked No. 12 in natural gas volumes…

Texas natural gas production was down 77 Bcf year/year in March, according to preliminary data from the Railroad Commission of Texas (RRC). Regulators said production was 896 Bcf in March, or about 29 Bcf/d, compared to 973 Bcf, or around 31 Bcf/d, in March of last year. Production in February was 853 Bcf, or around…

Appalachian natural gas producers Seneca Resources Co. LLC and Northeast Natural Energy (NNE) have agreed to provide access to more than 1 Bcf/d of certified natural gas via commodities trading platform CG Hub, a signal that selling premium supply to overseas markets is advancing. The Chicago-based trading hub, operated through TruMarx Data Partners Inc.’s Comet…

Mountain Valley Pipeline LLC (MVP) developers expect to have the long-delayed and oft-challenged natural gas pipeline in service by the end of this year thanks to a major assist from provisions included in the bipartisan debt ceiling deal signed by President Biden. The Fiscal Responsibility Act, negotiated between the Biden administration and lawmakers, and signed…