Average

No Luck For NatGas Forwards: Small Storage Draw, Mild Temps Pressure Prices Lower

No Luck For NatGas Forwards: Small Storage Draw, Mild Temps Pressure Prices Lower

Natural gas forwards markets slid an average of 11 cents at the front of the curve between March 10 and 16 as the luck of the Irish proved elusive, thanks to a smaller-than-expected storage withdrawal and weather forecasts calling for increasingly mild weather to close out March.

March 17, 2017

Brief — Xcel Energy

Retail natural gas utility bills in Colorado are headed up, according to Xcel Energy’s Denver-based combination utility, which sees a 12-16% rise in monthly bills coming in 2Q2017 compared to the same quarter last year. Xcel made a quarterly gas cost adjustment filing to state regulators on Wednesday calling for residential gas rates to increase to 33.6 cents/therm next quarter, compared to 24.1 cents/therm for the second quarter last year, a 12% increase to average bills of a little more than $30 monthly. For small businesses, the rate increases to 33.3 cents/therm from 23.8 cents/th in 2Q2016, an increase of 16% to average bills of $125 each month. Xcel asked the Colorado Public Utilities Commission to approve the rates to be effective April 1.

March 16, 2017

Extraction Oil Expecting 17% Production Surge in 2017 Driven by Wattenberg

With both a successful initial public offering (IPO) and a favorable regulatory decision in its rearview mirror, Denver-based Extraction Oil & Gas LLC said Tuesday it expects average production this year to grow by about 17% at the midpoint compared with 2016.

March 15, 2017

Near-Term Cooling In Play; April Called 3 Cents Higher

April natural gas is set to open 3 cents higher Thursday morning at $2.93 as overnight weather models call for near-term cooling and analysts study seasonal price patterns. Overnight oil markets dived once again.

March 9, 2017
Warm Winter Wilting EIA’s 2017 NatGas Price Forecast: $3.03/MMBtu

Warm Winter Wilting EIA’s 2017 NatGas Price Forecast: $3.03/MMBtu

Relatively warm winter weather across most of the country has dulled demand for natural gas, resulting in a 12% decrease in the Energy Information Administration’s (EIA) forecast Henry Hub spot price for 2017, to $3.03/MMBtu, the agency said in its latest Short-Term Energy Outlook (STEO), which was released Tuesday.

March 7, 2017
EIA Cuts 2017 NatGas Price Forecast 12% to $3.03MMBtu

EIA Cuts 2017 NatGas Price Forecast 12% to $3.03MMBtu

Relatively warm winter weather across most of the country has dulled demand for natural gas, resulting in a 12% decrease in the Energy Information Administration’s (EIA) forecast Henry Hub spot price for 2017, to $3.03/MMBtu, the agency said in its latest Short-Term Energy Outlook (STEO), which was released Tuesday.

March 7, 2017
Winter that Wasn’t? March NatGas Forwards Shed 20-Plus Cents Last Week

Winter that Wasn’t? March NatGas Forwards Shed 20-Plus Cents Last Week

Not even a larger-than-expected withdrawal from storage was enough to soften the blow of a more than 20-cent drop in March natural gas forwards prices as the main focus remains on weather, or the lack thereof.

February 27, 2017
March NatGas Forwards Shed 20-Plus Cents W-O-W As Market Writes Off Winter

March NatGas Forwards Shed 20-Plus Cents W-O-W As Market Writes Off Winter

Not even a larger-than-expected withdrawal from storage was enough to soften the blow of a more than 20-cent drop in March natural gas forwards prices as the main focus remains on weather, or the lack thereof.

February 24, 2017

Plump Surplus Expansion In Play; March Called Down 9 Cents

March natural gas is expected to open 9 cents lower Tuesday morning at $2.74 as both near- and medium-term temperature forecasts call for less heating load. Overnight oil markets were unchanged to higher.

February 21, 2017

Encana Readies ‘Powerful Launch Pad’ in Onshore, CEO Says

North American super independent Encana Corp. sharply lowered costs, delivered better wells and strengthened its balance sheet last year, as it prepared for rising growth from 2017 and beyond, CEO Doug Suttles said Thursday.

February 16, 2017