Diamondback Energy Inc., which has become an exploration master in the Permian Basin’s Midland sub-basin, is grabbing more Texas leasehold in a $560 million agreement that gives it entry into the basin’s twin prolific play, the Delaware.
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U.S. Tight Oil Holds Competitive Edge Worldwide, Says Wood Mackenzie
The oil and gas industry is adapting to sustained lower commodity prices, all to the good in the U.S. onshore, where the tight oil plays have become commercially viable at an oil price of under $60/bbl, Wood Mackenzie research has found.
NatGas Production Decline, Electricity Demand Push EIA’s 2016 Price Forecast Higher: $2.36/MMBtu
Henry Hub natural gas spot prices reached a nine-month high in June, according to the Energy Information Administration (EIA), which bumped its forecast for 2016 prices up to $2.36/MMBtu, with 2017 prices expected to average $2.95/MMBtu.
Bulls Stirring as Lean Storage Report In Play
August natural gas is expected to open 4 cents higher Thursday morning at $2.83 before a government report that is expected to show additions to supply far less than historical averages. Overnight oil markets rose.
NatGas Forwards Make it Four Weeks Higher on Heat, Storage
Intense heat and a below-average storage injection lifted natural gas forwards for a fourth straight week, according to NGI’s Forward Look.
Heatwave, Storage Send NatGas Forwards Up Fourth Straight Week
Intense heat and a below-average storage injection lifted natural gas forwards for a fourth straight week, according to NGI’s Forward Look.
Despite Breather, NatGas Forwards Climb Again
Natural gas forward prices picked up a few cents on average between June 10 and 16 despite what some market insiders pegged as a bearish storage report, according to NGI Forward Look.
Storage News Brings Out The Bulls, Drives Up NatGas Forwards
Natural gas forwards markets tacked on another 20 cents on average between June 3 and 9 as market players were thrown by this week’s reported storage injection from the U.S. Energy Information Administration, according to NGI’s Forward Look.
EIA Price Forecast Retreats, Slightly: $2.22/MMBtu This Year, $2.96/MMBtu in 2017
After two months of marketed natural gas production increases that peaked in February, the United States saw a decline in March, the Energy Information Administration (EIA) said.
California Energy Users Paying Less Than National Average, State Regulators Say
More than 12 million energy utility customers in California pay less than the national average for natural gas and electricity, and the wealthiest residential consumers tend to pay the highest monthly bills on average, according to a study done by the California Public Utilities Commission (CPUC) planning division.