BP plc had another strong quarter, extending its lead on the rest of the field, but most of the two-dozen leading natural gas marketers participating in NGI’s 2Q2014 Top North American Gas Marketers Ranking reported decreases compared with 2Q2013.
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Futures Seasonality In Play; October Seen a Penny Higher
October natural gas is expected to open a penny higher Wednesday morning at $3.99 as traders balance a historically strong performance of the October contract against the outlook for plump storage injections going forward. Overnight oil markets recovered somewhat from Tuesday’s drop.
EQT, NextEra Receive 1.5 Bcf/d in Commitments for Marcellus/Utica Pipeline
EQT Corp. and NextEra Energy Inc. unit NextEra US Gas Assets LLC on Tuesday launched a binding open season for their Mountain Valley Pipeline project after receiving more than 1.5 Bcf/d of firm capacity commitments during a nonbinding open season that ended in July.
U.S. Natural Gas Production Hit 87.08 Bcf/d in June, EIA Says
U.S. natural gas production hit 87.08 Bcf/d in June, a 0.5% increase from 86.63 Bcf/d in May and a whopping 6.9% (5.61 Bcf/d) more than in June 2013, according to the latest Monthly Natural Gas Gross Production Report issued Friday by the Energy Information Administration (EIA).
Marcellus Molecules, Lots of Them, Will Run in All Directions
As pipelines scurry to develop takeaway capacity from the oversupplied Marcellus/Utica shale region, a Morningstar Commodities Research analyst said the consequences of development will be both bullish and bearish for prices, depending upon where one’s gas lands.
Regency, American Energy-Midstream to Partner in Utica NatGas Project
Regency Energy Partners LP (RGP) and American Energy-Midstream LLC (AE-MidCo) have partnered on RGP’s proposed Utica Ohio River Project, which they have upgraded to deliver up to 2.1 Bcf/d of Utica Shale natural gas production initially to Rockies Express Pipeline (REX) and Texas Eastern Transmission.
May’s Domestic Dry NatGas Production Highest on Record, Says EIA
U.S. dry natural gas production in May reached 2,166 Bcf, or 69.9 Bcf/d — the highest on record for any month — according to preliminary figures compiled by the Energy Information Administration (EIA). Lower 48 gas output came in at 78.10 Bcf/d, a 0.92 Bcf/d increase from April.
Lower 48 Drives Record NatGas Production in May
Preliminary figures compiled by the Energy Information Administration (EIA) indicate that natural gas production in May hit its highest level on record for any month, reaching 2,166 Bcf, or 699 Bcf/d. Lower 48 gas output totaled 78.10 Bcf/d, a 0.92 Bcf/d increase from April.
Canadian Estimated Gas Reserves Astronomical
Canadian natural gas supplies will still last a century if all proposals for new tanker shipments to Asia succeed, the National Energy Board (NEB) has been assured.
Latest BC LNG Export Proposal Not Starting From Scratch
Canadian ambitions for liquefied natural gas (LNG) exports have vaulted to 26 Bcf/d — a total of proposed overseas tanker loadings that is 53% higher than the nation’s 17 Bcf/d production peak to date in 2005.