U.S. natural gas markets are no longer self-correcting as supply surges from onshore unconventional oil-associated wells, particularly the Permian Basin, while demand is maxing out even with exports, according to an analysis by Sanford C. Bernstein & Co. LLC.
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Articles from Bernstein
Unconventional Natural Gas Well IPs Still Improving, Says Bernstein
U.S. natural gas well production during 2017 climbed a staggering 35% year/year, pushed by efficiency improvements from three big shale plays, the Utica (78%), Haynesville (44%) and Marcellus (28%), according to a review by Sanford C. Bernstein & Co. LLC.
Haynesville’s NatGas Rig Count, Proppant Intensity Surging
The Haynesville Shale redux continues, with the natural rig count sharply higher from a year ago and proppant intensity surpassing any other onshore play in the United States, according to analysts.
NatGas Prices to See ‘Short Window of Opportunity’ Before Oversupply Returns, Says Bernstein
Natural gas prices touched $3.00/Mcf in September and the forward curve is averaging $3.12 in 2017, but domestic prices could be skewed to the downside over the longer term, according to Sanford C. Bernstein & Co.
LNG Glut to Last For Now, But ‘Famine’ Coming, Bernstein Says
The global glut of liquefied natural gas (LNG) will stick around for the near- to medium-term as liquefaction capacity grows, yielding a 20-30 million tonne per annum (mtpa) overcapacity until 2018, according to analysts at Bernstein.
Analysts Recommend Measured Approach to LNG Exports
U.S. policymakers should consider approving 1.5-2 Bcf/d of liquefied natural gas (LNG) export capacity each year, which would avoid rocking the domestic gas market and be a pace that shale gas producers could keep in step with, analysts at Bernstein Research said in a note.
Marcellus ‘Monster’ Taking Bite Out of Price Forecasts
Robust production out of the Marcellus Shale is weighing on prices, causing Bank of America (BofA) analysts to doubt the staying power of their fourth quarter and 2014 price forecasts and prompting Bernstein Research to cut its 2013 forecast by 25 cents.
Gas Price Forecasts Cower Before Marcellus ‘Monster’
Robust production out of the Marcellus Shale is weighing on prices, causing Bank of America (BofA) analysts to doubt the staying power of their fourth quarter and 2014 price forecasts and prompting Bernstein Research to cut its 2013 forecast by 25 cents.
Geology in California’s Monterey Shale Problematic, Analyst Says
Running counter to recent public and private sector analyses, mediocre results so far and complex geology have combined to cause an Alliance Bernstein (AB) analyst to question whether the Monterey Shale will live up to some of the hype surrounding its future prospects. Even with these reservations, high oil prices could push the play closer to its potential, the report conceded.