Braced

After a five-year slide that lopped 75% off prices received by Alberta producers, Canadians are braced to bump into a floor under the buyers’ market for natural gas.

January natural gas declined Wednesday largely in concert with the petroleum complex and as traders braced for a government storage report with widely varying estimates but nonetheless anticipated to show a decline significantly less than historical averages. At the close January had slid 6.6 cents to $3.421 and February had given up 6.5 cents to $3.458. January crude oil dropped 79 cents to $100.49/bbl.

The government of Canada’s top natural gas-producing jurisdiction is braced for a long spell of lean times from oversupplied North American markets.

The government of Canada’s top natural gas-producing jurisdiction is braced for a long spell of lean times from oversupplied North American markets.

Building off Friday’s impressive gains, December natural gas futures on Monday continued to test the upside as traders braced for a cold spell that is expected to affect much of the eastern half of the United States. The prompt-month contract reached a high of $4.293 before closing out the regular session at $4.271, up 10.7 cents from Friday’s finish.

Canadian natural gas field contractors are braced for their second straight lean year while the industry defers drilling until supply gluts burn off and the Alberta government retools development policies.

Canadian natural gas field contractors are braced for their second straight lean year while the industry defers drilling until supply gluts burn off and the Alberta government retools development policies.

Canadian producers are braced for severe summer price lows — possibly below C$2.00/MMBtu (US$1.80) — as international traffic in natural gas continues to slow down on oversupplied markets.

Canadian producers are braced for severe summer price lows — possibly below C$2.00/MMBtu (US$1.80) — as international traffic in natural gas continues to slow down on oversupplied markets.