California

Natural gas aided electric grid operators in California and Texas in maintaining stable operations as solar generation dropped during Saturday’s annular eclipse. For the California Independent System Operator (CAISO), total renewable energy – which includes solar and wind – had climbed to 9,919 MW by 8:40 a.m. PT but then plunged to 5,002 MW by…

Renewable natural gas (RNG) and biofuels producer Aemetis Inc. has closed the sale of $53 million in investment tax credits created through the Inflation Reduction Act (IRA) as a part of its first wave of projects expected to be accelerated by the legislative program. The California-based company disclosed that it wrapped up at the end…

Dallas-based Berry Corp. has completed a $70 million all-cash acquisition of ​​Kern County, CA-based Macpherson Energy Corp., which builds its San Joaquin Basin production and cash flow. The exploration and production (E&P) company updated its full-year guidance based on a Henry Hub natural gas price average of $2.77/MMBtu.  “This transaction is immediately accretive to Berry…

California regulators approved an increase in the maximum natural gas storage level allowed at Southern California Gas Co.’s (SoCalGas) Aliso Canyon facility in Los Angeles County to 68.8 Bcf from 41.16 Bcf, the highest amount deemed safe by the California Geologic Energy Management Division (CalGEM). The decision allows SoCalGas to inject more gas into the…

Steady supplies of natural gas – and more infrastructure to deliver it – are vital for the United States to meet steady domestic consumption and elevated global demand for LNG through this decade and beyond.  Such was the prevailing sentiment among industry leaders and analysts who presented last week at the LDC Gas Forums annual…

Natural gas forward prices retreated through the Aug. 10-16 period as long-range forecasts point to a cooler end to the month with an increase in tropical activity. Strong production levels outside of maintenance, lagging LNG demand and robust underground stocks also weighed on the market, sending September forward prices down an average 25.0 cents, according…

Sempra’s Southern California Gas Co. (SoCalGas) has reached a tentative settlement with California authorities in connection with claims made in 2019 that the utility’s natural gas was “renewable.” California Attorney General (AG) Rob Bonta announced the agreement Monday, in which he called the claims by SoCalGas misleading.  “The vast majority of natural gas — including…

An overall bullish week for natural gas markets saw regional forwards rally sharply from coast to coast during the Aug. 3-9 trading period, while a mix of strong demand and supply constraints helped drive outsized gains for the western Lower 48, NGI’s Forward Look data show. National benchmark Henry Hub set the pace for sizable…

Regulators and Southern California Gas Co. (SoCalGas) have reached a $71 million settlement over the 2015 Aliso Canyon natural gas leak, the largest in U.S. history. The California Public Utilities Commission (CPUC) said late Thursday the agreement requires Sempra Energy’s SoCalGas to pay the penalty into the Aliso Canyon Recovery Account. The California Legislature created…