As one energy prognosticator sees it, natural gas production across the entire United States has “clearly” bottomed out and is once again ramping up, driven by two things: a slowdown in shallow field declines in the Gulf of Mexico (GOM) and growth in several key unconventional resource plays.
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U.S. Gas Output Up as GOM Declines Slow, Unconventional Plays Grow
As one energy prognosticator sees it, natural gas production across the entire United States has “clearly” bottomed out and is once again ramping up, driven by two things: a slowdown in shallow field declines in the Gulf of Mexico (GOM) and growth in several key unconventional resource plays.
LNG Exec Says Industry Needs to Stress Safety Record
The liquefied natural gas (LNG) industry is still “booming” compared to previous years, but participants need to clearly explain to the public how safe LNG actually is, the secretary general of the Society of International Gas Tankers and Terminal Operators said Thursday.
Few Points Avoid Continued Softening
Prices were mixed Wednesday, but lower again in most cases. A screen plunge of nearly 40 cents the day before clearly outweighed rising cooling load in some areas in vying to be the primary cash market influence. Continued concern about the potential for running out of storage injection space later this summer or fall also contributed to overall cash softness.
EPAct Makes FERC ‘Regulator with Teeth,’ Attorney Says
Although it’s still unclear how far or how fast FERC will take its new enforcement authority, the Commission clearly has become a “regulator with teeth” under broadened powers given to it by the Energy Policy Act of 2005 (EPAct), according to a Washington, DC-based attorney who analyzed the new law and has experience dealing with Securities and Exchange Commission (SEC) enforcement, from which FERC’s newfound authority is modeled.
EIA Maintains Bullish Forecast on Natural Gas Prices Despite Recent Declines
The Energy Information Administration (EIA) is clearly in the natural gas bulls’ camp, predicting that spot Henry Hub gas prices, which averaged $9.00/Mcf in 2005 will average $11.25/Mcf ($10.92/MMBtu) in the first quarter of 2006 and $9.80/Mcf for the year. Last month, EIA’s forecast was $11.48 for the first quarter and $9.30 for the year. Henry Hub prices currently are about $8.60/MMBtu ($8.35/Mcf).
All Western Points Rally; Prices Mixed in East
Prices rallied solidly across the West Monday, but the market was clearly a mixed bag in the East, although eastern gains tended to slightly outweigh losses. More heating load was starting to show up in some regions, particularly the Midwest, and Monday’s spot prices also derived support from the screen’s 33.2-cent spike on Friday.
Storage Buying Pressures Most Points Higher
Now that winter is over, most experts would have trouble ruling out the possibility of a test of market lows. But that clearly wasn’t happening in the cash market on Monday. Despite mild weather, high line pack on many pipes and weaker crude oil fundamentals, most points were up a nickle to as much as 15 cents.
ChevronTexaco CEO Calls for Strong Energy Policy
ChevronTexaco Corp. CEO Dave O’Reilly said Tuesday that with the era of “cheap oil and even cheaper natural gas clearly ending,” the United States has to enact a strong energy policy to ensure its security and its economic future.
ChevronTexaco CEO Calls for Strong Energy Policy
ChevronTexaco Corp. CEO Dave O’Reilly said Tuesday that with the era of “cheap oil and even cheaper natural gas clearly ending,” the United States has to enact a strong energy policy to ensure its security and its economic future.