The price of natural gas may be poised to go as high as $14/Mcf in the near future, according to independent oil billionaire T. Boone Pickens.
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Pickens: Natural Gas Could Hit $14; Cheap Oil Gone Forever
The price of natural gas may be poised to go as high as $14/Mcf in the near future, according to independent oil billionaire T. Boone Pickens.
Canada Producers Group Enumerates Flaws in Royalty Review
The Alberta Royalty Review Panel used flawed data, incorrect costs, misleading activity assumptions and poor international comparisons to put together its oil and natural gas royalty and tax system proposal, according to a technical review by the Canadian Association of Petroleum Producers (CAPP).
CAPP Says Flawed Data, Incorrect Costs Used by Alberta Panel
The Alberta Royalty Review Panel used flawed data, incorrect costs, misleading activity assumptions and poor international comparisons to put together its oil and natural gas royalty and tax system proposal, according to a technical review by the Canadian Association of Petroleum Producers (CAPP).
Futures Gain 4.4 Cents as Traders Mull Next Market Move
Coming in just below industry estimates but well below historical comparisons, the Energy Information Administration (EIA) reported Thursday morning that 23 Bcf was injected into underground natural gas storage for the week ended Aug. 17. Following the report, September natural gas futures inched higher before closing at $5.622, up 4.4 cents from Wednesday.
Natgas Futures Remain Range-Bound Despite Sizeable 58 Bcf Build
Despite coming in on the high side of most industry expectations and well above historical comparisons, the Energy Information Administration’s (EIA) report that 58 Bcf was injected into underground storage for the week ended March 30 was greeted by natural gas futures traders on Thursday morning with a collective yawn. After trading within a range from $7.500 to $7.720, May natural gas futures ended up settling for the week at $7.607, up 9.2 cents on the day but 12.3 cents lower than the previous week’s close.
Despite Near-Record Storage Levels, Futures Push Above $7
Coming in on the high side of many expectations but well below historical comparisons, the 53 Bcf injection into storage last week reported by the Energy Information Administration (EIA) Thursday morning prompted a wide range of near-month prices in the minutes following the report. However, bulls took control in the afternoon, pushing November natural gas futures higher to close at $7.132, up 32.5 cents on the day.
Raymond James: Gas Prices ‘Ugly’ Through Summer, Maybe ‘Well Below $6’ by Fall
A combination of high U.S. natural gas inventories and difficult year-over-year weather comparisons means that gas should continue to trade “at worse” than an 8:1 ratio with crude oil through Oct. 31, Raymond James analysts said in their latest “Stat of the Week.”
Storage’s 92 Bcf Injection Is No Surprise; Futures Drop 10.6 Cents
Coming in well within the range of both industry forecasts and historical comparisons, the Energy Information Administration (EIA) reported Thursday morning that 92 Bcf was injected into underground storage for the week ended June 24.
In Contrary View, Raymond James Sees ‘Fair Value’ for Gas at $10/Mcf
As year-over-year weather comparisons become more favorable and surplus natural gas currently available shrinks on increased demand, the price ratio between oil and gas should “at least” approach Btu parity of 6:1 and possibly get narrower over the next six months, Raymond James analysts said in a new report. With front-end oil futures near $60/bbl, “that means the fair value for gas is about $10/Mcf, not $7.36,” which is the current price of front-month gas futures.