Mexico’s state-owned petroleum company, Petroleos Mexicanos (Pemex), announced Wednesday that it has started producing its first shale gas from a test well in Mexico’s portion of the Eagle Ford Shale play.
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GasMart Panel: Value Means More than Price
Creating value in the supplier/marketer relationship requires knowledge of both the market and potential counterparties, a pair of consultants said during a panel discussion moderated by New York Mercantile Exchange’s (Nymex) Joe Raia, senior vice president of marketing, at GasMart 2008 in Chicago last week.
GasMart Panel: Value Means More than Price
Creating value in the supplier/marketer relationship requires knowledge of both the market and potential counterparties, a pair of consultants said during a panel discussion moderated by New York Mercantile Exchange’s (Nymex) Joe Raia, senior vice president of marketing, at GasMart 2008 in Chicago Wednesday.
NorthernStar LNG Project Hits Land-Use Permit Snag
Consultants to a county planning commission reportedly will recommend denial of a land-use permit for NorthernStar Natural Gas Co.’s Bradwood Landing liquefied natural gas (LNG) terminal site along the Columbia River.
Experts: Extended Cold Weather to Positively Impact Storage
The continuing plunge in temperatures may help deplete some of the natural gas storage glut, but if the temperatures rise in the next couple of weeks, three energy consultants last week said working gas levels in storage may finish the season hovering around 1.7 Tcf or more. Barring production shut-ins from hurricanes and assuming normal weather patterns, one analyst said the storage glut may pressure gas prices through the rest of 2007.
Experts: Storage Levels Still Could Surpass 1.7 Bcf at End of Season
Even with the recent plunge in temperatures, three energy consultants in separate reports Tuesday said working gas levels in storage will likely finish the season at 1.7 Tcf or more. Barring production shut-ins from hurricanes and assuming normal weather patterns, one analyst said the storage glut could put downward pressure on gas prices through the rest of 2007.
Consultants Predict U.S. Gas Production Will Peak Around 2015
A new report by consultants at Boston-based Energy Security Analysis Inc. (ESAI) predicts that domestic gas production will grow by only about 0-2% per year over the next 10 years as new production largely offsets declining production from aging fields. As a result, domestic gas production could reach a peak around 2015.
EEA Sees Even Tighter Supply-Demand Balance, $8.50 Prices in 2007
With gas futures prices topping out at $7.70/MMBtu Thursday, it’s no secret that there is a natural gas supply problem in North America. Consultants at Energy and Environmental Analysis Inc. (EEA) say that problem will get even worse before it gets better, with Henry Hub gas prices averaging $7.50 all of next year and $8.50 in 2007. The current 2007 futures strip is about $1.00 less than that.
Crude Oil, Old Man Winter in Tug of War Over Gas Prices
Consultants at Wakefield, MA-based Energy Security Analysis Inc. (ESAI) said last week that the solid month of weakness in the crude oil market (until Friday’s spike) has kept downward pressure on natural gas prices, but fears of a cold snap and recent winter market history are expected to provide market support at around $6.50/MMBtu.
Energy Consultants Say E&Ps Chasing Smaller Reserves
Producers continue to report record high cash flow on strong oil and natural gas prices, but most of the free cash isn’t going toward new exploration projects, which is a troubling sign, said experts in Houston this week at the Deloitte 2004 Oil & Gas Conference.