Decline

The chances for a sustained recovery in global natural gas demand are being threatened by economies that have been slow to start back up as countries inch out of lockdown and face a resurgence of Covid-19 cases in some parts of the world, according to shipbroker Poten & Partners. Industrial demand remains weak in key…

After soaring to record levels in March, natural gas deliveries to U.S. export facilities plummeted by more than half only two months later as Covid-19 amplified demand destruction resulting from a mild winter, according to the Energy Information Administration (EIA). The EIA said feed gas deliveries to liquefied natural gas (LNG) production terminals fell to…

Feed gas deliveries to U.S. liquefied natural gas (LNG) export terminals finally jumped back up on Monday after sitting below 4 Bcf/d for nearly two weeks. For the evening cycle for Monday’s gas day, Genscape Inc. estimates showed a 550 MMcf day/day jump in feed gas demand to more than 4 Bcf/d overall.  “Most notably,…

The historic slump in oil drilling is likely to result in the largest monthly decline in completions activity ever recorded in the United States, according to an analysis by Rystad Energy.

For the first time in three years, the Energy Information Administration (EIA) is predicting a month-to-month decline in total natural gas production from seven of the most prolific onshore U.S. unconventional plays in March, and oil production is expected to remain virtually flat.

North America’s unconventional supply is expected to grow even with stagnant oil prices, according to Rystad Energy forecasts.

Surging onshore oil production wrested from wells using unconventional drilling techniques may have reached its maximum level and could decline as producers deal with well interference and “rock quality deterioration.”

The U.S. rig count fell by five units for the week ended Friday thanks to a drop in both oil and natural gas activity, including declines in the Haynesville and Eagle Ford shales and in the Williston Basin, according to data from Baker Hughes Inc.

The last North American rig count of 2017 went out with a whimper instead of a bang as the number of rigs actively drilling for oil and gas for the week ending Dec. 29 declined by two units to 929, according to Baker Hughes data.