Western Canada producers are selling off a surplus of steeply discounted natural gas that piled up during a prolonged pipeline service interruption last year.
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Industrial Sector Rocketing NatGas Prices Longterm, Says Raymond James
The revival of the U.S. industrial sector will be “the most significant driver” to higher long-term natural gas prices, lifted by new ethylene crackers, ammonia plants and natural gas-to-liquids (GTL) facilities fed by unconventional natural gas, according to an analysis by Raymond James & Associates Inc.
Chesapeake CEO Confident of Asset Sales; Shares Strengthen
Chesapeake Energy Corp.’s stock price jumped on Monday after the company secured a $3 billion term loan and CEO Aubrey McClendon expressed confidence in the company’s ability to complete planned property sales this year to bridge an estimated $10 billion funding gap. In addition, an estimated $1 billion volumetric production payment (VPP) in the Eagle Ford Shale has been sidelined in favor of more noncore asset sales.
FERC: Shale Production Keeping Gas Prices Low
Natural gas production from the nation’s shale plays now accounts for more than one-quarter of U.S. production, compared with 5% in 2007, and is helping to keep gas prices among the lowest in a decade, according to FERC’s Office of Enforcement (OE).
Futures Drop on Eve of Inventory Data
June natural gas futures posted nearly a double-digit loss Wednesday as traders discount expected additions to inventories below historical norms and note a weakening technical outlook. At the close June had fallen 9.3 cents to $4.577 and July had weakened 9.4 cents to $4.644. June crude oil swooned $1.81 to $109.24/bbl.
EQT Official: Industry Must Educate ‘One-on-One’
The Marcellus Shale industry shouldn’t discount new regulations outright, according to the head of one major midstream player.
EQT Official: Industry Must Educate ‘One-on-One’
The Marcellus Shale industry shouldn’t discount new regulations outright, according to the head of one major midstream player.
Traders to Reassess Bullish Strategies; Futures Mixed
March natural gas futures eased Tuesday as traders elected to discount both supportive weather reports and sharply higher oil prices caused by strife in North Africa and the Middle East. March fell 0.9 cent to $3.867 and April added 0.1 cent to $3.907. March crude oil bounded higher $7.37 to $93.57/bbl.
Hefty Storage Pull Factored In; March Seen 4 Cents Lower
March natural gas futures are expected to open 4 cents lower Friday morning at $5.36 as traders discount a government storage report expected to show an above-normal weather-driven storage pull. Overnight petroleum markets weakened.
Hefty Storage Pull Factored In; March Seen 4 Cents Lower
March natural gas futures are expected to open 4 cents lower Friday morning at $5.36 as traders discount a government storage report expected to show an above-normal weather-driven storage pull. Overnight petroleum markets weakened.