Falling

The economic slowdown, falling prices and overwhelming onshore production aren’t enough to deter more liquefied natural gas (LNG) from heading to North American shores, but the Russia-Ukraine gas dispute could prove consequential for the Atlantic Basin’s business later this year, energy consultants said last week.

The economic slowdown, falling prices and overwhelming onshore production aren’t enough to deter more liquefied natural gas (LNG) from arriving on North American shores beginning this year, an energy consultant said Thursday.

The cash market was approximately evenly split between rising and falling points Monday, but multi-dollar plunges at Northeast citygates definitively tilted the overall balance toward the bearish side. Blizzard-like conditions were forecast to continue in the Midwest, but the Northeast, South and much of the West would be relatively moderate for a day or two before the Northeast and Southeast begin to feel the pinch of severe winter weather.

The U.S. natural gas rig count is falling, as expected, but the horizontal drilling rig count has begun to markedly decline, with the last week of December reporting the largest single-week loss for the shale-directed rigs since 1991.

The U.S. natural gas rig count is falling, as expected, but the horizontal drilling rig count has begun to markedly decline, with the Dec. 26 report indicating the largest single-week loss for the shale-directed rigs since 1991.

After falling 20.3 cents on Wednesday and Thursday despite a winter freeze in a number of U.S. regions and a fairly bullish storage withdrawal, January natural gas futures continued the push on Friday by putting in a new low at $5.267 in afternoon trading before settling at $5.334, down 21.4 cents from Thursday’s finish and 15.4 cents lower than the previous week’s close.

Despite falling commodity prices, the deepwater U.S. Gulf of Mexico (GOM) will capture about 20% of oil and natural gas spending over the next five years, with the global spending averaging more than $27 billion a year between 2009 and 2013, according to a study by UK-based Douglas-Westwood.

Despite falling commodity prices, the deepwater U.S. Gulf of Mexico (GOM) will capture about 20% of oil and natural gas spending over the next five years, with the global spending averaging more than $27 billion a year between 2009 and 2013, according to a study by UK-based Douglas-Westwood.

Chesapeake Energy Corp.’s shares took another tumble Wednesday after the company cut its cash flow outlook for the next two years on falling natural gas prices.