February

In the story “U.S. LNG Exports Set New High in February,” the Department of Energy (DOE) data cited is through February, which was released a month ago. DOE’s latest LNG Monthly, released Monday with data through March, shows that Lower 48 exports declined from February to March.

The story “Sabine Pass Exports Reached New High in February” included an inaccurate count of the number of cargos sent from the Louisiana liquefied natural gas export terminal during January and February, as it failed to account for cargos with multiple destinations or contract terms. During each month 15 cargos were sent from the terminal. NGI regrets the error.

The United States added nine land-based rigs along with one in the inland waters and two in the offshore to make for a net U.S. gain of one-dozen rigs, according to Baker Hughes Inc. (BHI) in its report for the week ending March 10.

The United States added nine land-based rigs along with one in the inland waters and two in the offshore to make for a net U.S. gain of one-dozen rigs, according to Baker Hughes Inc. (BHI) in its report for the week ending March 10.

A cold weather system that was sweeping across much of the United States helped launch February natural gas forwards markets up an average of 10 cents between Jan. 20 and 26, according to NGI’s Forward Look.

Oil and natural gas production from seven of the nation’s largest unconventional plays is expected to increase slightly next month, as is new-well production per rig, according to data from the U.S. Energy Information Administration (EIA).

After swinging throughout the week, much like weather forecasts, natural gas forwards and futures markets turned decidedly bullish on Thursday after a much larger-than-expected storage report, lifting February forwards prices up an average 17 cents that day and up an average 10 cents between Jan. 6 and 12, according to NGI’s Forward Look.

February natural gas is set to open unchanged Wednesday morning at $3.28 as traders adopt a “show me” approach to continued market gains. Overnight oil markets rose.

February natural gas is set to open 9 cents lower Monday morning at 3.20 as forecasters grope for hints of returning cold. Overnight oil markets tumbled.