Gas

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.

Natural gas futures were slightly lower but still range bound to finish the week as the July Nymex contract swung in a less than 10-cent band before settling Friday at $1.782, off 4.0 cents day/day. August was down 3.1 cents to $1.886.

Hotter weather couldn’t prevent an ultimate fall in spot gas prices for the June 1-5 period, with markets across the Lower 48 falling week/week. Losses were fairly small, however, andNGI’s Weekly Spot GasNational Avg.was down only 5.0 cents to $1.610.

Hydraulic fracturing expert BJ Services said Thursday it is ready to deploy a next-generation pump in the Permian Basin and Eagle Ford Shale after completing a 1,000-hour field trial in the Haynesville Shale fueled by natural gas.

Many U.S. oil and gas operators may view overseas demand as the best option for growth, but Canada continues to be the largest source of domestic energy imports and the second largest export destination, behind only Mexico, the Energy Information Administration (EIA) said Friday.

Facing a 13.3% national unemployment rate and the negative impacts of continuing Covid-19 mitigation efforts, President Trump on Thursday signed an executive order (EO) directing federal agencies to “take all reasonable measures to speed infrastructure investments and to speed other actions in addition to such investments that will strengthen the economy and return Americans to work,” including setting aside some Endangered Species Act and National Environmental Policy Act restrictions.

After being idled in April, oil and gas producers working in Argentina got back to work in May, according to press reports based on information from services company NCS Multistage.

The U.S. Energy Information Administration (EIA) reported an injection of 102 Bcf natural gas storage for the week ending May 29, coming in at the low end of a range of market estimates and providing Nymex futures a modest lift.

Natural gas futures climbed Wednesday as much of the fundamental supply/demand backdrop became increasingly supportive of prices. Prices rallied strongly early in the session, but then gave up some ground, leaving the July Nymex gas futures contract up 4.4 cents to $1.821. August picked up 3.9 cents to settle at $1.915.