Haynesville

Natural Gas Output from Appalachia, Haynesville Seen Falling Further into Early Summer

Natural Gas Output from Appalachia, Haynesville Seen Falling Further into Early Summer

Combined natural gas production from seven key Lower 48 plays is expected to ease lower in June, with declines from gas-weighted plays continuing to offset increasing associated output from the Permian Basin, according to updated projections from the U.S. Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, EIA said it…

May 14, 2024
BP Playing Contrarian on Low Natural Gas Prices, as Haynesville Output ‘Hedged Out’ through 2024

BP Playing Contrarian on Low Natural Gas Prices, as Haynesville Output ‘Hedged Out’ through 2024

BP plc will continue to pump out “prolific” natural gas volumes from the Haynesville Shale as hedges are in place pricing the supply at around $4.00/Mcf through this year, CEO Murray Auchincloss said Tuesday.  Auchincloss discussed first quarter performance during a conference call. He was asked why domestic gas volumes continue to be high in…

May 8, 2024
Chesapeake ‘Encouraged’ by Natural Gas Demand Signals as Production Cuts Continue

Chesapeake ‘Encouraged’ by Natural Gas Demand Signals as Production Cuts Continue

Chesapeake Energy Corp. said Wednesday it would continue to curtail natural gas output until demand rebounds, forecasting another 400 MMcf/d of cuts in the second quarter.  The company first announced the cuts in February and said they would mostly come by not turning wells in progress to sales. Chesapeake curbed 200 MMcf/d of output during…

May 1, 2024
U.S. Down Three Natural Gas Rigs in BKR’s Latest Count

U.S. Down Three Natural Gas Rigs in BKR’s Latest Count

The U.S. natural gas rig count slid to 106 for the week ending Friday (April 19), down three rigs from the week prior and down 53 rigs year/year, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). The addition of five rigs in the oil patch lifted the combined U.S. rig…

April 19, 2024
Production from Natural Gas Plays to Continue Declining This Spring, EIA Says

Production from Natural Gas Plays to Continue Declining This Spring, EIA Says

Natural gas production from seven key Lower 48 regions tracked by the U.S. Energy Information Administration (EIA) will slide from April to May, driven by declines in the Haynesville Shale and the Appalachian Basin. EIA’s latest Drilling Productivity Report (DPR), published Monday, modeled a combined 99.9 Bcf/d of natural gas output in May from seven…

April 16, 2024
U.S. Drops Two More Natural Gas Rigs as Haynesville Activity Slows, BKR Data Show

U.S. Drops Two More Natural Gas Rigs as Haynesville Activity Slows, BKR Data Show

Including activity declines in the Haynesville Shale, the U.S. natural gas rig count skidded to 110 for the week ended Friday (April 5), down two week/week, updated numbers from Baker Hughes Co. (BKR) show. Total active U.S. natural gas rigs finished the week well shy of the 158 rigs running at this time a year…

April 5, 2024
Next Big Thing for U.S. Natural Gas Demand? Power-Hungry Data Centers, Say Williams Execs 

Next Big Thing for U.S. Natural Gas Demand? Power-Hungry Data Centers, Say Williams Execs 

The U.S. natural gas demand story has been geared to LNG growth, but there’s another story that could become even bigger: fueling a proliferation of computer data centers. The power-intensive artificial intelligence (AI) computer warehouses are to be fueled mostly by abundant and reliable domestic natural gas. It’s the next big thing, according to Williams…

March 21, 2024
Jones Cowboys Up Another $100M to Gain Two-Thirds Control of Haynesville Giant Comstock

Jones Cowboys Up Another $100M to Gain Two-Thirds Control of Haynesville Giant Comstock

Dallas Cowboys owner Jerry Jones, already majority shareholder in Haynesville Shale pure-play Comstock Resources Inc., has agreed to invest an additional $100.5 million into the company. Two Jones entities agreed to acquire 12.5 million shares of common stock in the private placement at $8.036/share. The price represents the average closing prices for the five trading…

March 21, 2024
Marcellus-Focused Range Resources Eyeing Flat Natural Gas Output Amid ‘Incredibly Challenging’ Prices

Marcellus-Focused Range Resources Eyeing Flat Natural Gas Output Amid ‘Incredibly Challenging’ Prices

Appalachian Basin pure play Range Resources Corp. is targeting flat production growth in 2024 with a focus on natural gas liquids (NGL) to offset weak natural gas pricing, management said Thursday. “Near-term prices are obviously incredibly challenging for the industry, and we expect these historically low price levels should help keep a lid on natural…

February 26, 2024
Comstock Shedding Rigs, Suspending Dividend Amid Natural Gas Price Slump

Comstock Shedding Rigs, Suspending Dividend Amid Natural Gas Price Slump

Haynesville Shale pure-play Comstock Resources Inc. is pumping the brakes on natural gas drilling and shareholder distributions because of low commodity prices. “In response to weak natural gas prices, Comstock plans to suspend its quarterly dividend until natural gas prices improve,” management said. “In addition, the company plans to reduce the number of operating drilling…

February 14, 2024
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