For the second consecutive month, U.S. dry natural gas production increased year/year (y/y) in July to 2.28 Tcf, a 0.5% increase from July 2016, while liquefied natural gas (LNG) exports have more than doubled, according to the Energy Information Administration (EIA).
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Natural gas forward prices for October rose an average 17 cents from Sept. 8-14 as weather forecasts called for warmer-than-normal temperatures to finish out the month, according to NGI’s Forward Look. But the market’s realization that demand destruction caused by Hurricane Irma may have been overestimated also weighed on forwards this week.
Worldwide natural gas consumption is projected to increase to 177 Tcf in 2040 from 124 Tcf in 2015 and account for the largest increase in fossil fuel consumption, but renewable energy resources are picking up the pace, the U.S. Energy Information Administration (EIA) said Thursday.
The Energy Information Administration (EIA) revised its forecast for dry natural gas production from U.S. onshore basins to increase to an average of 73.7 Bcf/d this year, or 1.4 Bcf/d more than in 2016, according to its September Short-Term Energy Outlook (STEO).
Capital spending in the Permian Basin is set to shoot up 400% over the next five years to $40 billion by 2021, as operators raise more rigs and expand development, a Texas industry group said Thursday.
Continental Resources Inc. CEO Harold Hamm said he would use asset sales and reduce activity in the Midcontinent, including the Springer Shale, to pare down long-term debt, which stood at $6.56 billion at the end of June.
U.S. land rig margins increased on average by more than $800/day for Helmerich & Payne Inc. (H&P) during the fiscal third quarter on increased utilization and demand for super-specification rigs.
The American Petroleum Institute (API) reported this week that the estimated total number of oil and natural gas wells drilled and completed during the second quarter increased 62% from the year-ago quarter.
Crude oil exports have inched upward this year, reaching the highest monthly level on record of 1.1 million b/d in February, the Energy Information Administration (EIA) said Tuesday.
Oil and natural gas activity in Texas, northern Louisiana and southern New Mexico increased during the second quarter, albeit at a slightly slower pace than early this year, according to the latest energy survey by the Dallas branch of the Federal Reserve Bank (Fed).