inside

Anadarko Basin independent Templar Energy LLC has filed for Chapter 11 bankruptcy protection, joining a growing list of distressed operators amid the sharpest oil market downturn in recent memory.

Editors Note: Please enjoy this bonus coverage from NGI’s Mexico Gas Price Index, which includes daily prices, analysis and coverage of the emerging natural gas market in Mexico.Request a Trial | Subscribe

Despite vowing to stick to production goals, Mexico’s Petróleos Mexicanos (Pemex) produced significantly less oil and gas than it had planned at its so-called “priority fields” in the first quarter, according to new information made available by hydrocarbons regulator Comisión Nacional de Hidrocarburos (CNH).

A mild start to the summer, combined with demand that continues to struggle amid the coronavirus pandemic, weighed down June natural gas bidweek prices. Although pockets of heat boosted prices in California, small losses were seen in most markets across the Lower 48, sending NGI’s June Bidweek National Avg. down 8.5 cents to $1.545/MMBtu.

Temperatures across the United States may be pleasant, but that hasn’t stopped power burns from coming in strong and boosting NGI’s Weekly Spot Gas National Avg. up by 4.5 cents to $1.660 for the May 25-28 period.

Natural gas futures continued to slide Thursday as the latest government storage data failed to reflect enough tightening in the supply/demand balance to support prices. The July Nymex contract, on its first day in the prompt-month position, settled 5.9 cents lower at $1.827/MMBtu. August fell 5.3 cents to $1.919.

U.S. oil prices were tracking on Friday toward a 76% gain for the month of May as shut-in wells and a pullback in activity pushed prices higher, but a rebound for the energy sector is expected to be neither swift nor even.

A roundup of news and commentary from NGI’s LNG Insight

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following question-and-answer (Q&A) column as part of a regular interview series with experts in the Mexican natural gas market.