Natural gas duked it out with coal at a record pace in 2Q2012, and third-in-a-row hot summer temperatures helped to knock out more of the gas storage overhang, but the rest of the injection season may turn into a delicate tango between coal displacement and low prices, Barclays Capital energy analysts said Thursday. “Sufficient” displacement may not be achieved unless gas prices average in the mid $2 range in September and October, said analysts Shiyang Wang and Michael Zenker.
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Gas, Coal to Tango for Rest of Injection Season, Says Barclays
Natural gas duked it out with coal at a record pace in 2Q2012, and third-in-a-row hot summer temperatures helped to knock out more of the gas storage overhang, but the rest of the injection season may turn into a delicate tango between coal displacement and low prices, Barclays Capital energy analysts said last week. “Sufficient” displacement may not be achieved unless gas prices average in the mid $2 range in September and October, said analysts Shiyang Wang and Michael Zenker.
International Interest Unrelenting for Onshore Gas Reserves
International suitors for North America’s onshore natural gas reserves continue to knock at the door, with India’s Reliance Industries Ltd. last week doubling its stakes in U.S. shales, Abu Dhabi National Energy Co. increasing its stake in Western Canadian gas properties and China National Petroleum Corp. (CNPC) tentatively agreeing to partner with Encana Corp. in British Columbia.
Cold Weather Keeps Pressure on $6 Futures
Natural gas futures continued to knock on the $6 door on Friday as the January contract put in a high of $5.926 in early morning trade. The prompt-month contract ended up closing the day’s regular session at $5.782, up 1.4 cents from Thursday and 61.9 cents higher than the previous week’s close. Over the last two weeks the January contract has gained $1.196.
Forecasted Warm-Up Could Stop Bulls Short of $5
November natural gas futures traders on Monday continued to knock on the $5 resistance door to no avail as the contract reached a high of $4.972 in afternoon trade before closing out the regular session at $4.880, up 11 cents from Friday’s finish.
NEB: Oilsands Consumption to Cut Canadian Gas Exports
Depressed drilling and growing domestic industrial demand could knock a whopping 3.4 Bcf/d, or 21%, off Canadian supplies on the international natural gas market within two years, according to a new report by the National Energy Board
Canadian Gas Exports to Plunge, Says NEB
Depressed drilling and growing domestic industrial demand could knock a whopping 3.4 Bcf/d, or 21%, off Canadian supplies on the international natural gas market within two years, according to a new report by the National Energy Board
Slow Going for Texas’ Massive Post-Ike Electric Restoration
Hurricane Ike caused the largest blackout in Texas history when it roared ashore at Galveston Sept. 14, and it went on to knock out power to millions from the Gulf Coast to the Great Lakes. Nearly two million customers, most in the Houston and Galveston area, remained powerless on Friday, and the utilities serving the region warned that some customers could be without electricity into October.
Scotian Regulatory Changes Amenable to Producers
To increase drilling and knock down barriers to exploration and production, Nova Scotia Minister of Energy Cecil P. Clarke said Tuesday that the province has improved its regulatory processes to collect more royalties and impose fewer penalties.
Scotian Regulatory Changes Amenable to Producers
To increase drilling and knock down barriers to exploration and production, Nova Scotia Minister of Energy Cecil P. Clarke said Tuesday that the province has improved its regulatory processes to collect more royalties and impose fewer penalties.