Louisiana

Natural Gas Futures, Cash Prices Soar Above $5.00 as Nicholas Amplifies Production Worries

Natural Gas Futures, Cash Prices Soar Above $5.00 as Nicholas Amplifies Production Worries

Natural gas futures surged on Monday as a new tropical storm threatened to further shake the Gulf of Mexico’s (GOM) production foundation, a development that could hamper supply/demand balances at a time when gas in storage for winter is already light. The October Nymex contract cruised 29.3 cents higher day/day and settled at $5.231/MMBtu. November…

September 13, 2021
Talos Working with Authorities to ID Owner of Leaking GOM Oil Pipeline

Talos Working with Authorities to ID Owner of Leaking GOM Oil Pipeline

Talos Energy Inc. is working with state and federal authorities to identify the owner of an oil pipeline that appears to be leaking in Louisiana state waters. The Houston-based independent exploration and production (E&P) company on Tuesday said it continued to lead the efforts to contain and control the oil release, which likely occurred following…

September 8, 2021
Wyoming Groups Aiming to Speed Up Resumption of Federal Oil, Natural Gas Leasing

Wyoming Groups Aiming to Speed Up Resumption of Federal Oil, Natural Gas Leasing

Wyoming’s two main oil and gas trade groups are seeking to expedite the resumption of oil and gas leases on federal property by the Department of the Interior (DOI). In a merits brief filed Aug. 30 in Wyoming District Court, the Western Energy Alliance and the Petroleum Association of Wyoming (PAW) allege that DOI is…

September 8, 2021
Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Hurricane Ida may be long gone, but bitter memories of its torrid march through the Gulf of Mexico (GOM) and into the Lower 48 were slowing recovery efforts by the natural gas and oil industry. Producers that work offshore were struggling to return crews to platforms and rigs on Friday. Extensive damage in Louisiana’s Houma…

September 3, 2021
Natural Gas Forward Prices Explode as Ida Adds to ‘Precarious’ Storage Outlook

Natural Gas Forward Prices Explode as Ida Adds to ‘Precarious’ Storage Outlook

Though long gone from the Gulf Coast, Hurricane Ida’s devastation continued across the eastern United States ahead of the Labor Day weekend, wiping out significant production and causing widespread power outages along the way. Supply’s slow expected recovery fueled bullish momentum across natural gas forward curves for the trading period ending Sept. 1, resulting in…

September 3, 2021
Southwestern Completes $2.7B Indigo Takeover as Haynesville Interest Heats Up

Southwestern Completes $2.7B Indigo Takeover as Haynesville Interest Heats Up

Southwestern Energy Co. has completed its $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC. The deal completed Wednesday gives Southwestern a sizable footprint in the resurgent Louisiana play, improving the firm’s access to Gulf Coast liquefied natural gas (LNG) export markets. “This acquisition materially expands our opportunity set, adding high-margin Haynesville production…

September 2, 2021
Post-Ida Oil, Natural Gas Production Still Offline; Power Restoration Called ‘Marathon, Not a Sprint’

Post-Ida Oil, Natural Gas Production Still Offline; Power Restoration Called ‘Marathon, Not a Sprint’

Assessing the damage in the wake of Hurricane Ida continued Tuesday, with the number of power outages and shut-in Gulf of Mexico (GOM) natural gas and oil production virtually unchanged. In fact, power outages for utility customers in the direct path of Ida may last three weeks or longer, Louisiana’s largest provider Entergy Corp. said.…

August 31, 2021
Natural Gas Futures, Cash Prices Fall as Ida Slashes Demand; Storm Tees Up ‘Tame September’

Natural Gas Futures, Cash Prices Fall as Ida Slashes Demand; Storm Tees Up ‘Tame September’

Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from…

August 30, 2021
Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

Oil and natural gas companies scrambled on Monday to determine the extent of damage to refineries, pipelines and offshore platforms in the immediate aftermath of the former Hurricane Ida, which made landfall in Louisiana packing winds near 150 mph. Ida battered Louisiana Sunday night as a Category 4 hurricane, delivering storm surges and flooding rains.…

August 30, 2021
Most GOM Natural Gas, Oil Still Offline as Entergy Foresees Power Outages ‘For Weeks’ After Ida

Most GOM Natural Gas, Oil Still Offline as Entergy Foresees Power Outages ‘For Weeks’ After Ida

Ida came in like the major hurricane she was, temporarily reversing the course of the Mississippi River and shutting down nearly all of the natural gas and oil produced in the Gulf Mexico (GOM). The aftermath also is looking to be long and difficult as thousands of people may be without power into the fall.…

August 30, 2021
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