Protracted low West Texas Intermediate (WTI) oil prices may lead exploration and production operators to look beyond the Permian Basin to make up for a shortfall in associated gas to service domestic demand and export needs, giving other Lower 48 areas a needed boost, the International Energy Agency (IEA) said Wednesday.
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Covid-19 Claims Another Lower 48 Operator as Vista Proppants Seeks Chapter 11
Fracture sand provider Vista Proppants & Logistics LLC has filed for bankruptcy protection, citing financial pressures related to the coronavirus pandemic.
June 11, 2020
NGI The Weekly Gas Market Report
Mexico’s Cenagas Focuses on Southeast, Industrials in New Consulta Pública
Mexico’s Centro Nacional de Control del Gas Natural (Cenagas) has launched the Consulta Pública 2020 with a specific focus this year on the natural gas needs of the south and southeastern parts of the country and industrial users.
June 11, 2020
Soft LNG Outlook Weighs Further on Natural Gas Futures
Natural gas futures dipped into the red early Tuesday and remained there on demand concerns tied to mixed weather forecasts and diminished natural gas exports. The July Nymex contract settled at $1.767/MMBtu, down 2.2 cents day/day. August was down 2.9 cents to $1.863.
June 10, 2020
NGI The Weekly Gas Market Report
New Infrastructure, Capacity Releases in Mexico Seen Further Boosting Waha Natural Gas Prices
A slowdown of crude oil and associated natural gas production in the Permian Basin, combined with new infrastructure and capacity releases in Mexico, could help narrow the discount of Waha natural gas prices to Henry Hub over the coming months and years, according to NGI’s Patrick Rau, director of strategy and research.
June 10, 2020
Latin American Rig Count in May Plummets to Lowest Level Since 1982, but Mexico Still Active
Driven by plummeting oil prices and the shutdown of local economies from the coronavirus pandemic, Latin America’s rig count fell a further 27 rigs month/month to 62 in May, according to the latest figures from Baker Hughes Co.
June 9, 2020
As Oil Demand Begins Recovery, ConocoPhillips CEO Says Lower 48 Output Unlikely to Return to Pre-Covid Levels
Global oil demand has begun to recover from the impacts of a still raging pandemic, but Lower 48 upstream activity is unlikely to return to pre-Covid levels anytime soon, if at all, according to ConocoPhillips CEO Ryan Lance.
June 9, 2020
U.S. Natural Gas Permitting in May Falls Most in Decade while Permian Suffers Largest Monthly Decline
The Permian Basin in May reported the largest monthly decline in oil and gas permits ever, down 47% from April, as applications by large-cap operators fell to their lowest levels in history, off by almost three-quarters, Evercore ISI said Tuesday.
June 9, 2020
Massachusetts AG Calls for Investigation to Potentially Phase Out Natural Gas Use
Massachusetts Attorney General (AG) Maura Healey last Thursday asked the state’s Department of Public Utilities (DPU) to open an investigation into phasing out natural gas amid the transition toward alternative fuels by 2050.
June 9, 2020
NGI The Weekly Gas Market Report
Another Rough Road in 1Q2020 for Top U.S. Natural Gas Marketers
The year started as 2019 had ended for leading natural gas marketers, with 1Q2020 continuing the sales declines that have hampered the industry for four consecutive quarters, according to NGI’s Top North American Natural Gas Marketers rankings.
June 9, 2020
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