natural gas production

Natural Gas Futures Post Another Gain as More Wintry Weather Awaits

Natural Gas Futures Post Another Gain as More Wintry Weather Awaits

Following a 47.3-cent rally a day earlier, natural gas futures advanced a little further on Tuesday as weather forecasts, while mixed, favored solid demand ahead and Russia injected a fresh dose of uncertainty into the global supply picture. The December Nymex gas futures contract settled at $6.779/MMBtu, up three-tenths of a cent day/day. January rose…

November 23, 2022
December Natural Gas Futures Rally on Coming Cold, Eclipse $6.700 Threshold

December Natural Gas Futures Rally on Coming Cold, Eclipse $6.700 Threshold

Natural gas futures found fresh footing on Monday, as traders mulled an updated relaunch timeline for a major export facility, railroad union members considered a strike, and forecasts pointed to another round of wintry weather in early December. After shedding 6.6 cents on Friday, the December Nymex gas futures contract surged 47.3 cents day/day and…

November 22, 2022
Natural Gas Futures Snap Win Streak Amid Freeport LNG Delays, Weather Shift; Spot Prices Advance

Natural Gas Futures Snap Win Streak Amid Freeport LNG Delays, Weather Shift; Spot Prices Advance

Natural gas futures faltered Friday, ending a four-day win streak built on impressive cold blasts. Traders took profits after the run-up and shifted their attention to the delayed relaunch of a critical export terminal and the potential for milder weather late in November. At A Glance: Key export plant targets December return Market looks for…

November 18, 2022
Natural Gas Futures, Cash Prices Push Ahead as Heating Demand Mounts

Natural Gas Futures, Cash Prices Push Ahead as Heating Demand Mounts

Natural gas futures prices flew higher once again on Thursday, rallying a fourth consecutive day on cold weather and mounting demand that pointed to steep storage withdrawals following what analysts expect was the last reported injection of the year. The December Nymex natural gas futures contract settled at $6.369/MMBtu, up 16.9 cents day/day. January climbed…

November 18, 2022
‘Grass Is Greener’ in Mexico for Industrial Natural Gas Buyers, Says BP Exec

‘Grass Is Greener’ in Mexico for Industrial Natural Gas Buyers, Says BP Exec

Mexico’s industrial natural gas consumers are adopting more sophisticated procurement strategies and seeking to lock in relatively cheap U.S. prices for as long as possible,  according to BP plc’s Pedro Elio, head of origination for BP’s Mexico gas marketing business. Elio spoke Tuesday at LDC Forums’ US-Mexico Natural Gas Forum in San Antonio, TX. BP…

November 18, 2022
Natural Gas Futures Climb Third Straight Day on Cold Weather

Natural Gas Futures Climb Third Straight Day on Cold Weather

Natural gas futures edged higher again on Wednesday, extending a rally to three days, as traders ultimately paid more attention to robust heating demand than the protracted shutdown of a key export facility and the likelihood of a relatively robust storage injection. The December Nymex gas futures contract settled at $6.200/MMBtu, up 16.6 cents day/day.…

November 17, 2022
Diamondback Strikes $1.55B Deal to Bolt On More West Texas Oil, Gas Assets in Permian

Diamondback Strikes $1.55B Deal to Bolt On More West Texas Oil, Gas Assets in Permian

Permian Basin pure-play Diamondback Energy Inc. has clinched a stock-and-cash agreement estimated at $1.55 billion to acquire the West Texas assets of Lario Permian LLC.  In exchange for 4.18 million shares of common stock and $850 million cash, Diamondback is set to take over the Lario Oil & Gas Co. subsidiary’s Permian Midland sub-basin assets…

November 17, 2022
EOG Attributes ‘Growing Multi-Basin Portfolio’ to Sustainable Value Creation

EOG Attributes ‘Growing Multi-Basin Portfolio’ to Sustainable Value Creation

EOG Resources Inc. expects the Utica Shale in Appalachia “to be its next large-scale premium resource play” following the acquisition of 395,000 net acres and 135,000 mineral acres for a combined cost of less than $500 million, management said.  The Houston-based exploration and production firm unveiled the acquisition alongside its third quarter earnings. The acreage…

November 16, 2022
December Natural Gas Futures, Cash Prices Rally as Winter Chill Offsets Freeport Confusion

December Natural Gas Futures, Cash Prices Rally as Winter Chill Offsets Freeport Confusion

Natural gas futures recovered Monday as weather shifted substantially colder, driving heating demand and offsetting festering concerns about the relaunch of a key export facility. The December Nymex gas futures contract settled at $5.933/MMBtu, up 5.4 cents day/day. January gained 3.6 cents to $6.299. At A Glance: Forecasts call for enduring freeze Export capacity remains…

November 15, 2022
Winter Henry Hub Slashed in Latest EIA Outlook; Brent to Average $94 in 1H2023

Winter Henry Hub Slashed in Latest EIA Outlook; Brent to Average $94 in 1H2023

With storage refilling at a faster-than-expected clip ahead of winter, the Energy Information Administration (EIA) has slashed its projected natural gas spot price for the remainder of 2022 and the first quarter of 2023. EIA now expects Henry Hub spot prices to average around $6/MMBtu for 4Q2022 and 1Q2023, a discount of more than $1…

November 10, 2022
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