Appalachian pure-play Cabot Oil & Gas Corp. plans to keep year/year production flat in 2021 and cut spending, despite what management believes is likely to be a better year for natural gas producers. In formally releasing its plans for this year, the company reiterated preliminary guidance unveiled in October to move through 2021 in maintenance…
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Articles from natural gas production
Major Weekend Cold Shift for Models Propels Natural Gas Futures Sharply Higher Early
Natural gas futures were soaring higher in early trading Monday after a bullish shift in forecasts over the weekend raised the prospect of upcoming cold reaching more populated areas of the eastern Lower 48. The March Nymex contract was up 19.5 cents to $2.759/MMBtu at around 8:45 a.m. ET. Over the weekend weather models increased…
CNX Reports Record-Breaking Fourth Quarter Despite Pandemic
Despite a volatile year marred by the Covid-19 pandemic, CNX Resources Corp. said it finished strong, delivering on a more cautious approach implemented early in 2020 when the virus spread across the world and weighed on energy demand. “2020 marked the most successful year we’ve seen as an” exploration and production company, “and frankly, as…
Permian Gains Another Natural Gas Conduit as 1.8 Bcf/d Agua Blanca Ramps Up
WhiteWater Midstream and MPLX LP announced Wednesday the completion of a substantial natural gas pipeline expansion in the Permian Basin that delivers gas to the Waha hub in Texas for production. The 1.8 Bcf/d Agua Blanca expansion has entered commercial service and connects nearly 20 gas processing sites in the Delaware sub-basin of the Permian,…
European Model Trends Warmer as Natural Gas Futures Retreat Early
Natural gas futures retreated early Thursday as one of the major weather models trended warmer, while upcoming government inventory data was expected to take a backseat to forecasts in terms of influencing future price action. The March Nymex contract was down 4.4 cents to $2.658/MMBtu at around 8:45 a.m. ET. Selling corresponded to changes in…
Still Room for Significant Natural Gas Growth in Mexico, Say Industry Experts
Natural gas in Mexico continues to be underutilized, according to industry participants who spoke last week at Industry Exchange LLC’s 6th Mexico Infrastructure Projects Forum. CEO José García Sanleandro of Gas Natural México (Naturgy Mexico), the local subsidiary of Spain’s Naturgy Energy Group, said the level of residential users has hardly budged over the last…
Mexico’s Leading Private Natural Gas Producer Secures 2021 Work Plan Approval
Mexico’s upstream oil and gas regulator Comisión Nacional de Hidrocarburos (CNH) on Tuesday approved three exploration and production (E&P) work plans for 2021 that entail combined investment of $115.7 million. Servicios Múltiples de Burgos, S.A. de C.V. (SMB), a 50/50 joint venture between Tecpetrol SA and Industrial Perforadora de Campeche (IPC), obtained the green light…
Proved U.S. Oil, Gas Reserves Halt Two-Year Uptrend, Says EIA
A two-year trend of rising proved reserves of oil and natural gas in the United States hit a snag in 2019 as prices declined, according to the Energy Information Administration (EIA). Proved reserves of oil increased 367 million bbl in 2019, while proved reserves of lease condensate produced from gas wells dropped 313 million bbl,…
Forecasts Shift Warmer Over Weekend as Natural Gas Futures Slide
Warming trends from forecasts over the weekend, albeit with hints of potential colder temperatures for key U.S. regions later this month, pressured natural gas futures lower in early trading Monday. The February Nymex contract was down 3.8 cents to $2.662/MMBtu at around 8:45 a.m. ET. After previously offering different outlooks on the upcoming pattern, the…
February Natural Gas Futures Claw Out Another Gain, Keep 2021 Momentum Rolling; Cash Prices Advance
Natural gas prices traded sideways much of Thursday before creeping upward and ultimately finishing in positive territory. Traders assessed a storage withdrawal that fell short of expectations against continued strong U.S. liquefied natural gas (LNG) exports and the potential for colder domestic temperatures later in January. The February Nymex gas futures contract settled at $2.729,…