natural gas production

North American E&P Spend Seen Moderating, but Still Up by Double-Digits in 2023

North American E&P Spend Seen Moderating, but Still Up by Double-Digits in 2023

Only a few U.S.-based exploration and production (E&P) companies have provided formal capital spending plans for 2023, but expenditures overall are forecast to decelerate from a year ago. E&P executives are surveyed twice a year by Evercore ISI to determine the level of capital expenditures (capex) and activity, which often are revised. Respondents indicated that…

January 12, 2023
Natural Gas Futures Claw Out Rare 2023 Gain; Spot Prices Sputter

Natural Gas Futures Claw Out Rare 2023 Gain; Spot Prices Sputter

Natural gas futures traded in negative territory most of Wednesday – and have declined all but three sessions so far this year – amid a persistently potent warm-weather pattern that squashed demand across much of the Lower 48. At A Glance: BREAKING: U.S. EIA reports 11 Bcf storage injection for week ended Jan. 6 Late-month…

January 12, 2023
Natural Gas Futures, Spot Prices Weaken as Weather Warms

Natural Gas Futures, Spot Prices Weaken as Weather Warms

Natural gas futures fumbled away momentum like any college football opponent of Georgia, with the February Nymex gas futures contract dropping 27.1 cents day/day amid forecasts for more bearish weather and meager storage pulls. The prompt month settled at $3.639/MMBtu on Tuesday, erasing the prior session’s 20.0-cent gain. March lost 24.9 cents to $3.314. The…

January 11, 2023
Talos Strikes Oil, Natural Gas from Two Discoveries in Deepwater GOM

Talos Strikes Oil, Natural Gas from Two Discoveries in Deepwater GOM

Houston-based Talos Energy Inc. has unearthed oil and natural gas at two U.S. prospects in the deepwater Gulf of Mexico (GOM).  The Lime Rock and Venice prospects “both successfully discovered commercial quantities” during sequential drilling operations in the final three months of last year, management said.  Talos holds a 60% working interest in the two…

January 11, 2023
Global Reshuffle Presents 2023 Opportunities for Risk-Takers in Mexico’s Natural Gas Sector

Global Reshuffle Presents 2023 Opportunities for Risk-Takers in Mexico’s Natural Gas Sector

In 2023, Mexico’s natural gas industry will be shaped by public-private partnerships and the shifting landscape brought about by Russia’s invasion of Ukraine. Political risk for private and international firms, meanwhile, remains high. Last year, President Andrés Manuel López Obrador’s team said they would carry out costly infrastructure works in conjunction with the private sector.…

January 10, 2023
February Natural Gas Futures Bounce Back, Bolstered by Bargain Hunters

February Natural Gas Futures Bounce Back, Bolstered by Bargain Hunters

Natural gas futures found their way forward on Monday, marking only the second advance of 2023 so far. At A Glance: Demand forecast improves Production remains elevated Market sees weak storage print After losing 17% the week prior amid forecasts for the mildest January weather in nearly two decades, the February Nymex gas futures contract…

January 10, 2023
Natural Gas Futures Flounder to Extend Slump; Western Cash Prices Hold Strong

Natural Gas Futures Flounder to Extend Slump; Western Cash Prices Hold Strong

Natural gas futures seesawed in a narrow range of gains and losses much of Friday before ultimately finishing in the red for the third time in four sessions. Following a 45.2-cent sell-off in the previous session, February Nymex gas futures on Friday lost 1.0 cent day/day and settled at $3.710/MMBtu. The March contract shed 3.4…

January 6, 2023
Natural Gas Futures Rebound Wednesday, but Forecasts Show Unseasonably Mild Weather

Natural Gas Futures Rebound Wednesday, but Forecasts Show Unseasonably Mild Weather

Natural gas futures found fresh footing in positive territory Wednesday, marking the first gain of 2023, amid estimates for a massive storage withdrawal report. At A Glance: BREAKING: U.S. EIA reports bearish 213 Bcf withdrawal from storage for week ending Dec. 30 Warm weather ahead Outlook shows fading heating demand After dropping 48.7 cents in…

January 5, 2023
Natural Gas System Dented but Robust Amid Storm as Futures Prices Slump – Mexico Spotlight

Natural Gas System Dented but Robust Amid Storm as Futures Prices Slump – Mexico Spotlight

Mexico’s natural gas market made it relatively unscathed through the brutal winter storm that lashed most of the United States. On Christmas Day, Comisión Federal de Electricidad (CFE) said power had been restored to 175,894 users in the states of Tamaulipas, San Luis Potosí and Veracruz. They lost service from disruptions related to the cold…

December 29, 2022
Mexico Natural Gas Production Jumps by 400 MMcf/d in November

Mexico Natural Gas Production Jumps by 400 MMcf/d in November

Mexico’s natural gas production continued to surprise in November, rising to 4.431 Bcf/d from 3.872 Bcf/d in the same month last year. Production was also up considerably compared to the 4.04 Bcf/d in October, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Production averaged 4.079 Bcf/d through the first eleven…

December 27, 2022