Lower 48 oil and natural gas production is on the rise, particularly in the Permian Basin, but shortages of labor, materials and equipment will prevent a rapid supply response to current market tightness, according to experts. The Biden administration has called on U.S. producers to ramp up supply in order to lower gasoline prices and…
natural gas production
Articles from natural gas production
American Noble to Explore for Natural Gas in Kansas’ Hugoton Field
American Noble Gas Inc. has agreed to acquire a 40% participation in a farmout agreement with an unspecified operator in the Hugoton natural gas field in Haskell and Finney Counties, KS. The Kansas-headquartered independent exploration and production (E&P) company would join three other partners to explore for and develop oil and gas and brine reserves…
Bulls Extend Run to Four Weeks as U.S. Natural Gas Surges to $7.00 – Mexico Spotlight
North American natural gas futures continued to push higher last week as production and storage worries combined with strong global demand pushed futures prices over $7.00/MMbtu. That’s four straight weeks of rising natural gas prices as energy markets remain in turmoil following Russia’s unprovoked invasion of Ukraine. On Wednesday, the New York Mercantile Exchange prompt-month…
Bull Stampede Continues on Supportive Near-Term Fundamentals, Cash Stays Strong
One day removed from choppy price action along the Nymex natural gas futures strip, May prices forged ahead midweek. With traders looking ahead to a smaller-than-normal increase in storage inventories, the prompt-month contract soared to a $7.005/MMBtu intraday high before settling Wednesday at $6.997, up 31.7 cents on the day. June futures rallied 33.3 cents…
EIA Forecasting $5.23 Henry Hub Natural Gas Price, U.S. Production Uptick in 2022
U.S. dry natural gas production should average 96.9 Bcf/d in April and 97.4 Bcf/d for full-year 2022, which would reflect a 3.8 Bcf/d increase over 2021 levels, according to updated forecasting from the Energy Information Administration (EIA). As the market has keyed in on supply adequacy fears and sent prices soaring well above $6.500/MMBtu this…
Natural Gas Futures Eke Out Small Price Gain, with Further Increases Likely
After a bit of hesitation, natural gas futures notched another day in the green as production declined and weather models aligned in showing a cooler-than-normal pattern that would keep hefty storage deficits intact throughout the month. The May Nymex contract settled at $6.680/MMBtu, up 3.7 cents day/day. June futures climbed 4.0 cents to $6.763. Spot…
Is Shift Ahead for North America’s Natural Gas Market? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow for a review of supply/demand fundamentals affecting North American natural gas prices today and what they could mean for the market in the near future. In the podcast, NGI’s Patrick Rau, director of Strategy and Research, highlights the potential gas market shift.…
Natural Gas Price Bulls Persevere on Production Decrease, Deteriorating Storage Outlook
After a bit of hesitation, natural gas futures notched another day in the green as production declined and weather models aligned in showing a cooler-than-normal pattern that would keep hefty storage deficits intact throughout the month. The May Nymex contract settled at $6.680/MMBtu, up 3.7 cents day/day. June futures climbed 4.0 cents to $6.763. Spot…
As Henry Hub Soars, EIA Predicts Rising U.S. Production, LNG Exports in 2022
U.S. dry natural gas production should average 96.9 Bcf/d in April and 97.4 Bcf/d for full-year 2022, which would reflect a 3.8 Bcf/d increase over 2021 levels, according to updated forecasting from the Energy Information Administration (EIA). As the market has keyed in on supply adequacy fears and sent prices soaring well above $6.500/MMBtu this…
Argentina Racing to Secure Natural Gas Volumes as Cold Weather Approaches
Argentina took a step towards securing additional natural gas supplies for this upcoming Southern Cone winter with a new agreement with neighboring Bolivia. The agreement guarantees Argentina will receive 14 Mm3/d of gas from Bolivia from May to September, the same volume of imports as last winter. Bolivia had initially said it would send out…