ngi

With much of the supply/demand background fairly stable, weak natural gas cash pricing drove a deep dive lower for forward markets during the June 11-17 period, NGI’s Forward Look data show. Double-digit decreases extended across North America through the rest of summer, though smaller losses were seen further out the curve.

FERC has issued a notice of inquiry (NOI) on its proposed index level used to calculate annual changes to interstate oil pipeline rate ceilings for the next five years, beginning July 1, 2021.

Mirage Energy Corp. has signed a $4 billion debt facility with the family office of Bluebell International to develop a natural gas project that would add cross-border capacity into Mexico, as well as the nation’s first underground gas storage facility.

Matador Resources Co. said Thursday it has brought five horizontal wells in the Permian Basin’s Delaware sub-basin into production, and it plans to bring 18 more wells and a natural gas processing plant online in the third quarter.

Natural gas futures traded in a narrow range of gains and losses Thursday and ultimately finished flat after traders absorbed a relatively bullish storage report that offset weather and demand uncertainty. The July Nymex contract settled at $1.638/MMBtu. August rose one-tenth of cent to $1.728.

Pacific Gas and Electric Co. (PG&E) on Tuesday pleaded guilty to 84 counts of involuntary manslaughter and one count of starting a fire for its role in the 2018 Camp Fire that destroyed the town of Paradise, CA.

Cooler temperatures and soft demand in the natural gas cash market, along with ongoing liquefied natural gas (LNG) woes, weighed down futures again Tuesday, with prices hitting a new daily low in June for a third consecutive trading day.

Mexico oil production is likely to stay near April levels through 2021, with the natural decline of legacy fields operated by national oil company Petróleos Mexicanos (Pemex) offsetting any production gains at the firm’s so-called priority fields, the International Energy Agency (IEA) said Tuesday.

Although global oil demand is expected to fall by a record 8.1 million b/d in 2020 because of Covid-19, 2021 should be a much different story, the International Energy Agency (IEA) said Tuesday.