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Canadian Natural Gas E&Ps, Midstreamers Focus on Demand Catalysts

Canadian Natural Gas E&Ps, Midstreamers Focus on Demand Catalysts

Natural gas exploration and production (E&P) firms and midstream companies in Canada expect to continue driving and delivering strong volumes of output. Their high expectations for demand growth outshined weak prices to begin 2024. Such was a prevailing theme of companies active in Western Canada’s natural gas complex during first quarter earnings season. The demand…

May 23, 2024
Brightening LNG Demand Outlook Helping to Lift Natural Gas Forwards; West Texas Production Constrained

Brightening LNG Demand Outlook Helping to Lift Natural Gas Forwards; West Texas Production Constrained

North American natural gas forwards rallied across the 2024 strip during the May 2-8 trading period as sagging production readings and an incrementally supportive LNG export outlook stirred bullish optimism. Benchmark Henry Hub set the tone, with June fixed prices rallying 25.5 cents week/week to reach $2.194/MMBtu, according to NGI’s Forward Look. Negative Basis in…

May 9, 2024
Canada’s Tourmaline Touts Profitability Amid ‘Extremely Weak’ Natural Gas Prices

Canada’s Tourmaline Touts Profitability Amid ‘Extremely Weak’ Natural Gas Prices

Canada’s largest natural gas producer, Tourmaline Oil Corp., is using hedging and a diversified marketing strategy to counteract low prices for the commodity in Western Canada, management said.  CEO Michael Rose hosted a conference call to discuss first quarter earnings for Tourmaline, which operates in the Alberta Deep Basin, the Montney Shale and the Peace…

May 7, 2024
Canadian Natural Gas Supply Glut Hampers Prices – Yet Production Cuts Uncertain

Canadian Natural Gas Supply Glut Hampers Prices – Yet Production Cuts Uncertain

Canadian natural gas production and storage are both elevated heading toward shoulder season – much like in the United States – and bearish pressure on prices persists. There are hints that exploration and production (E&P) companies may pull back, following the lead of their Lower 48 brethren and creating the potential for supply/demand balance this…

March 11, 2024
Canadian Natural Delivers Record Natural Gas Output, with LNG Canada Ramp in Sight

Canadian Natural Delivers Record Natural Gas Output, with LNG Canada Ramp in Sight

Calgary-based Canadian Natural Resources Ltd. achieved record natural gas production during 2023, up 3% year/year and 5% higher during the final three months of the year.  Besides breaking gas production records, with an average 2.23 MMcf/d in 4Q2023 and 2.15 Bcf/d for the year, the explorer also topped previous oil output records. During a conference…

March 4, 2024
Natural Gas Futures Head for Positive Session But Fall from Morning Highs — MidDay Market Snapshot

Natural Gas Futures Head for Positive Session But Fall from Morning Highs — MidDay Market Snapshot

Natural gas futures retreat from early highs as market continues monitoring signs of production decline Expiring March Nymex contract trading at $1.656 as of 2:28 p.m. ET, up 5.3 cents day/day but off from $1.730 high Bloomberg estimates put domestic production at 102.5 Bcf/d for Monday; Wood Mackenzie’s estimate at 102.9 Bcf/d Per Gelber &…

February 26, 2024
Enbridge Touts U.S. Utility Expansion, Long-Term Natural Gas Export Strength

Enbridge Touts U.S. Utility Expansion, Long-Term Natural Gas Export Strength

Enbridge Inc. heralded the more than $20 billion of acquisitions it announced in 2023, including a string of deals to transform its natural gas utility operations in the Lower 48. The utilities would boost Enbridge’s Lower 48 customer base to 7 million and position it for long-term growth following the surge in fourth-quarter and full-year…

February 12, 2024
Enbridge Gauging Support to Boost Dawn’s Daily Capacity by 91,200 MMBtu in Late 2027

Enbridge Gauging Support to Boost Dawn’s Daily Capacity by 91,200 MMBtu in Late 2027

Enbridge Inc.’s natural gas subsidiary is testing support through mid-July to boost firm transportation service capacity for up to 96,000 GJ/d (91,200 MMBtu/d) at the Dawn Hub in Eastern Canada. If there is enough demand, the Enbridge Gas Inc. expansion could launch by Nov. 1, 2027. Service could begin sooner, depending on support, Enbridge noted. …

June 7, 2023
Are Higher Canada AECO Natural Gas Prices a Pipe Dream? 

Are Higher Canada AECO Natural Gas Prices a Pipe Dream? 

Discounted pricing at the NOVA/AECO C natural gas hub in Southern Alberta is likely to remain a fact of life over the near term, even if pipeline expansions and LNG exports in Western Canada come online as scheduled, according to experts. Abundant gas supply from the Western Canadian Sedimentary Basin (WCSB) and limited egress capacity…

January 5, 2023
TC Energy’s Planned 81 MW Solar Plant to Help Power Natural Gas System

TC Energy’s Planned 81 MW Solar Plant to Help Power Natural Gas System

TC Energy Corp. is set to bring utility-scale solar power to its product line with the first C$146 million ($109 million) project at its Calgary home base. The initial generating site would have an 81 MW capacity and include a jumbo battery. It would supply a suburban community, as well as TC’s pipeline network. The…

October 10, 2022
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