Natural gas futures on Monday finished in positive territory for the first time in nine sessions, supported by expectations of wintry weather in the North this week and the potential for greater heating demand in the month ahead. At A Glance: Output exceeds 103 Bcf/d Northern demand looms NGI models 79 Bcf injection After dropping…
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Montney NGL Output Seen Up 16% in ’19, Says Wood Mackenzie
Combined natural gas and liquids byproduct output will increase by 16% this year from the prolific Montney geological formation straddling Alberta and British Columbia, according to Wood Mackenzie.
No Free Rides For U.S. Onshore Producers, Says Saudi Energy Minister
Following a two-year oil price war that sharply disrupted global output and bankrupted dozens of North American operators, Saudi Arabia’s energy minister warned Tuesday that the decision by the Organization of the Petroleum Exporting Countries to temporarily reduce output doesn’t mean a free ride for anybody.
OPEC’s Tentative Agreement to Reduce Oil Output Still Needs Formal Vote
The 14-nation Organization of the Petroleum Exporting Countries (OPEC), which produces more than one-third of global crude oil output, reached a tentative agreement Wednesday to reduce output for the first time in eight years — to 32.5 million b/d from an August level of 33.24 million b/d.
OPEC Proposes First Oil Production Cut in Eight Years
Stung by continuing oversupply wrought by the U.S. unconventional revolution, the 14-nation Organization of the Petroleum Exporting Countries (OPEC) reached a tentative agreement Wednesday to reduce output for the first time in eight years — to 32.5 million b/d from an August level of 33.24 million b/d.
2Q Results Looming as E&Ps Search For Bottom
A backlog of drilled but uncompleted (DUC) wells, a lack of manpower, cannibalized oilfield equipment and persistently stagnant commodity prices are expected to weigh on second quarter results for the oil and gas industry as investors await word of a recovery.
NGI The Weekly Gas Market Report
E&P, OFS Sectors Facing Uncertain Recovery as Prices, DUCs, Manpower Weigh
A backlog of drilled but uncompleted (DUC) wells, a lack of manpower, cannibalized oilfield equipment and persistently stagnant commodity prices are expected to weigh on second quarter results for the oil and gas industry as investors await word of a recovery.
U.S. Stripper Well Output Declining but Still Significant, Says EIA
Stripper wells accounted for 10% of total U.S. oil output last year, a dwindling amount of output but still a significant number, the Energy Information Administration said Wednesday.
Shale Natural Gas to Account for 20% Share of Total Global Gas Output by 2035, Says BP
Shale natural gas, ramrodded by U.S. producers, should amount to about 75% of domestic gas output and nearly 20% of total global gas production by 2035, compared to 10% of global share in 2014, a stronger forecast than BP plc’s economics team previously projected. And it could get even better, chief economist Spencer Dale said Wednesday.
OPEC, U.S. Shale Producer Price War Not Over, Analysts Say
U.S. crude oil prices slumped below $40/bbl on Friday after OPEC sidestepped action to curb output levels, despite a saturated market.