power

Appalachian natural gas heavyweight Antero Resources Corp. said Monday it has closed an overriding royalty interest (ORRI) transaction with Sixth Street Partners LLC that will result in proceeds of up to $402 million.

Following last Friday’s sell-off, natural gas futures gave up further ground Monday on modestly cooler weather forecasts and lingering concerns about the coronavirus pandemic and its impact on industrial energy demand. Persistently low liquefied natural gas (LNG) volumes also continued to weigh on markets.

A roundup of news and commentary from NGI’s LNG Insight

American Petroleum Institute (API) President Mike Sommers has sent a letter to U.S. officials expressing the group’s worry that recent actions by the Mexican government are hurting investors in the Mexican energy sector.

Colombia’s National Hydrocarbons Agency (ANH) will award contracts for hydraulic fracturing pilot projects to interested companies by October, according to media reports.

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.

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.

Although Bakken Shale oil and natural gas prices in North Dakota have begun to recover, production continues to plummet at a historic pace, according to Department of Mineral Resources director Lynn Helms.

Enbridge Inc. has won the second round of its legal battle against fossil fuel foes to keep its 540,000 b/d oil Line 5 across the Straits of Mackinac between Lake Huron and Lake Michigan.