Both Energy and Environmental Analysis (EEA) and Energy Ventures Analysis (EVA), two Arlington, VA-based energy industry consulting firms, predict that natural gas prices will be pressured lower this year — EEA says possibly as low as $4/MMBtu by the end of the gas storage injection season.
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Oil Service Contractors Predict More Ramp Ups Domestically
Drilling service contractors operating in the United States and Canada are beginning to see business in the Gulf of Mexico stabilize, and some are forecasting success beginning in the second quarter from several projects expected to ramp up offshore and in key U.S. basins.
Oil Service Contractors Predict More Ramp Ups Domestically
Drilling service contractors operating in the United States and Canada are beginning to see business in the Gulf of Mexico stabilize, and some are forecasting success beginning in the second quarter from several projects expected to ramp up offshore and in key U.S. basins.
Futures Eke Out Third Straight Advance
On the eve of what some observers predict could be one of the largest reported storage withdrawals in history, the natural gas futures market appeared content to trade flat for the session Wednesday.
Global Insight Sees Mixed Fundamentals, But Storage Should Keep Prices in Check
Consultants at Global Insight predict that 3 Tcf-plus storage levels at the end of November will result in lower-than-expected prices next year, but a number of factors, including limited LNG import capacity, minimal gains in Gulf of Mexico gas production, further declines in gas imports from Canada and a growing economy, will put a floor under the market.
Analysts Predict Continuing Production Declines Despite Drilling Increases
Two prominent analysts last week predicted that domestic dry gas production would decline by at least 2%/year for the foreseeable future. Both Southwest Securities and Lehman Brothers conducted surveys of top producers and found a continuing struggle to grow production despite substantial rig count increases.
Studies Predict 1.4 Bcf/d Less Gas Demand This Winter, 1% Less Production
Natural gas demand this winter should be about 1.4 Bcf/d (1.8%) lower than demand last winter but 3.8 Bcf/d higher than demand during the mild winter two years ago, according to Arlington, VA-based consulting firm Energy Ventures Analysis Inc. (EVA). However, domestic gas production should decline about 1% this year, according to Energy and Environmental Analysis Inc. (EEA). Both firms conducted studies for the Natural Gas Supply Association’s (NGSA) Natural Gas Winter Outlook.
Forecasters Differ on Temperature Outlook
New York City-based Weather 2000 said that while it is far too early to predict any specific early fall warm-ups or technical Indian Summer episodes, “our old friend,” the Warm-West/Cool-East Pattern, is expected to “stay for September.”
North American Gas Production Still Declining but Some Predict Second-Half Relief
Higher natural gas prices aside, North American natural gas production most likely will continue its decline this year, according to some industry analysts. Even though U.S. and Canadian exploration and production (E&P) companies may raise their spending as discretionary income grows, the ramp up most likely won’t occur before the second half of the year.
North American Gas Production Still Declining but Some Predict Second-Half Relief
Higher natural gas prices aside, North American natural gas production most likely will continue its decline this year, according to some industry analysts. Even though U.S. and Canadian exploration and production (E&P) companies may raise their spending as discretionary income grows, the ramp up most likely won’t occur before the second half of the year.