Prices

Weekly cash prices rebounded from the nosedive of a week earlier, lifted by a round of winter weather in the Northern Plains that gradually pushed eastward and galvanized heating demand over swaths of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the Nov. 9-13 period climbed 12.5 cents to $2.510. The week before,…

Natural gas futures on Monday dropped as mid-range weather worries overshadowed continued strong liquefied natural gas (LNG) levels. The December Nymex contract shed 11.0 cents day/day and settled at $3.244/MMBtu. January lost 9.4 cents to $3.375. Spot gas prices, meanwhile, dipped lower despite a chilly start to the week. NGI’s Spot Gas National Avg. fell…

Devon Energy Corp. has raised its production guidance, lowered exploration costs and set its sights on expanding its hold in the Permian Basin, CEO Dave Hager said Friday. The Oklahoma City independent in its third quarter results showcased how it’s managed to not only hold things together but improve since the sharp industry downturn in…

Woodside Petroleum Ltd., Australia’s top natural gas producer, reported a steep 42% fall in third-quarter revenue from a year ago despite higher sales volumes, as its long-term liquefied natural gas (LNG) export contracts were hit hard by low oil prices from last quarter. Most of Woodside’s LNG contracts are with Asian customers and are indexed…

Natural gas futures started off the week lower amid further uncertainty surrounding the pace of liquefied natural gas (LNG) export recovery. A “complicated” weather outlook also left traders unsure of where to price gas, but a chillier turn in Monday’s midday models ultimately lifted the November Nymex contract up 2.2 cents to $2.795. December nudged…

With Gulf Coast liquefied natural gas (LNG) facilities unscathed by Hurricane Delta, export demand’s quick rebound combined with a chillier forecast to send natural gas futures sharply higher Monday. The November Nymex gas futures contract jumped 14.0 cents to settle at $2.881. December climbed 6.7 cents to $3.271. Spot gas prices also posted stout increases…

U.S. crude oil production rebounded in September, though researchers anticipate new declines in the coming months. Oil production climbed to an estimated 11.2 million b/d in September from 10.8 million b/d in August, the Energy Information Administration (EIA) said in the latest Short-Term Energy Outlook (STEO). Production averaged 11.0 million b/d in July, up 0.5…

After sinking near the 200-day moving average at the end of last week, natural gas futures bounced back with a vengeance Monday thanks to stronger liquefied natural gas (LNG) feed gas demand and strong cash prices. The November Nymex gas futures contract hit a $2.727/MMBtu intraday high before settling at $2.615, up 17.7 cents from…

Royal Dutch Shell plc’s global workforce by the end of 2022 is expected to have up to 9,000 fewer people, including 1,500 taking voluntary retirement this year, the energy major said in a third quarter update. Post-tax impairments in the 3Q2020 update were estimated at $1-1.5 billion. The preliminary report indicated that Shell expects to…