Producers

Until people are traveling again, on the road or in the air, the economic benefits of cheap oil “remain largely theoretical,” as Covid-19’s hit to global demand is worse than the impact of the financial crisis, according to Raymond James & Associates Inc.

Until people are traveling again, on the road or in the air, the economic benefits of cheap oil “remain largely theoretical,” as Covid-19’s hit to global demand is worse than the impact of the financial crisis, according to Raymond James & Associates Inc.

Oil and natural gas activity in Texas, southern New Mexico and northern Louisiana fell off a cliff in the first three months of the year, unsurprising news from the Federal Reserve Bank of Dallas.

For the first time in three years, oil and natural gas producers are expected to see their borrowing bases decline as credit availability contracts on a worsening outlook for commodity prices, according to a survey of 221 industry respondents conducted last month by Haynes and Boone LLP.

As Arctic cold settled in Wednesday across a wide swath of the country, from the Midwest to the Northeast, producers and midstream companies in the Appalachian and Williston basins were busy trying to fight the effects of record-setting temperatures on their operations and crews.

Oil and natural gas operations on Wednesday remained untouched by a series of wildfires raging in Colorado, industry representatives told NGI’s Shale Daily.

The United States will become the world’s top producer of oil and natural gas over the next several decades, but China and India will lead a host of developing countries in embracing clean energy technologies for power generation as costs for renewables continue to decline.

With single-digit lows continuing and forecasts calling for temperatures to plunge below zero on Friday and Saturday in the Pittsburgh region, small and large Appalachian natural gas producers were grappling with frigid temperatures in different ways.

With so much new supply hitting the market over the next few years, and with incremental demand from the Gulf Coast, natural gas producers haven’t seen the last of widening basis differentials, according to RBN Energy LLC’s Rusty Braziel.