production

U.S. Still 2020 Global Leader in Petroleum, Natural Gas Production Despite Pandemic Drop-Off

U.S. Still 2020 Global Leader in Petroleum, Natural Gas Production Despite Pandemic Drop-Off

Even amid declines associated with the Covid-19 pandemic, the United States maintained its status as the globe’s leading producer of petroleum and natural gas in 2020, a recent analysis from the Energy Information Administration (EIA) shows. Domestic petroleum and natural gas output fell year/year in 2020 after reaching record highs in 2019, EIA said in…

July 22, 2021
Natural Gas Price Bulls Extend Parade as August Futures Soar a Fourth Consecutive Session

Natural Gas Price Bulls Extend Parade as August Futures Soar a Fourth Consecutive Session

Natural gas futures on Wednesday advanced for a fourth straight day, probing higher from the two-and-a-half-year highs reached earlier this week, with demand robust and anticipation high ahead of the federal government’s storage report Thursday. At A Glance: Forecasts call for extensive heat Production remains light Traders await EIA storage data The August Nymex contract…

July 21, 2021
Natural Gas Futures Rally for Second Day, Bolstered by Demand Outlook; Spot Prices Spike

Natural Gas Futures Rally for Second Day, Bolstered by Demand Outlook; Spot Prices Spike

Natural gas futures on Monday cruised higher for a second consecutive session as forecasts pointed to stronger weather-driven demand over the back half of July. The August Nymex contract advanced 10.5 cents day/day and settled at $3.779/MMBtu. The prompt month had gained 6.0 cents on Friday to close out trading last week. The September contract…

July 19, 2021
Northeast Production, Storage Concerns Take Center Stage as Natural Gas Forward Prices Rally

Northeast Production, Storage Concerns Take Center Stage as Natural Gas Forward Prices Rally

Natural gas forward prices continued to fall at the front of the curve during the trading period ending Wednesday (July 14), pressured by inconsistent summer weather and fluctuating production. However, Northeast markets rebounded as another heat wave drove up regional demand, stalling a more pronounced rebuilding of storage inventories that is needed ahead of the…

July 16, 2021
Natural Gas Futures Fall Further on Cooling Forecast, Rising Supply

Natural Gas Futures Fall Further on Cooling Forecast, Rising Supply

A weaker weather pattern seen for the coming two weeks coupled with rising production to send natural gas futures prices sliding on Monday. The July Nymex gas futures contract settled at $3.191, off 2.4 cents from Friday’s close. August slipped 2.1 cents to $3.215. Spot gas prices were mostly lower too, with strong demand mainly…

June 21, 2021
North Dakota Oil, Natural Gas Production Climb in April

North Dakota Oil, Natural Gas Production Climb in April

North Dakota exceeded its monthly production level projections for April, but it may be losing its bragging rights to New Mexico as the second largest oil producing state. Oil production was up 1% in April month/month to 33.6 million bbl, or 1.126 million b/d. Natural gas output grew at a 3.1% rate to 88.89 Bcf,…

June 16, 2021
New Mexico Topples Natural Gas, Oil Production Records in March

New Mexico Topples Natural Gas, Oil Production Records in March

New Mexico, which shares a prolific slice of the Permian Basin with Texas, in March produced the most natural gas and oil production on record, the Energy Information Administration (EIA) reported. Oil output averaged 1.16 million b/d in March, while gas production climbed to 6.19 Bcf/d, EIA researchers led by Emily Geary noted.  The increases…

June 16, 2021
Natural Gas Futures Prices Soar as June Setting Up to be Hottest on Record

Natural Gas Futures Prices Soar as June Setting Up to be Hottest on Record

With a flip of the calendar and a notably warmer outlook for June, natural gas futures prices roared back after the Memorial Day holiday weekend. A sharp decline in supply — though seen as possibly temporary — also influenced pricing, with the July Nymex futures contract settling Tuesday at $3.104/MMBtu, 11.8 cents higher than Friday’s…

June 1, 2021
Vine Energy CEO Says Haynesville Primed for ‘Improving Natural Gas Fundamentals,’ Exports

Vine Energy CEO Says Haynesville Primed for ‘Improving Natural Gas Fundamentals,’ Exports

As U.S. natural gas demand improves, Vine Energy Inc. expects its production in Northwest Louisiana to increasingly be sourced for overseas exports, the company’s CEO said Monday. The Plano, TX-based independent in the spring of 2021 took the company public to secure more investor interest in its 227,000 net acre stronghold in the Haynesville and…

May 19, 2021
North Dakota Reports Higher Natural Gas Production, Lower Flaring in March

North Dakota Reports Higher Natural Gas Production, Lower Flaring in March

Natural gas production outpaced oil in North Dakota’s Bakken Shale during March, according to the state Dakota Department of Mineral Resources (DMR). Gas production was 89.2 Bcf (2.8 Bcf/d), compared to 75.7 Bcf (2.7 Bcf/d) in February. Oil production totaled 34.3. million bbl (1.1 million b/d) from 30.3 million bbl (1.08 million b/d).  The state…

May 17, 2021
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