production

Cordial Meet with Energy Secretary Sends ‘Positive Signal’ U.S. Committed to Oil, Natural Gas

Cordial Meet with Energy Secretary Sends ‘Positive Signal’ U.S. Committed to Oil, Natural Gas

For all the recent tension between the Biden administration and the sector, oil and natural gas heavyweights emerged from a summit with Energy Secretary Jennifer Granholm using words such as “constructive” and “optimistic” to size up talks aimed at boosting production in the face of tight global supplies. The meeting Thursday “was a constructive conversation…

June 24, 2022
Natural Gas Futures Erode Further on Bearish EIA Data; Cash Slides Too

Natural Gas Futures Erode Further on Bearish EIA Data; Cash Slides Too

The latest government storage data swiped the rug out from underneath natural gas futures on Thursday, with a larger-than-expected injection highlighting the fragility of the gas market. The July Nymex futures contract settled at $6.239/MMBtu, down 61.9 cents on the day. August futures tumbled 58.9 cents to $6.283. Spot gas prices were mostly lower despite…

June 23, 2022
‘Sexy’ Byproduct of Natural Gas, Oil Production Could Fuel Energy Transition

‘Sexy’ Byproduct of Natural Gas, Oil Production Could Fuel Energy Transition

Lithium is one of many components of the salty brine, or produced water, that accompanies natural gas and oil production. It is also a key component of battery production for electric vehicles (EVs), power grid storage, and numerous other manifestations of the energy transition. Recovering commercial volumes of lithium from the oil and gas byproduct…

June 1, 2022
Huge Price Gains Seen for June Baseload Natural Gas as Supply Concerns Intensify

Huge Price Gains Seen for June Baseload Natural Gas as Supply Concerns Intensify

Escalating supply concerns ahead of the summer – forecast to be hotter than usual – appear to be driving huge increases for June baseload natural gas prices, according to NGI’s Bidweek Alert (BWA). After late-season blasts of wintry air hampered production in April, producers are struggling to grow output beyond the recent low to mid-90…

May 25, 2022
FERC Issues DEIS for Tellurian Subsidiary’s Pipeline Project in Louisiana

FERC Issues DEIS for Tellurian Subsidiary’s Pipeline Project in Louisiana

FERC has prepared a draft environmental impact statement (DEIS) for a Tellurian Inc. pipeline project that would potentially serve natural gas demand in Southwestern Louisiana and the company’s Driftwood liquefied natural gas (LNG) export project.  The Federal Energy Regulatory Commission (FERC) concluded that construction and operation of the Driftwood Line 200 and Line 300 projects…

May 18, 2022
Aggressive Sell-Off in Natural Gas Futures Continues Early, Despite Hefty Production Drop

Aggressive Sell-Off in Natural Gas Futures Continues Early, Despite Hefty Production Drop

After plunging more than $1.00 on Monday, natural gas futures were down sharply again early Tuesday despite a large day/day production decline. The June Nymex futures contract was trading 35.6 cents lower at $6.670/MMBtu at around 8:50 a.m. ET. Traders appeared to be brushing off the precipitous drop in output, perhaps because most of the…

May 10, 2022
Up, Up, Up — Natural Gas Futures Fly Past $8 as Bulls Seize Upon Struggling Supply Story

Up, Up, Up — Natural Gas Futures Fly Past $8 as Bulls Seize Upon Struggling Supply Story

Natural gas futures rallied a fourth consecutive day – and for a seventh time in eight sessions – as both domestic and global supply concerns intensified while signs of robust summer demand accumulated. The June Nymex gas futures contract spiked 46.1 cents day/day and settled at $8.415/MMBtu. July rose 44.7 cents to $8.472. At A…

May 4, 2022
Natural Gas Futures Forge Ahead as Production Woes Fester

Natural Gas Futures Forge Ahead as Production Woes Fester

With production light and demand steady, natural gas futures on Friday cruised higher for the fourth time in five sessions. The June Nymex gas futures contract settled at $7.244/MMBtu, up 35.6 cents day/day. July advanced 36.1 cents to $7.355. NGI’s Spot Gas National Avg. shed 2.5 cents to $6.545, though prices were up across the…

April 29, 2022
Woodside Weathers Production Issues, ‘Volatility’ with Heightened Oil, Gas Prices

Woodside Weathers Production Issues, ‘Volatility’ with Heightened Oil, Gas Prices

Woodside Petroleum Ltd. management said a combination of maintenance, weather and geopolitical tensions impacted its oil and gas production and sales during the first quarter. However, heightened prices – especially for liquefied natural gas (LNG) – kept revenues strong. The Australian producer saw a mix of boons and setbacks with its gas businesses during the…

April 29, 2022
Natural Gas Futures Stumble, but Decline Seen as ‘Noise’; Cash Drops

Natural Gas Futures Stumble, but Decline Seen as ‘Noise’; Cash Drops

Natural gas futures took a step lower Thursday after three straight days of gains, with production showing signs of recovery amid ongoing maintenance. Some loosening in the latest government inventory data also influenced pricing, sending the June Nymex gas futures contract down 45.1 cents to $6.888/MMBtu. July futures shed 44.2 cents to hit $6.994. Spot…

April 28, 2022
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