production

April Bidweek Trading Concludes as Hefty Storage, Incoming Weak Demand Weigh

April Bidweek Trading Concludes as Hefty Storage, Incoming Weak Demand Weigh

Stout storage levels at the start of the weak spring demand season kept baseload natural gas prices for April under pressure in bidweek trading Tuesday, according to NGI’s Bidweek Alert (BWA). Overall trade slowed from Monday on the third and last day of bidweek trading for April baseload flows, with the Midwest and Appalachia leading…

March 27, 2024
Natural Gas Futures Broker Steve Blair’s Summer Price Outlook – Listen Now to NGI’s Hub & Flow

Natural Gas Futures Broker Steve Blair’s Summer Price Outlook – Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI Senior Markets Editor Kevin Dobbs interviews Paragon Global Markets LLC’s Steve Blair, managing director of institutional energy sales. Blair addresses the state of production and supplies in storage, domestic weather and LNG demand, and sets the stage for the…

March 25, 2024
Winter’s Supply Overhang Weighing on April Natural Gas Bidweek Prices

Winter’s Supply Overhang Weighing on April Natural Gas Bidweek Prices

Baseload natural gas prices were trending lower for April delivery as excess end-of-winter inventory levels kept bidders hesitant on the first day of bidweek trading Friday (March 22), according to NGI’s Bidweek Alert (BWA). Trade was most active in Texas, where the supply glut has pushed Permian Basin prices negative, following in the footsteps of…

March 25, 2024
NGI’s 4Q2023 North American Natural Gas Supply and Demand Analyst Takeaways

NGI’s 4Q2023 North American Natural Gas Supply and Demand Analyst Takeaways

North American natural gas prices dropped dramatically in 2023 as producers maintained robust production levels in no small part because of drilling efficiencies. At the same time, midstreamers touted the need for more gas egress capacity while the Biden administration’s LNG authorization pause threw a wrench in the outlook for some export capacity projects. Read…

March 25, 2024
EIA Cuts U.S. Natural Gas Price Forecast Amid Warm Winter Temps, Stout Supply

EIA Cuts U.S. Natural Gas Price Forecast Amid Warm Winter Temps, Stout Supply

The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday. EIA, in its latest Short-Term Energy Outlook (STEO), modeled an average Henry Hub price of $2.27/MMBtu for 2024,…

March 13, 2024
March Natural Gas Futures Rally as Production Dips, Expiry Looms; Spot Prices Slip

March Natural Gas Futures Rally as Production Dips, Expiry Looms; Spot Prices Slip

Natural gas futures rebounded on Monday, bolstered by lower production readings and trader positioning ahead of the front-month contract’s expiration. At A Glance: NGI models 84 Bcf draw  Production at 103 Bcf/d Weather demand evades Coming off back-to-back losses to close out the prior week, the March Nymex gas futures contract settled at $1.659/MMBtu, up…

February 26, 2024
Marcellus-Focused Range Resources Eyeing Flat Natural Gas Output Amid ‘Incredibly Challenging’ Prices

Marcellus-Focused Range Resources Eyeing Flat Natural Gas Output Amid ‘Incredibly Challenging’ Prices

Appalachian Basin pure play Range Resources Corp. is targeting flat production growth in 2024 with a focus on natural gas liquids (NGL) to offset weak natural gas pricing, management said Thursday. “Near-term prices are obviously incredibly challenging for the industry, and we expect these historically low price levels should help keep a lid on natural…

February 26, 2024
Natural Gas Futures Finally Find Fresh Footing, Post Modest Advance; Cash Prices Mixed

Natural Gas Futures Finally Find Fresh Footing, Post Modest Advance; Cash Prices Mixed

For the first time in nine sessions, natural gas futures on Friday forged ahead as discount buying finally overtook the mild weather forecasts and elevated supplies that had sapped the will of price bulls most of this month. At A Glance: Prompt month gains 2.8 cents  Bargain buying saves the day Fundamentals ‘indelibly weak’ The…

February 16, 2024
March Natural Gas Rout Extended as ‘Search of Bullish Catalysts’ Continues; Cash Up

March Natural Gas Rout Extended as ‘Search of Bullish Catalysts’ Continues; Cash Up

Natural gas futures extended losses into a fifth consecutive session Monday as fundamental support continued to evade, leaving little for the market to latch onto to drive March Nymex natural gas out of the basement and off more than three-year lows. At A Glance: Futures tumble 7.9 cents  Bearish fundamentals persist West Texas bucks cash…

February 12, 2024
MPLX Exploring Organic Growth Opportunities in Permian, Marcellus and Utica

MPLX Exploring Organic Growth Opportunities in Permian, Marcellus and Utica

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale. “We plan to continue growing these operations through organic projects, investment in our Permian…

February 5, 2024