production

The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) it now expects the national benchmark to average $2.80/MMBtu this winter, down 60…

Suzanne Ogle, CEO of the Southern Gas Association, says talk of natural gas going away is not realistic or responsible.  Quite the opposite, it’s “really the critical remaining dispatchable fuel source” available, one that offers the quickest way to reducing global emissions, she said in an interview with NGI.  “If your goal is to eliminate…

Robust flows of natural gas southward from Canada into the Lower 48 in November are bolstering already stout U.S. supplies, helping to keep next-day cash prices in check relative to last year, analysts say. “For most of the month, imports have run more than 1 Bcf/d higher than last year, with strength most evident in…

With the market awash in supply and staring at bearish forecast maps stretching deep into November, regional natural gas forwards sold off sharply across the winter strip during the Nov. 2-7 trading period, NGI’s Forward Look data show. Henry Hub fixed prices saw deep discounts week/week, with December dropping 35.5 cents to $3.144/MMBtu. January, February…

Henry Hub natural gas spot prices will average $3.40/MMBtu this winter as mild weather and strong production should help to maintain a healthy supply buffer, the U.S. Energy Information Administration (EIA) said in updated projections published Tuesday. In its latest Short-Term Energy Outlook (STEO), EIA recorded an average spot price at the national benchmark of…

Houston-based exploration and production outfit Magnolia Oil & Gas Corp. saw efficiency gains in the third quarter while also moderately boosting production from its Eagle Ford Shale and Austin Chalk assets in South Texas. Third quarter production grew 1% sequentially to 82,700 boe/d.  The company operates two drilling rigs and one completion crew. One rig…

Marathon Petroleum Corp. continues to evaluate converting its Kenai LNG export terminal in Alaska to import the super-chilled fuel, a project the company said ultimately could be larger than originally planned to help meet local natural gas demand. FERC approved a Marathon subsidiary’s request in 2020 to convert the Kenai terminal, which hasn’t exported any…

Natural gas futures fell on Monday for a fourth consecutive session, succumbing to shifts in fundamentals as production jumped to record levels and forecasts showed fading weather demand in the back half of October. At A Glance: Benign conditions spread Production tops 103 Bcf/d NGI models 79 Bcf injection Coming off a 10.8-cent drop on…

Texas oil and natural gas regulators plan to streamline and modernize how the exploration and production (E&P) industry manages oilfield waste.  For the first time since 1984, the Railroad Commission of Texas (RRC) is updating Statewide Rule 8, which regulates oil and natural gas waste pits and disposal methods. The rule “will undergo a substantial…