production

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
Mexico Natural Gas Production Hits Highest Level Under AMLO, Though Still Outpaced by Imports

Mexico Natural Gas Production Hits Highest Level Under AMLO, Though Still Outpaced by Imports

Mexico’s natural gas production averaged 4.3 Bcf/d in 2023, the highest full-year figure since President Andrés Manuel López Obrador, aka AMLO, took office in December 2018. The amount was up from 4.09 Bcf/d recorded in 2022, and 3.81 Bcf/d in 2019, data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) show.  Crude oil production, meanwhile,…

January 31, 2024
How Did the U.S. Natural Gas Market Fare During the January Freeze? Listen Now to NGI’s Hub & Flow

How Did the U.S. Natural Gas Market Fare During the January Freeze? Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI’s team of senior markets reporters discuss January’s wintry weather and the toll it took on the U.S. natural gas market. NGI Price & Markets Editor Leticia Gonzales is joined by Senior Markets editors Kevin Dobbs, Chris Newman and Jodi…

January 29, 2024
Alaska Looking to Secure Vital Natural Gas Supplies Via Cook Inlet

Alaska Looking to Secure Vital Natural Gas Supplies Via Cook Inlet

As reserves in the Cook Inlet Basin dwindle, Alaska leaders are warning of natural gas shortages as early as 2027.  Natural gas production in the basin has fallen to about 70 Bcf/year, according to the Alaska Department of Natural Resources (DNR). The reduced production was cited for shuttering operations at the Agrium Kenai Nitrogen Plant…

January 29, 2024
Weekly Natural Gas Spot Prices Slide as ‘Warmest Patterns of the Past 50 Years’ Hits Demand

Weekly Natural Gas Spot Prices Slide as ‘Warmest Patterns of the Past 50 Years’ Hits Demand

Weekly natural gas cash prices fell for a second week as milder winter weather deflated demand across much of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the Jan. 22-26 period tumbled $2.165 to $2.380/MMBtu with declines in all regions. The Northeast led the way down. Iroquois Zone 2 collapsed $13.480 to average…

January 26, 2024
Natural Gas Futures, Cash Prices Crumble as Forecasts Agree on Warm-Up into Early February

Natural Gas Futures, Cash Prices Crumble as Forecasts Agree on Warm-Up into Early February

Natural gas futures and cash prices tumbled Monday as forecasts doubled down on warmer weather into February, drowning out bullish vibes for an expected near-record storage draw print later this week. At A Glance: Forecasts point to warmer week  Production reaches 101 Bcf/d NGI models 320 Bcf withdrawal The February Nymex gas futures contract fell…

January 22, 2024
Natural Gas Storage Surplus to Dwindle in Wake of Brutal Cold Shots, Production Paralysis

Natural Gas Storage Surplus to Dwindle in Wake of Brutal Cold Shots, Production Paralysis

Underground inventories of natural gas, until recently projected to finish winter at historically high levels, are widely expected to drop in coming government readings, a reflection of an extreme weather shift and huge hits to production. Frigid blasts of Arctic air spilled into the Lower 48 late last week and spread across the country. The…

January 17, 2024
Natural Gas Futures Reverse Declines as Weather Models Queue Up Cold Shots; Cash Slides

Natural Gas Futures Reverse Declines as Weather Models Queue Up Cold Shots; Cash Slides

February natural gas futures rebounded from early weakness Monday to settle shy of $3.000/MMBtu as weather models firmed up expectations for more heating demand from this week’s two winter storms and colder weather into next week. The February Nymex natural gas futures contract rose 8.7 cents day/day to settle at $2.980, after trading across a…

January 8, 2024
Natural Gas Industry Forecasting RNG Growing as Investments Climb

Natural Gas Industry Forecasting RNG Growing as Investments Climb

As policies incentivizing clean energy continue to mount, renewable natural gas (RNG) is poised for more growth, the scale of which could depend on the outcome of state and federal legislation.  The Inflation Reduction Act of 2022 (IRA) launched investments into alternative fuels, including RNG, in part because of the expansion of investment tax credits…

January 8, 2024
APA Joining E&P Merger Parade with Takeover of Permian-Focused Callon

APA Joining E&P Merger Parade with Takeover of Permian-Focused Callon

Houston’s APA Corp., which in recent years has pursued overseas oil and gas prospects, is storming back to the Permian Basin with a $4.5 billion all-stock takeover of Callon Petroleum Co. APA, long a Permian exploration and production (E&P) stalwart, already has a broad portfolio in the Midland and Delaware formations. In the Delaware, where…

January 4, 2024