production

Lower 48 natural gas and oil permitting fell in May from April and dipped 11% from a year ago, driven by a pullback in smaller U.S. basins, according to Evercore ISI. Energy analysts led by James West each month review state and federal permitting to determine trends in activity. Once an onshore permit is issued,…

Natural gas production from the Lower 48’s top seven basins is expected to climb ever so slightly in July to about 97.34 Bcf/d, about 84 MMcf/d higher than in June, according to the U.S. Energy Information Administration (EIA). The Drilling Productivity Report (DPR) provides month/month natural gas and oil production forecasts for the Anadarko, Appalachia…

Natural gas futures rallied on Monday as production slipped, expectations for strong cooling demand increased and a cut to global oil supplies created potential support for LNG prices. Coming off a 1.4-cent gain Friday, the July Nymex gas futures contract gained 7.3 cents day/day and settled at $2.245/MMBtu to start the new trading week. August…

Stubbornly high production maintained its grip on natural gas forward curves during the May 18-24 period, with June prices averaging 20.0 cents lower, according to NGI’s Forward Look. With weather-driven demand at seasonal lows and storage inventories remaining at a surplus to historical norms, forward contracts dropped 16.0 cents on average for the balance of…

Natural gas futures fizzled on Monday, giving up ground as forecasts pointed to mild May weather and as production held at stout levels. The June Nymex gas futures contract settled at $2.318/MMBtu, down 9.2 cents day/day. The prompt month had gained 5.5 cents on Friday. The July contract on Monday shed 8.0 cents to $2.498.…

Baseload natural gas prices for May remained under pressure relative to benchmark Henry Hub as bidweek trading commenced on Monday, hindered by benign weather and continued strong production levels. Weakness was pronounced in the nation’s midsection, according to NGI’s Bidweek Alert (BWA), with prices low across the Midwest and Midcontinent. Chicago Citygate basis was trading…

Energy and environment ministers from the Group of Seven (G7) economically advanced nations, including the United States, agreed to ramp up electricity generated by renewable energy sources to accelerate the transition away from fossil fuels. Yet the ministers, recognizing global demand shifts amid Russia’s war in Ukraine and the particular energy needs of meeting host…

Mild winter temperatures across much of the central and eastern United States reduced heating demand and dropped domestic natural gas consumption to the lowest levels in years.  Following a cold start to winter last December, benign weather prevailed over the first two months of this year. As a result, in January, U.S. natural gas consumption…

Natural gas futures fell Monday, kicking off the new month much in the way 2023 has gone so far – under pressure from strong production, modest weather-driven demand and stout storage supplies. At A Glance: Prompt month sheds 11.9 cents Production, supplies robust Weakening weather outlook The May Nymex gas futures contract settled at $2.097/MMBtu,…