production

Driven by associated output from the Permian Basin, the Energy Information Administration (EIA) is raising its forecast for domestic natural gas production in 2023, according to updated projections. EIA’s latest Short-Term Energy Outlook (STEO) calls for U.S. natural gas production to average 100.4 Bcf/d next year, up from its month-earlier forecast for output of 99.7…

Click here to listen to the latest episode of NGI’s Hub & Flow, in which Patrick Rau, NGI’s Director of Strategy and Research, takes a look at the recent U.S. natural gas production trend, whether it is sustainable into the new year, and what it all means for prices going forward. Acknowledging that the pace…

OPEC slashed its global crude oil demand outlook for a second consecutive month, citing slowing economic activity in the United States and Europe as well as ongoing pandemic-related lockdowns in China and geopolitical upheaval linked to Russia’s war in Ukraine. In its closely watched monthly market report, the cartel on Monday lowered its forecast for…

With LNG exports seen driving U.S. natural gas demand growth over the coming years, Devon Energy Corp. is positioning itself to capitalize on premium global gas prices, management said Wednesday.  In a call to discuss the Lower 48 producer’s third quarter earnings, CEO Rick Muncrief highlighted a partnership with Delfin Midstream Inc. that would see…

A revamped Chesapeake Energy Corp. continues streamlining its strategy around supplying natural gas to the Gulf Coast LNG corridor, executives said in an earnings call on Wednesday. The company sees a somewhat softer natural gas market in 2023, with no real structural demand growth until new export capacity comes online starting in 2024. “As export…

Matador Resources Co. is seeing better than expected results from recently completed wells in the Permian Basin’s Delaware sub-basin, according to CEO Joseph Foran.  As a result, Dallas, TX-based Matador is increasing the midpoints of its full-year 2022 production guidance from 21.7 to 21.85 million bbl for oil, and from 95.5 to 97.0 Bcf for…

With hints of chillier weather arriving in the Lower 48 in November, along with an expected rise in LNG demand, baseload natural gas prices for November were trending higher, according to NGI’s Bidweek Alert (BWA). Northeast locations swung from a discount to a premium over benchmark Henry Hub prices as brief blasts of frigid air…

Growing demand from natural gas producers in the Haynesville Shale is driving a suite of gathering and processing (G&P) expansions on Clearfork Midstream LLC’s Holly System in North Louisiana. The expansions include constructing a 24-inch diameter pipeline to the east side of the Red River in northeast Red River Parish, as well as a 16-inch…

Driven by the Haynesville Shale and the Permian Basin, natural gas production from seven key Lower 48 plays is set to surge 554 MMcf/d from October to November to more than 95 Bcf/d, according to updated modeling from the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, EIA said it…