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…
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Clearfork Boosting G&P on Holly Haynesville System on Strong Customer Demand
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…
Haynesville Continues to Pace Natural Gas Production Growth in Latest EIA Modeling
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…
Natural Gas Forward Prices Extend Losses as Ian Wipes Out Power to Millions
With natural gas production remaining stout – even amid temporary shut-ins ahead of Hurricane Ian – and cooler weather leaving its mark on storage inventories, natural gas forward prices continued to fall during the Sept. 22-28 week, according to NGI’s Forward Look. In the latter part of the period, all attention was on Florida, where…
American Noble Begins Sales from Hugoton Natural Gas Field in Kansas
American Noble Gas Inc. is ready to sell output from an exploratory well near Garden City at the Hugoton natural gas field in Haskell and Finney Counties, KS. The initial well was connected to the gathering system on August 11, which marked the beginning of the flow of natural gas and helium for commercial sales,…
Haynesville Leading Domestic Natural Gas Production Higher in Latest EIA Projections
Natural gas production from seven key U.S. onshore regions is set to surge to slightly shy of 94 Bcf/d from August to September, with the largest share of incremental output growth expected from the Haynesville Shale, according to updated projections from the Energy Information Administration (EIA). Total natural gas output from the seven regions tracked…
Much Ado About Nothing? Natural Gas Futures Surge Near $9; Cash Mounts Big Gains Too
In another display of headlines driving price action, natural gas futures soared on word of a leak impacting the Shell plc-operated Mars crude oil pipeline in the Gulf of Mexico (GOM). Of course, gas prices were already sharply higher after the latest government inventory data reflected a continuation of the tight supply/demand balances that have…
Natural Gas Futures Slip, then Pop After EIA’s Near-Average Storage Injection
The Energy Information Administration (EIA) reported a larger-than-expected 44 Bcf injection into natural gas storage facilities for the week ending Aug. 5. The build ultimately had little bearing on prices. Futures were trading sharply higher ahead of the EIA report because of further day/day declines in production. Choppy price action was seen after the data…
Lack of LNG Export Terminals Stumps Canadian Natural Gas Production, Says EIA
Driven by upstream activity tied to LNG export projects, production of natural gas liquids (NGL) in the gassy Montney Shale has seen a recent boost, according to the U.S. Energy Information Administration (EIA). In its latest analysis of Canada’s energy commodities, EIA projected the country’s oil production to grow this year and into 2023. Factors…
Despite Production Drop and Prevailing Heat, Natural Gas Futures Fail to Find New Footing
Natural gas futures rebounded early Wednesday as production dropped and near-term cooling demand remained elevated. The prompt month, however, slipped lower by midday as traders digested expectations for a stout storage injection, and it struggled to regain momentum. The August Nymex gas futures contract ultimately fell 1.3 cents day/day and settled at $5.510. September shed…