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Spot

Canada Cracks Door to Foreign Investment

The Canadian government Friday granted Chinese state-controlled industry a spot in the North American oil and gas industry (see Daily GPI, Dec. 10), but it pledged that the toehold will not be allowed to grow into a dominant role.

December 11, 2012

Moody’s Lifts NatGas Price Assumption on Declining Inventories

Lower-than-expected natural gas inventories have led Moody’s Investors Service to lift its assumptions for North American Henry Hub natural gas spot prices by 50 cents to $3.50/MMBtu in 2013 and $4.00/MMBtu in 2014 and thereafter.

November 26, 2012

Industry Briefs

Lower-than-expected natural gas inventories led Moody’s Investors Service to lift its assumptions for North American Henry Hub natural gas spot prices by 50 cents to $3.50/MMBtu in 2013 and $4.00/MMBtu in 2014 and thereafter. Prices sagged in recent years on the unconventional drilling boom and mild weather, which has led to an oversupply, but prices have climbed in 2012 on coal-to-gas switching in the power generation sector and hot weather, and as companies have scaled back their dry gas drilling, Moody’s said. Assumptions for natural gas liquids prices remain unchanged at $34/bbl in 2013, 2014 and thereafter, pegging prices at 40% of West Texas Intermediate prices.

November 26, 2012

EIA Bumps 2013 Henry Hub Price Forecast Up to $3.49

With working natural gas inventories at a record high, the Henry Hub spot price is expected to average $2.77/MMBtu this year — a 31% decrease from $4.00/MMBtu in 2011 — but it is expected to rebound to an average of $3.49/MMBtu in 2013, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook released last week.

November 12, 2012

EIA Bumps 2013 Henry Hub Price Forecast Up to $3.49

With working natural gas inventories at a record high, the Henry Hub spot price is expected to average $2.77/MMBtu this year — a 31% decrease from $4.00/MMBtu in 2011 — but it is expected to rebound to an average of $3.49/MMBtu in 2013, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook released Tuesday.

November 7, 2012

Mild Temps Push Double-Digit Cash Declines; November Adds 8 Cents

Overall cash points fell on average by 10 cents Tuesday as the physical market played catch-up to Monday’s 16-cent drubbing of the spot futures. Eastern and Midwest points were particularly hard hit as mild temperatures also worked to limit loads. At the close of futures trading November had gained 8.3 cents to $3.535 and December had added 9.3 cents to $3.861. December crude oil continued its free-fall by losing $1.98 to $86.67/bbl.

October 24, 2012

Operators Moved Rigs to 69 New Counties Nationally Last Week

If you’re looking for the newest hot spot for onshore oil and gas development anywhere in the United States, from a target within the emerging Mississippian Lime of Oklahoma and Kansas to a new location in the more established Marcellus Shale of the Mid-Atlantic and Northeast, NGI’s Shale Daily has a new resource to help identify drilling trends.

October 22, 2012

Natural Gas Intelligence

News This Week :

October 1, 2012

Cabot Hits Record Output in Marcellus

Cabot Oil & Gas Corp. announced Tuesday that its gross production in the Marcellus Shale has averaged more than 700 MMcf/d for the last two weeks, hitting a record 752 MMcf for one 24-hour period.

September 6, 2012

Midcontinent, Great Lakes Firm; Futures Highest Since Mid-December

The physical market gained on average more than 9 cents Monday with strength noted across the board, and not to be outdone spot futures posted the highest settlement since mid-December. Buyers winding up business for bidweek were not happy with recent market strength, but pointed to longer term forecasts showing what they believed would be cooler temperatures in September and October.

July 31, 2012