Cash prices overall were steady Thursday in large part due to physical traders getting their deals done prior to the release of the Energy Information Administration (EIA) storage figures and subsequent price volatility.
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After a decade of steady decline, natural gas demand in California is forecast to grow annually, albeit slowly, during the next 10 to 15 years, an updated statewide report to the state legislature says.
U.S. natural gas production continued its steady decline through November, totaling 27.22 Tcf for the first 11 months of 2012, compared with 25.94 Tcf during the same period in 2011 and 24.42 Tcf in 2010, according to the U.S. Energy Information Administration’s (EIA) Monthly Energy Review for February. Marketed production (23.17 Tcf, compared with 21.90 Tcf in 2011) and dry gas production (21.98 Tcf, compared with 20.87 Tcf) were also up during the 11-month period, EIA said.
Baker Hughes Inc.’s North American activity is predicted to be steady this year compared with 2012, but customers still remain cautious about what’s ahead, CEO Martin Craighead said last week. Canadian projects also are posing “near-term risks.”
Baker Hughes Inc.’s North American activity is predicted to be steady this year compared with 2012, but customers still remain cautious about what’s ahead, CEO Martin Craighead said Wednesday. Canadian projects also are posing “near-term risks,” he said.
Cash natural gas prices shed a dime on average Friday as steady to nominal gains at Rockies points were unable to offset falling quotes at East, Northeast and California points. Traders also cited the normal Friday reluctance to buy ahead of a weekend and weather forecasts indicated little likelihood of East and Northeast cold.
Following a steady increase in North American exploration and production (E&P) spending both in the onshore and offshore, operators may “take a breather” and keep upstream capital expenditures (capex) relatively flat, according to a survey by Barclays Capital.
With survey data indicating steady future growth, the use of natural gas as a transportation fuel is gaining momentum in a variety of fleet vehicle operations in four key areas — economics, manufacture of vehicles, fueling infrastructure and public policy support, according to Richard Kolodziej, president of Washington, DC-based NGVAmerica.
Preliminary data released indicates that North Dakota oil and gas production continued to soar in January and the state now ranks third nationally in average daily oil production, surpassing California and following only Texas and Alaska. With the Bakken formation, North Dakota continues to ride the shale boom.