Credit Suisse has raised its average U.S. natural gas benchmark price forecast for 2014 by 13% to average $4.30/MMBtu because of record storage withdrawals, which by the end of March are expected to be 1.1 Tcf. Prices in 1Q2014 are seen averaging $4.80, a 50-cent hike from a prediction at the end of 2013.
Summer
Articles from Summer
EIA Expects Storage to Exit October More Than 100 Bcf Shy of 2012
The Energy Information Administration (EIA) reported Thursday morning that while end-of-refill-season working natural gas storage levels are expected to be ample, inventories could enter November at the lowest level in three years.
Lowest July Power Usage in 4 Yrs. Equals Gas, Coal Demand Drops, Genscape Reports
A cooler-than-normal July for much of the United States led to decreased levels of demand for natural gas and coal to fuel power plants in a trend that is expected to continue for the rest of the summer, according to data collected by Genscape Inc.
NatGas the New Gold? Goldman Thinks So
With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.
Hearings Set for Draft California Fracking Rules
California state oil/natural gas officials have scheduled the first in a series of all-day public workshops for Feb. 19 in Los Angeles to gain feedback on draft hydraulic fracturing (fracking) rules for the state.
WY Gov. Offers Budget Cuts to Match Lower Resource Revenue
Facing a “flattening out” of revenue sources in the wake of a scourge of summer wildfires and continued low domestic natural gas prices, Wyoming Gov. Matt Mead on Friday submitted a supplemental 2013-14 state budget with a 6% annual reduction in the state’s general fund spending.
WeatherBug: Drought Conditions May Push Winter Cold South
A continuation of the drought that began this summer in the nation’s midsection could help keep temperatures in the region low this winter, and has the potential to trigger a repeat of 2010-2011’s wellhead freeze-offs, according to a 2012-13 Winter Outlook released by Earth Networks-WeatherBug.
WeatherBug: Drought Conditions May Push Winter Cold South
A continuation of the drought that began this summer in the nation’s midsection could help keep temperatures in the region low this winter, and has the potential to trigger a repeat of 2010-2011’s wellhead freeze-offs, according to a 2012-13 Winter Outlook released Wednesday by Earth Networks-WeatherBug.
North Dakota Production Soars; Oil Prices Climb
North Dakota again set new all-time highs for oil and natural gas production, drilling permits issued and producing wells in August, according to the latest report from state Department of Mineral Resources (DMR) Director Lynn Helms. The average price for sweet crude was up, too.
Chamber: U.S. Energy Security Risks Grew Worse in 2011
America’s energy security risk is bad and getting worse under current policy and regulatory framework, according to a report by the U.S. Chamber of Commerce’s Institute for 21st Century Energy.