Texas

Faster cycle times and strong well productivity drove a production beat for multi-basin independent Coterra Energy Inc. during the third quarter, a performance that led the explorer to increase guidance for the year.  The Houston-based exploration and production (E&P) giant, which works in the Anadarko and Permian basins, as well as the Marcellus Shale, expects…

Texans on Tuesday cast ballots on a slate of constitutional amendments, with Proposition 7, which supplies state funds to add natural gas-fired power plants, resoundingly approved.  Proposition 7, a constitutional amendment to create the Texas Energy Fund, passed with about 65% of the popular vote. With its passage, the Public Utilities Commission of Texas (PUCT)…

Natural gas futures on Monday lost ground, succumbing to weaker fundamentals as production notched another all-time high and early winter warmth deflated demand. The December Nymex gas futures contract settled at $3.264/MMBtu, down 25.1 cents day/day. January fell 23.1 cents to $3.564.  At A Glance: Front month sheds 25.1 cents day/day Production approaches 105 Bcf/d…

Texans as early as Monday were going to be able to begin voting on a slate of amendments, including one that would fund natural gas-fired generation facilities to bolster the stressed electric grid.  Proposition 7, a constitutional amendment, would if adopted by a majority of voters establish the Texas Energy Fund (TEF) to support the…

Natural gas aided electric grid operators in California and Texas in maintaining stable operations as solar generation dropped during Saturday’s annular eclipse. For the California Independent System Operator (CAISO), total renewable energy – which includes solar and wind – had climbed to 9,919 MW by 8:40 a.m. PT but then plunged to 5,002 MW by…

Texas oil and natural gas regulators have surpassed legislative targets for fiscal year (FY) 2023, which included plugging 75% more orphaned wells than required with the support of federal funding.  The Texas legislature sets annual targets for the Railroad Commission of Texas (RRC) to carry out a certain number of pipeline inspections and wellhead inspections,…

Texas oil and natural gas regulators plan to streamline and modernize how the exploration and production (E&P) industry manages oilfield waste.  For the first time since 1984, the Railroad Commission of Texas (RRC) is updating Statewide Rule 8, which regulates oil and natural gas waste pits and disposal methods. The rule “will undergo a substantial…

Mexico’s national utility Comisión Federal de Electricidad (CFE) through its international marketing subsidiary CFE International LLC (CFEi) has put out a bid for proposals for the supply of natural gas from Texas. CFEi is the U.S.-based entity responsible for procuring natural gas to support power generation and other needs in Mexico. The Mexican state giant…

Natural gas futures forged ahead on Monday, building on the modest momentum gathered late last week after supportive government inventory data and price jumps in Europe. Following a 2.7-cent gain on Friday, the October Nymex gas futures contract settled at $2.639/MMBtu, up two-tenths of a cent to start the new week. November rose 2.7 cents…