Texas

Repsol, Partners Snag South Texas Offshore Acreage for CO2 Storage

Repsol, Partners Snag South Texas Offshore Acreage for CO2 Storage

A partnership led by Spain’s Repsol SA has clinched a contract with Texas officials to store carbon emissions offshore Corpus Christi in an area that covers more than 140,000 gross acres of pore space. According to the project sponsors, the offshore carbon capture and storage (CCS) project would be near more than 35 million metric…

September 11, 2023
Gulf South Feed Gas Flows to Freeport LNG Remain Reduced After Significant Drop

Gulf South Feed Gas Flows to Freeport LNG Remain Reduced After Significant Drop

Flows of feed gas to Freeport LNG dropped over the weekend to the lowest point since the facility restarted production earlier this year, according to pipeline data. Volumes of feed gas on the Gulf South Pipeline system, Freeport’s primary supply route, dropped 76% between Saturday and Monday, according to NGI analysis of pipeline data from…

September 11, 2023
Unlocking Efficient, Less Costly CCS Technology for Natural Gas Sector Moving Closer, Say MIT Researchers

Unlocking Efficient, Less Costly CCS Technology for Natural Gas Sector Moving Closer, Say MIT Researchers

Several carbon capture and storage (CCS) projects are in the works across North America, and researchers may have found a novel way to make them more energy efficient. Researchers from Massachusetts Institute of Technology (MIT) recently highlighted how a hidden function of electrodes can attract carbon dioxide (CO2) emissions, which then could be converted, allowing…

September 11, 2023
Texas Oil and Gas Jobs, Wages Soar in 1Q Ahead of Rig Count, Price Declines

Texas Oil and Gas Jobs, Wages Soar in 1Q Ahead of Rig Count, Price Declines

Employment and wages in Texas’ natural gas and oil industry continued to surge upward in the first quarter, according to new analysis by the Texas Oil and Gas Association (TXOGA). Direct employment in the industry rose 8.1% year/year to 482,557 jobs, according to the TXOGA report based on U.S. Census Bureau and Texas Workforce Commission…

August 30, 2023
PHX Growing Haynesville, SCOOP Royalty Position Amid Natural Gas Price Slump

PHX Growing Haynesville, SCOOP Royalty Position Amid Natural Gas Price Slump

PHX Minerals Inc. is using the current natural gas price downturn to expand its mineral and royalty positions in the Haynesville Shale and South Central Oklahoma Oil Province (SCOOP) plays, management said Thursday. The Fort Worth, TX-based independent agreed to acquire about 988 net royalty acres in the Haynesville and SCOOP from five separate sellers…

August 28, 2023
Heat Propels Natural Gas Futures and Spot Gas Prices, but Cooler Temperatures in the Forecast

Heat Propels Natural Gas Futures and Spot Gas Prices, but Cooler Temperatures in the Forecast

Natural gas futures were higher at the top of the week as searing heat blanketed much of the Lower 48, challenging record power loads and stressing grids. The September Nymex gas futures contract settled Monday at $2.632/MMBtu, up 8.1 cents from Friday’s settlement. October futures climbed 5.2 cents to $2.743. At A Glance: Long-range models…

August 21, 2023
Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware

Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware

Permian Resources Corp. and Earthstone Energy, Inc. on Monday agreed to combine in a $4.5 billion transaction to create a Delaware sub-basin exploration and production (E&P) independent with 400,000-plus net acres and pro forma natural gas and oil output of 300,000 boe/d. Permian Resources was formed last year in a $7 billion merger between Centennial…

August 21, 2023
Texas E&P Activity Slows in June on Lower Natural Gas, Oil Prices

Texas E&P Activity Slows in June on Lower Natural Gas, Oil Prices

The Texas upstream industry has seen reduced natural gas and oil prices and lower permitting through the first half of the year, and in June, employment growth began to slow as well.  Exploration and production (E&P) activity “is clearly in a state of contraction as measured by the Texas Petro Index (TPI),” said Texas Alliance…

August 11, 2023
Buying Spree Sends Natural Gas Futures Surging Close to $3; Cash Rallies Too

Buying Spree Sends Natural Gas Futures Surging Close to $3; Cash Rallies Too

Natural gas futures rocketed to a six-week high midweek amid ongoing heat in Texas, technical support and continued soft production in the wake of pipeline maintenance events. The September Nymex gas futures contract settled Wednesday at $2.959/MMBtu, up 18.2 cents on the day. October climbed 18.9 cents to $3.053. At A Glance: Technical momentum seen…

August 9, 2023
Natural Gas Futures See-Saw as Market Balances Heat Against Robust Supply; Cash Prices Climb

Natural Gas Futures See-Saw as Market Balances Heat Against Robust Supply; Cash Prices Climb

Natural gas futures struggled to find direction Monday, teetering between modest gains and losses as traders weighed robust near-term cooling demand against strong production and stout supplies in storage. At A Glance: Weather outlook loses some heat Production rebounds to 101 Bcf/d NGI sees smaller storage injection The August Nymex gas futures contract ultimately settled…

July 24, 2023