Texas

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…

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…

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…

Asian LNG prices remain higher than those in Europe as weak demand, high storage inventories and mild weather on parts of the continent are keeping a lid on the cost of natural gas. The August Title Transfer Facility (TTF) contract fell by 12% last week and the Japan-Korea Marker (JKM) prompt futures contract followed suit…

The Biden administration is planning to invest $660 million to clean up orphaned natural gas and oil wells, with most of the funds earmarked for the energy producing states of Ohio, Pennsylvania and Texas. The goal is for the states to receive “economic growth and revitalization,” Department of Interior (DOI) officials said. The program would…

Natural gas futures forged ahead on Monday, bolstered by forecasts for peak summer heat and robust cooling demand. The August Nymex gas futures contract settled at $2.669/MMBtu, up 8.7 cents day/day. September rose 7.1 cents to $2.641. At A Glance: Prompt month gains 8.7 cents Cooling demand set to mount Production recovers in July  NGI’s…

With Texas heat receding to less extreme levels, and with a warm — but not sweltering — summer temperature outlook in the latest forecast maps, natural gas forwards prices pulled back during the June 22-28 trading period, NGI’s Forward Look data show. After surging 25.8 cents higher in the week-earlier period, Henry Hub gave back…

The Texas upstream industry added a record 6,800 jobs in May, but the oil and gas industry overall may be at risk as activity slows and the rig count falls because of low prices, according to a top state energy economist. The monthly Texas Petro Index (TPI) compiled by economist Karr Ingham for the Texas…

The Supreme Court of Texas has ruled in a split decision that the operator of the Texas power grid is shielded from civil lawsuits related to 2019’s Winter Storm Uri.  In a 5-4 opinion on Friday (June 23), the court found that sovereign immunity, which shields government agencies from most civil lawsuits, also protects the…