Natural gas production from the Lower 48 states during May was essentially unchanged from April, according to Energy Information Administration (EIA) data, while consumption during the month set a record.
Unchanged
Articles from Unchanged
Rosetta Resources: Back at the (Gates) Ranch, There’s Profit
Houston-based Rosetta Resources Inc. grew net income and revenues during the second quarter, thanks to more production that was more heavily weighted to liquids. Where one goes to get that in Texas — as everyone knows — is the Eagle Ford Shale. As it continues to develop its core Gates Ranch area there, Rosetta is stepping out as well.
EIA: Demand Up in May; Production Steady
Natural gas production from the Lower 48 states during May was essentially unchanged from April, according to Energy Information Administration (EIA) data, while consumption during the month set a record.
Last-Minute Futures Change of Heart Upstages Overall Cash Weakness
It was a tale of two markets Tuesday as cash prices were content to trade within about a two-cent range on either side of unchanged and futures traders covered short positions at the end of the session.
TransCanada Seeks 2013 Startup for First Phase of Keystone Pipeline
A two-phase approach to the Keystone XL oil pipeline from Canada to U.S. Gulf Coast refineries should result in a new line from Oklahoma to the Gulf being in place sometime next year, with the XL phase from Canada to Nebraska following by early 2015, the CEO of the project’s sponsor, TransCanada Corp., said Friday. The latter is the only part of the project now requiring a federal Presidential Permit from the U.S. State Department.
Ohio Budget Bill Passes House Without New Oil, Gas Taxes
Legislators in the Ohio House of Representatives have passed a mid-biennium budget review bill but stripped out Gov. John Kasich’s proposals to restructure taxes and regulations on the oil and natural gas industry.
Overall Market Mixed, Yet Futures Score Impressive Pre-Storage Report Gains
For the most part physical gas Wednesday traded a couple of pennies on either side of unchanged. Average prices were flat, but Northeast points were soft, and Southern California prices took a hit following forecasts of cooler weather. Futures traders were pleased with the day’s nearly double-digit advance, and at the close May had risen 9.3 cents to $2.068 and June had gained 10.7 cents to $2.170. June crude oil added 57 cents to $104.12/bbl.
Northeast, Rockies Firm in Overall Flat Trading; Futures Sink
Physical natural gas prices on average were unchanged Tuesday with some Northeast points showing strength along with the Rocky Mountains. Following Monday’s strength, futures prices reverted to the recent trend of probing lower as market technicians fear the worst and point to the likelihood of prices as much as a dollar lower by August. At the close of futures trading, May had retrenched 6.5 cents to $1.951 and June had fallen 6 cents to $2.048. May crude oil added $1.27 to $104.20/bbl.
Gulf, Texas Weakness Countered by SoCal Strength; Futures Rise
Physical gas prices nationally fluctuated within a few cents of unchanged and closed slightly lower by about a penny in Monday’s trading as temperatures were expected to trend toward more seasonal readings in the Northeast and Midwest markets. Texas and the Gulf Coast edged lower, but Southern California points were steady to higher. At the close of futures trading May had risen 1.8 cents to $2.107 and June had gained 2.2 cents to $2.223. May crude oil closed the day down 85 cents to $102.46/bbl.
California Weakness Offset by Firmness Elsewhere; Futures Swoon
The physical market slipped about a penny Thursday with quotes mostly about one or two cents on either side of unchanged. California points suffered a serious drubbing as a trio of factors combined to send points in the southern portion of the state reeling. Industrial users buying at index saw a market that did not look like it would turn around for several years and admitted any losses on the purchase of physical gas were made up by gains in the financial markets.