January Nymex natural gas futures settled the Thursday regular trading session up 12.5 cents at $2.572/MMBtu, gaining ground after the release of a natural gas storage report that showed a larger withdrawal than expected for the week of Dec. 15. At A Glance: January futures up 12.5 cents Large 87 Bcf storage draw surprises Cash…
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Natural Gas Forwards Climb for Much of Lower 48, Though Demand Hub Premiums Shrink
Aside from further discounts at Western Lower 48 hubs, natural gas forwards generally gained ground during the Dec. 14-20 trading period as the prospect of chillier conditions arriving in early 2024 lent support to prices. Fixed prices for January and February delivery rallied week/week at Henry Hub. The January contract at the national benchmark exited…
Winter Natural Gas Consumption Falls to Multiyear Lows in 2023, EIA Says
Mild winter temperatures across much of the central and eastern United States reduced heating demand and dropped domestic natural gas consumption to the lowest levels in years. Following a cold start to winter last December, benign weather prevailed over the first two months of this year. As a result, in January, U.S. natural gas consumption…
Natural Gas Pipeline Blast and Ensuing Price Spikes Put U.S. West Vulnerability on Full Display
In a market at the forefront of the energy transition, natural gas price signals in the western United States instead are incentivizing the construction of newbuild pipeline capacity, according to RBN Energy LLC. Markets west of the Permian Basin have struggled to consistently maintain adequate natural gas supplies for some time now, RBN analyst Jason…
Interior Considering Moving BLM Headquarters West, Says Deputy
The Department of Interior’s (DOI) Bureau of Land Management (BLM) is considering moving its headquarters from Washington, DC, to a western state, according to elected officials and others in Colorado who attended a forum with the deputy secretary last week.
Co-Tenancy Awaiting Signature by West Virginia’s Governor
West Virginia’s natural gas industry is “anxiously awaiting” Republican Gov. Jim Justice’s signature on co-tenancy legislation that would modernize the mineral law and better accommodate unconventional development in the state.
Led by Texas, U.S. Land Permitting at Multi-Year High, Says Evercore
U.S. land permitting is off to a hot start in November, standing at 2,106 as of last Friday (Nov. 10), but a seasonal slowdown may temper year-end results, Evercore ISI said Tuesday.
West Virginia NatGas Production Increased Slightly in 2016
Combined conventional and unconventional natural gas production in West Virginia increased again last year, albeit at a lower rate than in years past, according to data from the state Department of Environmental Protection.
Study Finds Appalachian Basin Ripe for Underground NGL Storage
In a critical step to furthering petrochemical development in the Appalachian Basin, a team of researchers has concluded after a one-year study that there are multiple options for underground natural gas liquids (NGL) storage in various formations throughout the region.
West Virginia Lawmakers Exploring Ways to Expand Shale Gas Development
Republican leaders in the West Virginia legislature have formed an interim committee to explore more ways the state can attract and increase shale gas development.