Daily GPI

June, July Natural Gas Futures Tumble Amid Cooler Weather, Production Boost

June, July Natural Gas Futures Tumble Amid Cooler Weather, Production Boost

June Nymex natural gas futures took a beating on its final day, with the lead contract Wednesday rolling off the board down 9.7 cents as the prognosis for supply and demand slightly shifted. At A Glance: June down 9.7 cents July sinks 15.9 cents  Weather shifts cooler June futures settled at $2.493/MMBtu. Pulling into the…

May 29, 2024
Mexico Appetite for Financing Energy Said Strong Amid Nearshoring Boom

Mexico Appetite for Financing Energy Said Strong Amid Nearshoring Boom

Improving Mexico’s energy and natural gas fortunes may be as simple as changing the regulatory environment, experts said recently in San Antonio, TX. “Between banks and the capital markets, there is an infinite capacity to finance needs” in Mexico’s natural gas and energy sector, said Société Générale SA’s Adolfo Villareal, Energy Project Finance director of…

May 29, 2024
Texas LNG Looks to Push In-Service to 2029 After ‘Protracted’ Legal Challenges

Texas LNG Looks to Push In-Service to 2029 After ‘Protracted’ Legal Challenges

The developer of the proposed Texas LNG project has asked FERC for an additional five years to build and place the 4 million metric ton/year (mmty) export terminal into service. Texas LNG Brownsville LLC, a unit of Glenfarne Energy Transition LLC, reported to Federal Energy Regulatory Commission staff in a recent filing that the “protracted…

May 29, 2024
ConocoPhillips, Marathon Oil Join Mega Merger Parade to Create Giant in U.S. Onshore 

ConocoPhillips, Marathon Oil Join Mega Merger Parade to Create Giant in U.S. Onshore 

Houston-based ConocoPhillips, the world’s largest independent producer, is moving to become even bigger in an estimated $22.5 billion all-stock takeover of crosstown rival Marathon Oil Corp. The transaction, which includes $5.4 billion net debt, would add “complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio,” CEO Ryan Lance said.  The transaction includes more than 2 billion…

May 29, 2024
Haynesville Heavy Aethon to Buy Tellurian’s Louisiana Assets, Partner in Driftwood LNG

Haynesville Heavy Aethon to Buy Tellurian’s Louisiana Assets, Partner in Driftwood LNG

Tellurian Inc. on Wednesday gained a lifeline for its stalled Driftwood LNG project in Louisiana after Aethon Energy Management LLC agreed to buy the Haynesville Shale portfolio and become a stakeholder in the still-unsanctioned Gulf Coast export facility.  In a heads of agreement (HOA), the companies negotiated a 20-year offtake agreement for 2 million metric…

May 29, 2024
Natural Gas Futures Pull Back Ahead of June Expiry as Production Seen Returning

Natural Gas Futures Pull Back Ahead of June Expiry as Production Seen Returning

With traders assessing shifts in the supply outlook as summer cooling demand ramps up, natural gas futures pulled back early Wednesday. The expiring June contract was down 4.5 cents to $2.545/MMBtu at around 8:30 a.m. ET. July was trading at $2.779, down 4.6 cents. Recent history points to potential downside for the expiring front month…

May 29, 2024
Expiring Natural Gas Futures Gain in Consolidation with Fundamental Support; Cash Prices Up

Expiring Natural Gas Futures Gain in Consolidation with Fundamental Support; Cash Prices Up

June Nymex natural gas futures fluctuated on either side of unchanged early Tuesday and ultimately closed on the plus side as traders positioned ahead of the contract’s Wednesday expiration with fundamentals supporting. At A Glance: June up 7.0 cents July gains 5.2 cents Spot gas higher The front-month contract settled at $2.590/MMBtu, up 7.0 cents.…

May 28, 2024
Asian Natural Gas Prices Continue Climb Amid Spot Buying, Supply Concerns – LNG Recap

Asian Natural Gas Prices Continue Climb Amid Spot Buying, Supply Concerns – LNG Recap

Asian buyers are seeking more LNG spot cargoes and shoring up long-term supply while Europe awaits the impacts from further cuts of Russian natural gas imports and global terminal outages. Prices in east Asia rose to the mid-$12/MMBtu range to start off the week amid a fresh wave of spot purchases and tenders. Korea Middle…

May 28, 2024
Natural Gas Technicals Take Back Seat Ahead of June Futures Contract’s Expiry 

Natural Gas Technicals Take Back Seat Ahead of June Futures Contract’s Expiry 

Natural gas price bulls took a hit late last week as prompt-month natural gas futures sold off, taking technical indicators out of oversold territory ahead of the June contract rolling off the board Wednesday. The June New York Mercantile Exchange (Nymex) contract settled at $2.520/MMBtu Friday, down about 14% from an intraday high of $2.924…

May 28, 2024
Energy Transfer Snapping Up Permian Assets in $3.25B Deal for WTG Midstream

Energy Transfer Snapping Up Permian Assets in $3.25B Deal for WTG Midstream

Energy Transfer LP is expanding its access to Permian Basin natural gas and natural gas liquids (NGL) in a $3.25 billion deal to acquire WTG Midstream Holdings LLC from a subsidiary of independent Diamondback Energy Inc. and investment firm Stonepeak. Private midstreamer WTG primarily operates in the Permian’s prolific Midland sub-basin. Through the deal, Energy…

May 28, 2024
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