Technical market indicators suggest a bottom could be near for the newly anointed prompt-month June futures contract on the New York Mercantile Exchange (Nymex). June futures settled down 6.3 cents at $1.923/MMBtu on Friday (April 26). On Monday, the contract’s first day in the lead position, losses were reversed as June increased 10.7 cents to…
Daily GPI
Articles from Daily GPI
June Natural Gas Adds to Gains as Production Dips Further in Estimates
Natural gas futures were trading higher at the front of the curve early Tuesday as updated estimates offered further evidence of declining springtime production volumes. Coming off a 10.7-cent rally on Monday, the June Nymex contract was up 1.3 cents to $2.043/MMBtu at around 8:50 a.m. ET. Estimates from Wood Mackenzie as of early Tuesday…
Natural Gas Futures Rally Above $2 on LNG Rebound, Supply Slowdown; Cash Jumps
Natural gas futures pushed higher on Monday, boosted by a full restart of Freeport LNG’s third train, supply interruptions in the Permian Basin and expectations for a below-average storage injection. At A Glance: June takes over as front month Freeport restarts third train NGI models 56 Bcf injection The June Nymex contract settled 10.7 cents…
Venture Global Aims for Plaquemines LNG First Production By Summer – The Offtake
Venture Global LNG Inc. is looking to import at least three liquefied natural gas cargoes to aid in commissioning of Plaquemines LNG, according to a Department of Energy (DOE) filing.
Freeport Restart Pushes Global Natural Gas Prices Lower – LNG Recap
European and Asian natural gas prices fell Monday as supply constraints eased, mainly at Freeport LNG on the upper Texas coast, which has restarted one of its three trains. Feed gas flows to the facility ticked upward over the weekend and were nominated Monday at nearly 800 MMcf/d, or their highest level in three weeks.…
Lower 48 E&P Activity Waning but Renewed Opportunities Seen in Deepwater GOM
The Gulf of Mexico (GOM) for decades was the breadbasket for U.S. natural gas and oil production, but the Lower 48 took over as unconventional drilling uncorked massive reserves. As onshore activity has waned, however, the deepwater is once again beckoning. Enverus Intelligence Research (EIR) director Andy McConn recently shared the firm’s outlook about the…
Freeport Outage Cuts Into TotalEnergies’ First Quarter LNG Sales
TotalEnergies SE said Friday that its LNG sales decreased in the first quarter mainly due to lower demand in Europe and an unplanned outage at the Freeport export terminal on the upper Texas coast. The company has 2.2 million tons (Mt) of annual tolling capacity at Freeport’s Train 3, which was offline most of the…
Chevron’s Permian Operations See Improvements in ‘Frack-to-Pop Cycle Times’
Chevron Corp.’s domestic operations, particularly in the Permian Basin, performed “stronger than we had anticipated” in the first quarter, with improved cycle times and natural gas and oil output, CEO Mike Wirth said Friday. During a conference call to discuss quarterly performance, Wirth explained to analysts how the Permian portfolio improved as the wellhead-to-sales times…
Could Summer Demand, Lower Production Curb East Region Natural Gas Inventory Surpluses?
Supplies of natural gas in storage are stout everywhere, but East region inventories are closer to historical norms than any other section of the Lower 48. Should the densely populated Northeast sizzle amid scorching temperatures as forecast this summer, utilities in the heavy-gas consuming corner of the country could burn through more gas in the…
LNG Uptick, Production Weakness Nudge Natural Gas Futures Higher Early
Natural gas futures clawed back some of their recent losses early Monday as soft production and hints of strengthening export demand supported prices. Coming off a 6.3-cent sell-off in Friday’s session, the June Nymex contract was up 2.3 cents to $1.946/MMBtu at around 8:45 a.m. ET. The May contract rolled off the board late last…