Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Chris Lenton, senior editor of Mexico and Latin America, sits down with Rosanety Barrios, who heads the energy team for Mexican presidential candidate Xóchitl Gálvez. Barrios details how Mexico’s energy sector, including state companies Comisión Federal de Electricidad (CFE)…
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Jones Cowboys Up Another $100M to Gain Two-Thirds Control of Haynesville Giant Comstock
Dallas Cowboys owner Jerry Jones, already majority shareholder in Haynesville Shale pure-play Comstock Resources Inc., has agreed to invest an additional $100.5 million into the company. Two Jones entities agreed to acquire 12.5 million shares of common stock in the private placement at $8.036/share. The price represents the average closing prices for the five trading…
Mexico Presidential Hopeful Gálvez Looking to Transform Nation’s Energy Sector
Opposition candidate Xóchitl Gálvez promises to shake up Mexico’s energy sector if she wins the elections in June. Gálvez would respect the laws of competition as enshrined in the constitution, promote the domestic production of natural gas and renewable energy and work to develop a regional energy strategy, Rosanety Barrios, the head of her energy…
NGI’s 4Q2023 Mexico Natural Gas Market Analyst Takeaways
Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season. SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens…
Appalachia, Haynesville Natural Gas Production Seen Falling into April, EIA Data Show
Natural gas production from major Lower 48 plays will hold mostly steady from March to April as oil-focused regions boost output to offset declines in the Haynesville Shale and Appalachian Basin, according to the U.S. Energy Information Administration (EIA). EIA in its latest monthly Drilling Productivity Report (DPR) modeled combined natural gas production from seven…
Chevron’s Guyana Mega-Deal Facing Hurdles as Oil, Natural Gas Industry Consolidates
ExxonMobil is trying to put a stop to Chevron Corp. and its bid to enter the lucrative Guyanese offshore oil and natural gas patch. The company has filed for arbitration, claiming Chevron’s bid to snap up Hess Corp.’s Guyana assets goes against a contract clause that grants ExxonMobil a right of first refusal. Last October,…
No Uplift for Bakken Natural Gas Prices as Supply Glut Continues
Natural gas prices in North Dakota continue to languish at nearly 30-year lows amid nationwide oversupply, according to the state’s top oil and gas regulator. Production cuts announced by large operators in the gassy Marcellus and Haynesville shales have so far failed to meaningfully boost prices. “We’re seeing rigs lay down in the natural gas…
Haynesville Shale Adds Two Rigs as U.S. Natural Gas Drilling Count Climbs
Including an uptick in Haynesville Shale activity, the U.S. natural gas rig count increased by one to finish the week ended Friday (March 15) at 116, the latest Baker Hughes Co. (BKR) data show. The 116 active natural gas rigs as of Friday compares with 162 rigs running at this time a year ago, according…
EIA Cuts U.S. Natural Gas Price Forecast Amid Warm Winter Temps, Stout Supply
The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday. EIA, in its latest Short-Term Energy Outlook (STEO), modeled an average Henry Hub price of $2.27/MMBtu for 2024,…
Natural Gas Market Bracing for Possible Early Storage Injection, Extended Price Decline
What remains of the official natural gas inventory withdrawal season could be limited by the possible net injection into natural gas stocks for the week of March 8. Amid already swollen natural gas supplies, an early injection, although not unprecedented, could send natural gas prices reeling. In its upcoming storage report, the U.S. Energy Information…