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Canadian Natural Gas Production Holds Strong, on Track for Record Year Despite Price Weakness

Canadian Natural Gas Production Holds Strong, on Track for Record Year Despite Price Weakness

Natural gas production held near all-time highs through the first quarter in Canada, even as prices slumped following a mild winter that left supplies in storage at robust levels. That’s because producers are looking beyond near-term weakness and toward an anticipated jump in export demand, according to analysts. LNG Canada is slated to begin operations…

April 17, 2024
Kimmeridge Looks to Add to SilverBow’s Board After Pulling Merger Offer

Kimmeridge Looks to Add to SilverBow’s Board After Pulling Merger Offer

Activist investor Kimmeridge Energy Management Co. LLC has withdrawn its proposal to merge its natural gas-focused subsidiary with Eagle Ford Shale producer SilverBow Resources Inc.  The New York-based investment firm, which holds a 12.9% stake in SilverBow, in March proposed a tie-up between Kimmeridge Texas Gas LLC (KTG) and the Eagle Ford producer along with…

April 17, 2024
Equinor Bets On Electrification to Sustainably Extend Natural Gas Supply to Europe

Equinor Bets On Electrification to Sustainably Extend Natural Gas Supply to Europe

Equinor ASA is phasing out gas-fired generation in one of its most prolific natural gas production hubs in favor of electricity as it looks to increase both the sustainability and the lifespan of its North Sea operations. Norway’s Equinor disclosed that its offshore facilities at the Sleipner field and the adjacent Gudrun platform had been…

April 16, 2024
Energy Executives See Sub-$3 U.S. Natural Gas Prices Persisting Amid Supply Glut 

Energy Executives See Sub-$3 U.S. Natural Gas Prices Persisting Amid Supply Glut 

Oil and natural gas executives in the Midcontinent and Rocky Mountain regions don’t expect Henry Hub natural gas prices to surpass $3/MMBtu for another two years, according to the first quarter 2024 energy survey published by the Federal Reserve Bank of Kansas City. The survey gauges current and expected oil and gas activity levels in…

April 16, 2024
Production from Natural Gas Plays to Continue Declining This Spring, EIA Says

Production from Natural Gas Plays to Continue Declining This Spring, EIA Says

Natural gas production from seven key Lower 48 regions tracked by the U.S. Energy Information Administration (EIA) will slide from April to May, driven by declines in the Haynesville Shale and the Appalachian Basin. EIA’s latest Drilling Productivity Report (DPR), published Monday, modeled a combined 99.9 Bcf/d of natural gas output in May from seven…

April 16, 2024
EQT Gaining More Natural Gas-Rich Appalachia Acreage as Equinor Exiting Operated Lower 48 Position

EQT Gaining More Natural Gas-Rich Appalachia Acreage as Equinor Exiting Operated Lower 48 Position

EQT Corp., the nation’s largest natural gas producer, is swapping some Pennsylvania holdings in the Marcellus Shale in an exchange with Norway’s Equinor ASA, which is handing off its operations in Ohio and paying $500 million to balance the overall transaction. The agreement with Equinor USA Onshore Properties Inc. and affiliates includes 100% of its…

April 15, 2024
U.S. Sheds One Natural Gas Rig, Combined Domestic Count Down Three

U.S. Sheds One Natural Gas Rig, Combined Domestic Count Down Three

The U.S. natural gas rig count fell one unit to finish at 109 for the week ended Friday (April 12), while a small decrease in oil drilling dropped the combined domestic tally three units to 617, according to the latest numbers from Baker Hughes Co. (BKR). Total domestic natural gas rigs finished the period down…

April 12, 2024
APA Curtails Permian Natural Gas Output, Citing Negative Waha Prices

APA Curtails Permian Natural Gas Output, Citing Negative Waha Prices

APA Corp. said Wednesday it curtailed about 35 MMcf/d of U.S. natural gas production during the first quarter, mostly during March. The curtailment was “in response to weak or negative Waha hub prices.” Waha is the hub of record for the Permian Basin, which spans West Texas and portions of southeastern New Mexico. Waha prices…

April 11, 2024
Drought Seen Impacting Western Canada’s Natural Gas, Oil Operations

Drought Seen Impacting Western Canada’s Natural Gas, Oil Operations

Canadian oil and natural gas operators are working to manage water use as western provinces face increasingly dry conditions after a mild winter.  Exploration and production (E&P) companies achieved record natural gas production last winter, according to the latest data from the Canada Energy Regulator. Total marketed natural gas production during December was more than…

April 11, 2024
Natural Gas Prices Said Still Too Low for E&Ps to Bring On More Production

Natural Gas Prices Said Still Too Low for E&Ps to Bring On More Production

U.S. natural gas exploration and production (E&P) companies have reduced output in response to high inventories and the low price environment, but now the query is, when might production return? Price will tell, according to analysts. Lower 48 natural gas output has fallen below 100 Bcf/d, down from record highs around 107 Bcf/d early this…

April 10, 2024
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