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Natural Gas Futures, Weekly Prices Wobble as Weather Demand Fades, Production Holds Up

Natural Gas Futures, Weekly Prices Wobble as Weather Demand Fades, Production Holds Up

Ushering in the official start to the fall season, weekly natural gas cash prices gave up substantial ground amid mild temperatures, fading cooling demand and rising production. NGI’s Weekly Spot Gas National Avg. for the Sept. 19-23 trading period fell $1.185 to $6.485. Heat early in the week quickly dissipated by midweek and, as the…

September 23, 2022
Slump Endures for Natural Gas Futures, Cash Prices Amid Strengthening Supply

Slump Endures for Natural Gas Futures, Cash Prices Amid Strengthening Supply

Natural gas futures on Friday concluded a fifth consecutive weekly decline, led lower by abating cooling demand, increasing production and mounting storage. The October Nymex gas futures contract settled at $6.828/MMBtu to close the week’s final session, down 26.1 cents day/day. November fell 20.1 cents to $6.992. At A Glance: Futures slip below $7 handle…

September 23, 2022
Natural Gas Drilling Eases Lower as Numbers Grow in Oil Patch

Natural Gas Drilling Eases Lower as Numbers Grow in Oil Patch

The U.S. natural gas rig count fell two units to 160 for the week ended Friday (Sept. 23), while a three-rig increase in the oil patch pushed the combined domestic tally one unit higher overall to 764, according to updated numbers from Baker Hughes Co. (BKR). The combined 764 active U.S. rigs as of Friday…

September 23, 2022
Column: Understanding CFE’s Growing Role in the North American Natural Gas Market

Column: Understanding CFE’s Growing Role in the North American Natural Gas Market

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. For a while now, CFE Internacional (CFEi), a company incorporated in 2016 in Delaware, has been among the 15 largest marketers of…

September 23, 2022

Asian Spot LNG Price Starts to Firm as Winter Nears

SINGAPORE (ICIS) –The ICIS East Asia Index (EAX) firmed on 22 September on early TTF trades and tender information, resulting in a spot value of $41.00/MMBtu, $2/MMBtu higher than the previous day’s close.

September 23, 2022
Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Dragged lower by an upward swing in production, moderating weather and an ongoing curtailment of feed gas deliveries to the Freeport LNG facility, natural gas forward prices crumbled during the trading period from Sept. 15 to Sept. 21. Steep declines of more than 70 cents extended from the October contract through the winter season (November-March),…

September 23, 2022
Magnolia Founder, Longtime Oxy Chief Chazen Remembered for ‘Profound’ Impact on Oil, Gas Industry

Magnolia Founder, Longtime Oxy Chief Chazen Remembered for ‘Profound’ Impact on Oil, Gas Industry

Stephen Chazen, the former chief executive of Magnolia Oil & Gas Corp., has passed away, the independent exploration and production company (E&P) said Friday. Chazen, who led the company since its inception four years ago, stepped down from his position only two days prior to his death, citing serious health reasons. “We are greatly saddened…

September 23, 2022
Driftwood LNG Loses Shell, Vitol Supply Agreements in Major Setback

Driftwood LNG Loses Shell, Vitol Supply Agreements in Major Setback

Tellurian Inc. said Friday that two sales and purchase agreements (SPA) underpinning its proposed Driftwood LNG terminal in Louisiana have been terminated, dealing another major blow to the project, which was already facing delays. In a regulatory filing with the Securities and Exchange Commission (SEC), Tellurian said an affiliate of Shell plc had terminated a…

September 23, 2022
Oil Gains, Natural Gas Declines Keep U.S. Drilling Tally Steady Overall

Oil Gains, Natural Gas Declines Keep U.S. Drilling Tally Steady Overall

A modest gain in oil-directed drilling offset a small decline in natural gas activity to nudge the combined U.S. rig count one unit higher to 764 for the week ended Friday (Sept. 23), according to the latest tally from Baker Hughes Co. (BKR). Oil-directed rigs increased by three overall in the United States for the…

September 23, 2022
Natural Gas Futures, Cash Prices Drop as Shoulder Season Arrives

Natural Gas Futures, Cash Prices Drop as Shoulder Season Arrives

Natural gas futures fell for the third time this week after the latest government inventory data showed the biggest boost to underground storage this year, reflecting waning demand and robust production. The October Nymex gas futures contract dropped 69.0 cents day/day and settled at $7.089/MMBtu. November fell 63.4 cents to $7.193. NGI’s Spot Gas National…

September 23, 2022
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