NGI The Weekly Gas Market Report

Natural Gas Forward Prices Fueled by Heat, Improving Export Outlook and Lower Production Trajectory

Natural Gas Forward Prices Fueled by Heat, Improving Export Outlook and Lower Production Trajectory

Natural gas traders couldn’t bear the scorching temperatures any longer, as heat indexes surged above 100 degrees across the United States and boosted forward prices for the July 23-29 period, according to NGI’s Forward Look. With the prospect of improving export demand and lower gas production in the months ahead, prices for the winter and…

July 30, 2020
ConocoPhillips Reversing North American Curtailments, Monitoring Oil, Gas Prices

ConocoPhillips Reversing North American Curtailments, Monitoring Oil, Gas Prices

Houston-based ConocoPhillips has begun ramping up shut-in oil and gas volumes from across North America, with most output set to be “fully restored” in September. The largest independent in the world issued its second quarter results on Thursday, with CEO Ryan Lance sharing insight during a conference call. He acknowledged what many of his peers…

July 30, 2020
Oneok Says Natural Gas, NGL Volumes Rebounding Sharply Across Lower 48 as Upstream Activity Resumes

Oneok Says Natural Gas, NGL Volumes Rebounding Sharply Across Lower 48 as Upstream Activity Resumes

Tulsa-based midstreamer Oneok Inc. has seen a sharp increase in natural gas and natural gas liquids (NGL) throughput across its operating areas in recent weeks, management said Tuesday. After bottoming out in May and June, volumes are rising as exploration and production (E&P) customers bring curtailed production back online and commodity prices stabilize, CEO Terry…

July 30, 2020
EU Grants Promote Use of LNG as Transportation Fuel

EU Grants Promote Use of LNG as Transportation Fuel

The European Union (EU) has approved grants for its member states to increase the use of liquefied natural gas (LNG) as a transportation fuel for ships, cars and trucks. The funding, approved earlier this month, is part of a 2.2 billion euro ($2.6 billion) package to support 140 transportation projects in the EU. Of that…

July 30, 2020
Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Royal Dutch Shell plc swung to a massive loss in 2Q2020, torn down by a historic loss in natural gas and oil demand, with CEO Ben van Beurden warning the long-term energy outlook remains uncertain as long as the global pandemic wreaks economic havoc. The Anglo-Dutch supermajor said the 2Q2020 current cost of supplies (CCS),…

July 30, 2020
Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

President Trump rallied West Texas oil and natural gas workers on Wednesday afternoon during a visit to Midland, in the heart of the Permian Basin, touting American energy dominance and claiming the industry is not only back on track but expanding. The campaign speech of sorts came during a brief visit after the president toured…

July 30, 2020
North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

The diversified systems of two of North America’s largest midstream companies were positioned for a solid second quarter in which lower oil volumes were partially offset by strength in natural gas, natural gas liquids (NGL) and storage. Enterprise Products Partners LP (EPD) and Enbridge Inc. reported second quarter results on Wednesday, with each company highlighting…

July 30, 2020
Matador’s Results Beat Expectations, Deliver Record Oil Output, Stronger Natural Gas Volumes

Matador’s Results Beat Expectations, Deliver Record Oil Output, Stronger Natural Gas Volumes

Dallas-based independent Matador Resources Co., whose operations span the Permian Basin, Eagle Ford and Haynesville shales, boosted oil and natural gas production in the second quarter using smaller but more efficient operations, management said Wednesday. Even with some output shut-in and with lower commodity prices, average net oil volumes climbed to a record quarterly high…

July 29, 2020
Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Tulsa-based Helmerich & Payne Inc. (H&P), which fabricates and operates a fleet of high-performance drilling rigs around the world, is aligning operations toward performance-based commercial models rather than the industry standard dayrates to build customer support, CEO John Lindsay said Wednesday. What historically were separate U.S. Land Operations and HP Technologies business segments have been…

July 29, 2020
Tokyo Gas Raising Stake in Haynesville-Focused Castleton Resources

Tokyo Gas Raising Stake in Haynesville-Focused Castleton Resources

Tokyo Gas Co. Ltd. said Wednesday it is increasing its stake in Haynesville Shale producer Castleton Resources LLC to expand its portfolio in North America.  Through a subsidiary, Tokyo Gas agreed to boost its ownership interest to 70% from 46% for an undisclosed amount. Castleton, a natural gas-focused operator with assets in East Texas that…

July 29, 2020
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