NGI The Weekly Gas Market Report

The Energy Information Administration (EIA) on Wednesday said U.S. oil refinery input for the week ending June 26 averaged 14 million b/d, about 193,000 b/d higher than in the previous week, but the recent spike in Covid-19 cases nationwide may drive consumers back indoors, according to experts. U.S. refineries operated at 75.5% of their capacity…

Houston-based Sanchez Energy Corp. late Tuesday said it had completed a financial restructuring and emerged from bankruptcy as Mesquite Energy Inc., a private explorer still intent on keeping its focus in the Eagle Ford Shale. The reorganization under Chapter 11, begun in 2019, eliminated nearly all of the $2.3 billion debt. “We are excited to…

The European natural gas market is finding refuge in Ukraine, where vast storage facilities are increasingly being utilized by traders, suppliers and utilities in a way that has helped to prevent prices from collapsing into negative territory amid a supply glut.  Ukrtransgaz, which manages storage and the country’s transmission system operator, has incentivized European traders…

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a new analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…

Two Texas-based operators have joined forces to create a virtual pipeline business designed to move compressed and liquefied natural gas (LNG) to customers nationwide. Sapphire Gas Solutions was created by Dallas-based BP Energy Partners (BPEP) affiliate Blue Roads Solutions and Thigpen Solutions, which is based near Houston in Conroe. Sapphire is to provide gas and…

Residential electricity sales in the United States surged to a record high in April, while cratering in the commercial and industrial sectors, a result of measures taken to reduce the spread of Covid-19, according to the Energy Information Administration (EIA). Total electricity sales in the United States declined 4% in April compared with the same…

Covia Corp., which provides proppants for oil and gas well operations across North America, on Tuesday said it had filed for bankruptcy, making it the third U.S. energy company in three days to seek Chapter 11 protection.  The petition to reorganize under Chapter 11 was filed in the U.S. Bankruptcy Court for the Southern District…

Mexico’s Comisión Reguladora de Energía (CRE) on Tuesday informed employees of mass layoffs effective immediately, with the natural gas regulation segment hit especially hard, a former employee confirmed to NGI’s Mexico GPI. The former employee, who asked to remain anonymous, said an estimated 200 staffers, or about 40% of CRE’s workforce, were told to return…

FERC’s practice of issuing tolling orders to extend its rehearing process for pipeline projects is not consistent with federal statute, the U.S. Court of Appeals for the District of Columbia Circuit has ruled. The ruling could prove a major boon for pipeline opponents by allowing them to more quickly seek judicial review of Federal Energy…