NGI The Weekly Gas Market Report

Steamy Summer Weather, Producer Discipline Drive Stout Gains for Natural Gas Forward Prices

Steamy Summer Weather, Producer Discipline Drive Stout Gains for Natural Gas Forward Prices

With the scorching temperatures the South Central United States is used to seeing in the summer finally starting to build, and production lagging recent highs, August natural gas forward prices soared 32.0 cents on average during the trading period ending July 21, according to NGI’s Forward Look. Price gains were just as impressive for the…

July 22, 2021
Natural Gas Projects Spurring Industrialization Opportunities in Southern Mexico, Central America

Natural Gas Projects Spurring Industrialization Opportunities in Southern Mexico, Central America

Economic analysts, Mexican President Andrés López Obrador and U.S. Vice President Kamala Harris have all said that liquefied natural gas (LNG) could fuel an industrial boom in southern Mexico and Central America and lead to prosperity. Central America, with its population of some 44 million, has four natural gas projects, each valued at some $1…

July 22, 2021
North Dakota Oil Production Flat, But Gas Increases 1%

North Dakota Oil Production Flat, But Gas Increases 1%

North Dakota’s Bakken Shale oil production under-performed in its most recent monthly statistics, reflecting a “serious shortage of hydraulic fracturing (fracking) crews,” the state’s chief oil/natural gas regulator Lynn Helms reported Tuesday. Helms told a webinar with reporters that he expects to see improvement in the summer months, but the May statistics — 34.9 million…

July 22, 2021
Halliburton Anticipating ‘Multi-Year Upcycle’ After Improving on Income, Revenue in 2Q2021

Halliburton Anticipating ‘Multi-Year Upcycle’ After Improving on Income, Revenue in 2Q2021

Following a second quarter of across-the-board sequential improvement for the company’s financial metrics, including a 12% increase in revenue for its North America segment, management for Halliburton Co. sees itself at the start of a “multi-year upcycle.” Reported quarterly losses in 2020 were steep, but after getting back into the black financially in the first…

July 22, 2021
Germany, U.S. Reach Compromise on NS2, but European NatGas Supply Uncertainty Remains

Germany, U.S. Reach Compromise on NS2, but European NatGas Supply Uncertainty Remains

The United States and Germany have reached a compromise on Russia’s Nord Stream 2 (NS2) pipeline, clearing a path for the project to finish unencumbered.  In a joint statement issued Wednesday, the countries pledged their support for Ukraine and agreed to sanction Russia if it uses the pipeline or energy supplies for geopolitical advantage. “The…

July 22, 2021
Whiting Petroleum Bets on Bakken While Divesting DJ Basin Assets

Whiting Petroleum Bets on Bakken While Divesting DJ Basin Assets

Citing the current oil and natural gas commodity price environment and what makes the most sense on a capital investment basis, Whiting Petroleum Corp. on Wednesday doubled down on its exploration and production operations in the Bakken Shale of North Dakota. At the same time, it jettisoned all of the company’s oil and natural gas…

July 22, 2021
Kinder Morgan 2Q Earnings Slip into Red on Massive South Texas Impairment, but Macro Outlook ‘Bullish’

Kinder Morgan 2Q Earnings Slip into Red on Massive South Texas Impairment, but Macro Outlook ‘Bullish’

South Texas proved to be a sore spot for Kinder Morgan Inc. (KMI), as the company’s 2Q2021 earnings took a hit during an otherwise strong period in which the midstream giant made two substantial purchases. Houston-based KMI recorded a $1.6 billion, non-cash impairment related to anticipated lower volumes and rates on contract renewals on its…

July 22, 2021
Quebec Quashes Energie Saguenay LNG Terminal on Environmental Grounds

Quebec Quashes Energie Saguenay LNG Terminal on Environmental Grounds

Quebec upheld its reputation as no-go territory for fossil fuel projects Wednesday by denying environmental approval for a US$10.6 billion liquefied natural gas (LNG) export plan. GNL Quebec’s proposed Energie Saguenay terminal and Gazoduq pipeline failed to prove it would cut global greenhouse gas emissions, provincial Environment Minister Benoit Charette said in announcing the rejection.…

July 22, 2021
Woodside Inks Trucked LNG SPAs to Power Australian Mining Industry, On Track for Pluto Expansion FID

Woodside Inks Trucked LNG SPAs to Power Australian Mining Industry, On Track for Pluto Expansion FID

Woodside Petroleum Ltd. has entered a trio of sale and purchase agreements (SPA) to supply liquefied natural gas (LNG) sourced from its Pluto facility via truck to power Western Australia’s remote mining industry. Woodside said last week it and joint venture partner EDL had inked a 10-year SPA with miner Strandline Resources Ltd. to supply…

July 21, 2021
PG&E Equipment Potentially Linked to Raging Dixie Fire

PG&E Equipment Potentially Linked to Raging Dixie Fire

Pacific Gas and Electric Co. (PG&E) on Sunday told California regulators that its equipment may have been involved in the ignition of the now raging Dixie Fire in part of the Sierra Nevada mountain range in Northern California. A PG&E field employee reported a blown fuse on PG&E’s Bucks Creek 1101 12-kV overhead distribution circuit,…

July 21, 2021
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