NGI The Weekly Gas Market Report

Poland and Bulgaria are receiving help from neighboring countries and liquefied natural gas (LNG) suppliers to help weather Russia’s decision to cut off natural gas supplies. When Gazprom PJSC cut off deliveries to both countries last month for refusing to comply with Russia’s payment requirements for natural gas, Greece and other nations in southeast Europe…

Natural gas prices at points key to Mexico surged above $8.00/MMBtu this week as hot weather in North America and lingering production concerns drove bullish sentiment in the market. Analysts continue to see pricing being pushed to the upside in the months ahead. The U.S. Energy Information Administration (EIA) expects natural gas delivered to electric…

U.S. oilfield services (OFS) and equipment sector employment reached an estimated 622,309 jobs in April, its highest level since September, the Energy Workforce & Technology Council reported in early May. “Oil and gas demand has continued to increase, and global demand will continue to rise as more countries cut off imports of Russian energy resources,”…

Centennial Resource Development Inc. and Colgate Energy Partners III LLC agreed to a roughly $7 billion merger of equals that would create what may be the largest pure-play exploration and production (E&P) company in the Permian Basin’s Delaware sub-basin. Publicly traded Centennial and privately held Colgate together hold roughly 180,000 net leasehold acres, 40,000 net…

North Dakota’s tally of active oil and natural gas drilling rigs and hydraulic fracturing (frack) crews has risen to levels not seen since the start of the pandemic, the state’s top oil and gas regulator said Friday. The rig count stood at 40 as of Friday, the highest since March 2020, North Dakota Department of…

The Ballymore oil and natural gas project in the deepwater Gulf of Mexico (GOM), which would be developed using a three-mile subsea tieback to reduce costs, has gotten a thumb’s up to proceed.  The Mississippi Canyon prospect, with design capacity of 75,000 b/d of crude oil, would be tied back to the Chevron-operated Blind Faith…

U.S. Treasury Secretary Janet Yellen said the United States and Europe needed to “go further” in confronting Russia’s war against Ukraine, while expanding the “potent transatlantic cooperation to address many of the other shared challenges we face.” Speaking at the Brussels Economic Forum on Tuesday, Yellen said “we must address the present energy security emergency…

The European Commission (EC) on Tuesday released a long list of measures aimed at supporting its plan to end Russian energy imports that would significantly reduce the continent’s consumption of fossil fuels. Energy efficiency efforts, fuel substitution, electrification and what the commission said would be a “massive scaling-up and speeding-up of renewable energy,” could cut…

FERC has prepared a draft environmental impact statement (DEIS) for a Tellurian Inc. pipeline project that would potentially serve natural gas demand in Southwestern Louisiana and the company’s Driftwood liquefied natural gas (LNG) export project.  The Federal Energy Regulatory Commission (FERC) concluded that construction and operation of the Driftwood Line 200 and Line 300 projects…