NGI The Weekly Gas Market Report

Texas Governor, Regulators Pledge to Quash Burdens Wrought by High Natural Gas, Electricity Prices

Texas Governor, Regulators Pledge to Quash Burdens Wrought by High Natural Gas, Electricity Prices

The Railroad Commission of Texas (RRC) plans to explore “all options” to reduce any financial burdens to consumers brought about because of high natural gas and electricity costs related to last week’s unprecedented winter storms. Regulators also were in “daily contact” with producers, pipeline operators and electric regulators to ensure natural gas supplies continue to…

February 22, 2021
Haynesville-Focused Comstock ‘Hitting the Jackpot’ as Natural Gas Prices Skyrocket, Export Demand Improves

Haynesville-Focused Comstock ‘Hitting the Jackpot’ as Natural Gas Prices Skyrocket, Export Demand Improves

With natural gas prices up and exports climbing, Haynesville Shale-focused Comstock Resources Inc. is looking to have a “fabulous” 2021, CEO Jay Allison said last week. A conference call to discuss 4Q2020 performance and the outlook for 2021 was held in the midst of the deep freeze in Texas, which sent gas prices soaring.  Comstock…

February 22, 2021
Natural Gas Played Starring Role in Texas Energy Crisis, Analysts Find

Natural Gas Played Starring Role in Texas Energy Crisis, Analysts Find

Although numerous factors contributed to the polar vortex-induced energy crisis in Texas, the central role of natural gas — or lack thereof — was becoming increasingly clear Friday as temperatures began to rise and power was restored. The unprecedented cold snap drove Texas power demand to new winter peak records rivalling peak demand figures in…

February 19, 2021
COLUMN: Mexico’s Dependence on Texas Gas, Lack of Backup Strategy Exposed

COLUMN: Mexico’s Dependence on Texas Gas, Lack of Backup Strategy Exposed

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. Prud’homme was central to the development of Cenagas, the nation’s natural gas pipeline operator, an entity formed in 2015 as part of…

February 19, 2021
UGI’s Stonehenge Pays $205M for Pine Run Midstream

UGI’s Stonehenge Pays $205M for Pine Run Midstream

Pine Run Gathering LLC, a joint venture owned by subsidiaries of Stonehenge Energy Resources III LLC and UGI Energy Services LLC (UGIES), has completed a transaction to acquire Pine Run Midstream LLC for $205 million. The acquisition is from Pittsburgh-based independent PennEnergy, an anchor customer on the Pine Run system.  Pine Run Midstream currently operates…

February 19, 2021
FERC Reconsidering Approach to Certify Natural Gas Projects

FERC Reconsidering Approach to Certify Natural Gas Projects

FERC said it would reevaluate the federal government’s approach to certifying natural gas pipelines. Current policy dates to the late 1990s, and key regulators say that, as climate change concerns mount, a re-examination of how infrastructure proposals are approved is overdue. At its monthly meeting Thursday, the Federal Energy Regulatory Commission announced it would examine…

February 19, 2021
U.S. LNG Exports Bouncing Back as Weather Finally Shifts Along Gulf Coast

U.S. LNG Exports Bouncing Back as Weather Finally Shifts Along Gulf Coast

U.S. liquefied natural gas (LNG) exports were slowly recovering Friday, but the impacts of brutal cold along the Gulf Coast that nearly halted shipments altogether were lingering.  Eighteen empty LNG vessels were floating in the Gulf of Mexico Friday, up from 12 on Thursday, Kpler economist Reid I’Anson told NGI. Another two tankers were diverted…

February 19, 2021
U.S. Rig Count Flat as Industry Takes Stock After Week of Tumult

U.S. Rig Count Flat as Industry Takes Stock After Week of Tumult

In a week that saw a deep freeze disrupt operations for many Lower 48 producers, the U.S. rig count went unchanged overall, ending at 397 as of Friday (Feb. 19), according to the latest data from Baker Hughes Co. (BKR). A one-rig increase in natural gas-directed drilling offset a one-rig decline in oil rigs, putting…

February 19, 2021
Coastal GasLink’s Cost, Timeline Increase on Covid Workforce Slowdowns

Coastal GasLink’s Cost, Timeline Increase on Covid Workforce Slowdowns

The Covid-19 pandemic has inflicted increased construction costs and delay on Coastal GasLink, the conduit designed to supply the Royal Dutch Shell plc-led liquefied natural gas (LNG) export project underway in British Columbia (BC), according to TC Energy Corp. “We expect project costs will increase significantly and the schedule will be delayed,” TC management said…

February 19, 2021
EQT Shifting More Focus to West Virginia, With No Plans to Drill in Ohio This Year

EQT Shifting More Focus to West Virginia, With No Plans to Drill in Ohio This Year

EQT Corp. is planning more drilling and completion activity this year in West Virginia, where it will focus on lowering well costs in a state that’s home to a large chunk of its assets.  “I think when you step back and look at the assets that we have, about 40% of our leasehold is in…

February 19, 2021