NGI The Weekly Gas Market Report

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…

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…

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…

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…

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…

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…

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…

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…

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…