Shale Daily

Natural Gas Futures Hold Onto Weather-Driven Gains as Storage Print Comes In-Line

Natural Gas Futures Hold Onto Weather-Driven Gains as Storage Print Comes In-Line

Natural gas futures gained on Thursday, supported by colder forecasts for next week and a government inventory report that showed supplies did not grow faster than expected. At A Glance: EIA reports 50 Bcf injection Forecasts colder for next week Production at 97.8 Bcf/d Coming off two days of price volatility caused in part by…

April 18, 2024
Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards

Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards

Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…

April 18, 2024
Oman Continues LNG Supply Push With Two New Deals – Three Things to Know About the LNG Market 

Oman Continues LNG Supply Push With Two New Deals – Three Things to Know About the LNG Market 

NO. 1: Feed gas deliveries to U.S. LNG export plants ticked back up on Thursday after recent downturns as maintenance season gets underway. Overall, U.S. feed gas demand was nominated at 10.8 Bcf, up 5% from Wednesday. Nominations for the Freeport liquefied natural gas export terminal in Texas on Thursday were at 276 MMcf, or…

April 18, 2024
ExxonMobil Greenlights Another Stabroek Project Offshore Guyana

ExxonMobil Greenlights Another Stabroek Project Offshore Guyana

ExxonMobil keeps powering ahead in its offshore Guyana program even as a contract dispute and geopolitical tensions cast a shadow over the oil-rich project. The company made a final investment decision for the Whiptail development, its sixth project on the offshore Stabroek block. It has the necessary approvals in place and the offshore platform is…

April 18, 2024
Federal Onshore Natural Gas, Oil Drilling Costs Rising as Interior Updates ‘Outdated’ Rules

Federal Onshore Natural Gas, Oil Drilling Costs Rising as Interior Updates ‘Outdated’ Rules

The Biden administration earlier this month finalized revamped onshore natural gas and oil leasing rules, increasing the royalty rates and, for the first time in 60 years, bumping up the cost for bonding requirements. The Department of Interior’s Fluid Mineral Leases and Leasing Process final rule revised regulations under the purview of the Bureau of…

April 18, 2024
Tightening Storage Surplus Lends Support to Natural Gas Futures – MidDay Market Snapshot

Tightening Storage Surplus Lends Support to Natural Gas Futures – MidDay Market Snapshot

Natural gas futures were slightly higher through midday trading Thursday, supported in part by an on-target government inventory report that showed a modestly shrinking surplus. Here’s the latest: May Nymex futures were up 3.9 cents to $1.751/MMBtu as of 2:23 p.m. ET The Energy Information Administration (EIA) reported a 50 Bcf injection into natural gas…

April 18, 2024
May Natural Gas Futures Jump After Storage Print Lands Near Expectations

May Natural Gas Futures Jump After Storage Print Lands Near Expectations

Utilities injected 50 Bcf of natural gas into storage for the week ended April 12, the U.S. Energy Information Administration (EIA) reported on Thursday. The result, near market expectations and avoiding the previous week’s bearish print, sent futures higher. Ahead of the 10:30 a.m. ET government report, May Nymex futures were trading 4.9 cents higher…

April 18, 2024
From LNG to Data Centers, Kinder Morgan Bullish on Natural Gas Growth

From LNG to Data Centers, Kinder Morgan Bullish on Natural Gas Growth

Producers of natural gas may be struggling with low prices, but for pipeline operators like Kinder Morgan Inc. (KMI), the outlook is anything but bearish. The Houston-based midstreamer, which transports about 40% of the natural gas consumed in the United States, kicked off the first quarter earnings season with stellar results and a positive message…

April 18, 2024
Portion of Plaquemines LNG’s 2 Bcf/d Pipeline Project Ready for Service, Venture Global Says

Portion of Plaquemines LNG’s 2 Bcf/d Pipeline Project Ready for Service, Venture Global Says

The chances of feed gas being introduced to Venture Global LNG Inc.’s Plaquemines LNG project by the end of the year could be rising as the firm awaits approval to place a portion of its pipeline in service. Venture Global asked FERC to allow it to begin introducing natural gas to the 11.7-mile, 42-inch diameter…

April 18, 2024
March CPI Data Show Energy Inflation Reawakened Despite Depressed Natural Gas Prices

March CPI Data Show Energy Inflation Reawakened Despite Depressed Natural Gas Prices

Stable natural gas prices were not enough to offset spikes in other energy costs in March, pushing the government’s measure of energy prices higher for the first time in a year. The U.S. Department of Labor said the Consumer Price Index (CPI) increased at a rate of 3.5% in the 12-month period through March. That…

April 18, 2024
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