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Eastern Med Group Formed Without Turkey to Cooperate on Natural Gas Resources

Eastern Med Group Formed Without Turkey to Cooperate on Natural Gas Resources

Several Eastern Mediterranean countries have formally established an intergovernmental organization to cooperate in developing the massive offshore natural gas fields in the region, conspicuously leaving out Turkey as a member state. The East Mediterranean Gas Forum (EMGF) is to be based in Cairo and any East Mediterranean country can apply for membership, the Egyptian Ministry…

September 23, 2020
October Natural Gas Futures Sink As Markets Absorb Supply/Demand Uncertainty

October Natural Gas Futures Sink As Markets Absorb Supply/Demand Uncertainty

U.S. liquefied natural gas levels improved, but production also increased Cool temperatures across much of the central United States could dampen demand Record-setting heat in the West forced planned power outages in California Natural gas futures gave up ground on Tuesday as markets weighed a mixed weather outlook and new data pointing to both increased…

September 9, 2020
Win Streak Ends for August Natural Gas Futures, Despite Continued Strong Heat Outlook

Win Streak Ends for August Natural Gas Futures, Despite Continued Strong Heat Outlook

Profit-taking and simmering skepticism about the outlook for liquefied natural gas (LNG) on Wednesday snapped a three-day winning streak for natural gas futures. The August Nymex contract lost 5.2 cents day/day and settled at $1.824/MMBtu. September fell 6.3 cents to $1.876.  NGI’s Spot Gas National Avg. rose a half-cent to $1.755. After swooning to a…

July 8, 2020
LNG, Production Changes Pressure Natural Gas Futures Lower Early

LNG, Production Changes Pressure Natural Gas Futures Lower Early

Weak export demand and an uptick in production estimates saw natural gas futures reverse lower in early trading Wednesday. The August Nymex contract was off 4.6 cents to $1.830/MMBtu at around 8:45 a.m. ET. The sell-off in the August contract could be attributed to a small upward revision in the latest production data and another…

July 8, 2020
LNG Recap: Berkshire Hathaway Affiliate to Takeover Operations at Cove Point

LNG Recap: Berkshire Hathaway Affiliate to Takeover Operations at Cove Point

A Berkshire Hathaway Inc. affiliate will take over operations of the Cove Point liquefied natural gas (LNG) export terminal after it agreed to acquire a 25% stake in the facility as part of a broader $9.7 billion deal to buy Dominion Energy Inc.’s natural gas transmission and storage segment.  Dominion will retain a 50% passive…

July 6, 2020
July Bidweek Marked by Discounts as Natural Gas Traders Mull Loose Balances, LNG Declines

July Bidweek Marked by Discounts as Natural Gas Traders Mull Loose Balances, LNG Declines

Dragged down by loose balances amid weaker export demand, natural gas prices skidded lower in July bidweek trading even as a toasty forecast offered some encouragement for the bulls. NGI’s July Bidweek National Avg. fell 9.5 cents month/month to $1.450/MMBtu. That marks a 53-cent decline from the $1.980 average NGI recorded for July 2019 bidweek,…

July 1, 2020

May Natural Gas Futures Higher After Volatile Session Ahead of Expiration; Cash Mixed

Natural gas futures got hammered early, but came roaring back Monday in another “chaotic” session. The May Nymex contract, which expires Tuesday, plunged to an intraday $1.593 low and then bounced back, settling the day at $1.819, up 7.3 cents from Friday’s close. June picked up 2.1 cents to close at $1.916.

April 28, 2020

Natural Gas Futures Market Weighing ‘Unique, High-Stakes’ Issues as Prices Called Higher

Continued colder-than-normal temperatures in the outlook helped to push a recently volatile natural gas futures market higher in early trading Monday. The May Nymex contract was up 6.1 cents to $1.794/MMBtu at around 8:45 a.m. ET.

April 13, 2020

U.S. Rig Count Plummets as Producers React to Oil’s Collapse

Signaling that producers are coming to grips with a grim new reality for crude markets, the U.S. rig count fell sharply during the week ended Friday (March 20), the latest data from Baker Hughes Co. (BKR) show.

March 20, 2020

4Q2019 Earnings: With Eye on Cost-Cutting, Unit’s Upstream Cuts Drilling Plans for 2020

Tulsa-based Unit Corp. is planning to drill no wells in the upstream segment in 2020, and it has cut capital spending for the contract drilling segment and reduced midstream spend by 57% from 2019, the company said.

March 17, 2020
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