Henry Hub natural gas prices may average under $2/MMBtu next year as a result of booming production, swiftly growing stockpiles and only seasonal demand from exports, according to IHS Markit’s Samuel Andrus, executive director of North American natural gas.
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Heat on the Way, But Natural Gas Futures Stuck in Neutral
Near-term forecasts calling for a mix of heating and cooling demand across the U.S. Lower 48 coincided with a mix of spot price trends Friday; the NGI Spot Gas U.S. National Avg. fell 9.5 cents to $2.065/MMBtu.
Cenagas Director Says Preference Must Be Given to State-Owned Energy Firms — Bonus Coverage
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FERC Releases EA for Buckeye XPress Natural Gas Project
An environmental assessment (EA) was released by FERC staff Monday for proposed Columbia Gas Transmission LLC (TCO) Buckeye XPress Project in Ohio and West Virginia, which would add another 275 MMcf/d of natural gas capacity to the interstate pipeline system.
Nabors’ U.S. Drilling Pacing ‘Exceptionally Well’ on Improved Pricing, Higher Rig Count
Improved pricing on a higher rig count in the Lower 48, along with customers clamoring for high-specification rigs, helped improve U.S. drilling results during the first quarter for Nabors Industries Ltd.
Mexico Strategy Said ‘Inadequate’ to Reverse Oil, Gas Output Decline
The depletion of Mexico’s producing oilfields will likely outpace new production brought online from 2019-2024 unless the government shifts course, according to analysts at GlobalData.
Growth of Natural Gas, Petroleum Exports to Make U.S. Net Exporter Next Year, Says EIA
After more than 60 years as a net energy importer, the United States is on track to become a net energy exporter next year, thanks in large part to continued growth in natural gas and petroleum exports, according to a series of long-term projections released Thursday by the Energy Information Administration (EIA).
ConocoPhillips Targets Lower 48 in 2019 Capex, with Tilt to Permian, Eagle Ford, Austin Chalk
ConocoPhillips on Monday announced a broad $6.1 billion capital spending plan for 2019, with most of the funds targeting Lower 48 prospects, including the Permian Basin, Eagle Ford Shale and the emerging Louisiana Austin Chalk.
Natural Gas Futures Reverse as Forecasts Seen Milder, Balance Looser
Milder forecasts and the prospect of larger storage injections in the coming weeks helped sink natural gas futures ahead of the October contract’s expiration Wednesday, as a sustained rally going back to last week found a top — at least in the near-term. Spot prices were mixed as a few Appalachian points rebounded following recent declines; the NGI National Spot Gas Average finished flat at $2.74/MMBtu.
Powerhouse LNG Buyers Jera, EDF Combining Trading Activities
Two of the leading natural gas buyers in the world, EDF Trading Ltd. (EDFT) and Jera Co. Inc., on Tuesday agreed to combine their worldwide trading activities to optimize liquefied natural gas (LNG) marketing.