Conventional Energy

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Texas Matterhorn Natgas Pipe Moving Some Gas, Say Permian Resources Executives

Conventional Energy, Latest, Natural Gas, US News / By

(Reuters) – The Matterhorn natural gas pipeline in Texas was moving small amounts of gas from the Permian basin in West Texas toward the Gulf Coast, executives at U.S. energy company Permian Resources said at the Barclays CEO Energy-Power Conference earlier this week. The Matterhorn is the biggest gas pipe under construction that is capable …

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US Crude and Distillates Inventories Fall, Gasoline Stocks Rise, EIA Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. crude stocks and distillate inventories fell while gasoline stocks rose in the week ending August 30, the Energy Information Administration (EIA) said on Thursday. Crude inventories fell by 6.9 million barrels to 418.3 million barrels in the week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 993,000-barrel …

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Williams to Add 4.2-bcfd of US Natgas Projects in 2024-2027, CEO Says at Barclays Conference

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines, US News / By

(Reuters) – U.S. natural gas company Williams Cos is on track to add 12 projects representing about 4.2 billion cubic feet per day (bcfd) of capacity from 2024-2027, company CEO Alan Armstrong said at the Barclays CEO Energy-Power Conference on Wednesday. The additions come after the company placed 17 projects representing about 5.0 bcfd of …

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Coterra to Maintain Production Shut-ins Amid Weak Natural Gas Prices

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(Reuters) – U.S. oil and gas producer Coterra Energy CEO Tom Jorden said on Wednesday the company plans to maintain its natural gas production shut-ins until there is an improvement in prices. Natural gas prices in the United States have stayed below $2 per million British thermal unit for most of the year due to …

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Chesapeake Energy Still Curtailing US Natgas Output, CEO Says

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(Reuters) – U.S. energy company Chesapeake Energy was still curtailing natural gas output, the company’s CEO Nick Dell’Osso said at the Barclays CEO Energy-Power Conference on Wednesday. Low U.S. gas prices so far in 2024 prompted Chesapeake and several other gas suppliers to cut output. “We are curtailing volumes right now,” Dell’Osso said. He noted, …

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API Shows Weekly US Crude, Fuel Stockpiles Fall, Market Sources Say

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

(Reuters) – U.S. crude oil and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures on Wednesday. The API figures showed crude stocks fell by 7.431 million barrels in the week ended Aug. 30, the sources said, speaking on condition of anonymity. Gasoline inventories fell by 336,000 barrels, and distillates …

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Citi Says 2025 Oil Prices Could Average $60/bbl Without Deeper OPEC+ Cuts

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC, US News / By

Sept 4 (Reuters) – If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose …

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Targa Resources Rebuffed Takeover Interest From Larger Rival Williams

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines, US News / By

Targa viewed Williams’s overture as undervaluing company Targa’s market value now $33 billion after shares gain Targa Resources Corp. rebuffed informal takeover interest from larger rival Williams Cos. in recent months, people with knowledge of the matter said, in another signal of sustained appetite for consolidation in the pipeline industry. The Houston-based natural gas pipeline operator viewed the …

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Biden Grants First New LNG Approval Since Freezing Permits

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New Fortress Energy receives five-year license to sell LNG Climate groups blast White House, permit-pause appeal ongoing The Biden administration granted the first liquefied natural gas export license since a federal court overturned a temporary moratorium on issuing permits to ship the fuel. The US Energy Department granted a five-year license Tuesday to Wes Edens’ company New Fortress Energy Inc., …

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