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As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends. But according to more …
Bloomberg News After spiraling downward for months, futures have steadied on weaker production prospects. After spiraling downward for months, the US natural gas market has finally found a floor. Prices for the fuel had their biggest single-day gain in more than 18 months Wednesday after one of the largest domestic producers, Chesapeake Energy Corp., said it was slashing its …
Natural Gas Prices Finally Find a Floor in the U.S. Read More »
Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …
Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages Read More »
Canada’s economy has stagnated, with a “mild to moderate” recession expected this year. Alberta can help Canada through this economic growth crisis by reaping the benefits of a strong commodity market. But for this to happen, the federal and provincial governments must eliminate damaging policies that make Alberta a less attractive place to invest. Every year, …
Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. Already some 4,680 oilfield jobs have been lost since December, according to data from trade group Energy Workforce & Technology …
U.S. Oilfield Job Losses Could Swell as Natural Gas Prices Plunge Read More »
U.S. natural gas futures fell more than 3% on Thursday as investors awaited a weekly storage report and booked profits following a rally in the previous session spurred by Chesapeake Energy’s decision to cut its planned output for 2024. Front-month gas futures fell 5.4 cents, or 3.1% at $1.719 per million British thermal units at …
U.S. Natgas Rally Cools as Investors Await Storage Report Read More »
U.S. natural gas futures soared by about 10% on Wednesday after Chesapeake Energy – soon to be the biggest U.S. gas producer after its merger with Southwestern Energy – cut the amount of gas it plans to produce in 2024 due to the recent plunge in gas prices to a 3-1/2-year low. See Chesapeake press …
U.S. Natgas Prices Soar 10% From 3-1/2-year Low as Chesapeake Cuts Output Read More »
For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or …
Tumbling U.S. Natural Gas Prices Prove Unstoppable, Hurting Producers Read More »
Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for …
Wall Street Is Warming to Big Shale After $250 Billion of Deals Read More »
Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories. Front-month futures for gas delivered at Henry Hub in Louisiana slumped to $1.58 per million British thermal units on Feb. 15, the lowest in …
El Niño Pushes Real U.S. Gas Prices to Multi-Decade Low: Kemp Read More »
