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(Reuters) – President Joe Biden’s administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands. The new rules follow years of criticism from green and taxpayer groups that federal oil and gas development was not benefiting the public. Many of the …
U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling Read More »
Producers are bringing more wells online, adding fuel to a glutted market. There’s so much natural gas flowing from Texas wells that producers are paying customers to take it off their hands. They can blame oil prices. With crude hovering near a six-month high, the companies extracting it are tapping a stash of wells they drilled but hadn’t …
Oil Rally Is Driving Texas Gas Prices Below Zero Read More »
U.S. natural gas futures edged up about 1% to a five-week high on Wednesday on an increase in feedgas to the Freeport LNG export plant and a drop in output as pipeline maintenance trapped gas in Texas and producers continued to reduce drilling activities after prices collapsed to 3-1/2-year lows earlier this year. Limiting price …
U.S. Natgas Prices Hit 5-Week High on Rising Feedgas to Freeport LNG, Output Drop Read More »
U.S. natural gas futures climbed about 3% on Monday on forecasts for more demand this week than previously expected and a continued drop in output as producers reduce drilling activities after gas prices fell to 3-1/2-year lows in February and March. Gas prices increased despite forecasts for milder weather and lower demand next week than …
U.S. Natgas Prices Climb 3% on Forecasts for More Demand, Less Output Read More »
Brokerage Raymond James says its global industry survey of upstream oil companies shows an uptick of 3% in capex spending in 2024, plateauing after 2023. ** Says global spending in 2024 would mark a fourth consecutive increase, albeit the slowest one – there is, however, a cumulative drop of 33% from the peak level of …
Raymond James Expects Global Oil, Gas Upstream Capex Spending to Rise 3% in 2024 Read More »
The value of natural gas at the Waha Hub in West Texas turned negative for Friday, marking the third time daily prices in the top U.S. shale basin have closed below zero over the past month. Both power and gas prices have traded at negative levels in spot markets in Texas, California and Arizona in …
Texas Natgas Prices Back in Negative Territory on Low Demand, Pipe Maintenance Read More »
Canadian energy company Enbridge’s Texas Eastern Transmission subsidiary received approval on Thursday from U.S. energy regulators to commence service of a natural gas pipeline associated with its Venice extension project in Louisiana. The Venice extension was designed to supply gas to Venture Global LNG’s Plaquemines liquefied natural gas (LNG) export plant in Louisiana, which is …
Enbridge Wins Approval to Commence Service on Louisiana Venice Natgas Pipe Project Read More »
U.S. natural gas futures slid about 2% to a one-week low on Thursday on forecasts for milder weather over the next two weeks than previously expected, a smaller output decline so far this month and ample amounts of gas in storage. The price decline came despite a federal report showing an expected bigger-than-usual storage withdrawal …
U.S. Natgas Prices Slip 2% to 1-Week Low on Milder Forecasts Read More »
U.S. oil production dropped sharply at the start of the year as exceptionally cold weather for ten days in the middle of January caused widespread freeze offs at oil wells. Nationwide crude and condensates output was down by almost 24 million barrels or 0.8 million barrels per day (b/d) in January 2024 compared with December …
U.S. Oil and Gas Output was Severely Hit by Winter Storm: John Kemp Read More »
CALGARY — Persistent drought conditions are poised to challenge natural gas producers even as they aim to ramp up in anticipation of Canada’s first liquefied natural gas export terminal opening, a new report warns. The report by Deloitte Canada identifies potential water shortages in Western Canada as a key risk facing the oil and gas …
Drought Poses Key Risk to Canada’s Natural Gas Producers in 2024 Read More »
