Supply/Demand Uncertainty Sends Weekly Natural Gas Spot Prices, Futures Slumping
Weekly natural gas cash prices retreated amid seasonally mild temperatures in key sections of the Lower 48 and strong national production.
Weekly natural gas cash prices retreated amid seasonally mild temperatures in key sections of the Lower 48 and strong national production.
Natural gas futures on Friday floundered for the fourth time in as many sessions, as supplies in storage remained on course to culminate the injection season at historically robust levels in spite of a hot summer.
A 7.6-magnitude earthquake that hit western Japan continued to have little impact on the country’s natural gas demand and Asian natural gas prices on Wednesday.
Natural gas prices worldwide have continued to edge down as lagging winter weather and abundant storage win out over increasing risks in the Middle East and earthquakes in Japan.
A powerful earthquake in the Permian Basin of West Texas – the second in a month – shook the region last Friday, and regulators were inspecting injection well sites for clues.
An oil and natural gas operator-led response plan in West Texas, which targets seismicity from produced water injection wells in the Permian Basin, has been revised following a 5.4 magnitude earthquake last month.
The Railroad Commission of Texas (RRC) is suspending all disposal well permits to inject oil and gas waste into deep strata within a portion of the Permian Basin following a series of earthquakes.
Exploration and production companies were told to halt or reduce wastewater injection activity after a magnitude 4.2 earthquake struck northern Oklahoma on Friday.
Cracked rock layers and pressure pockets riddle Montney Shale gas drilling territory with earthquake hazards in northern British Columbia (BC), according to a report completed for the province’s Oil and Gas Commission (BCOGC).
Encana Corp. has paused a well completion operation in the heart of Oklahoma’s stacked oil and gas formations following two earthquakes that measured 3.2- and 3.9-magnitude.