Updated Aug 30, 2024
8/30/24
While advancing projects to sustain exploration and production companies vying for the coming boom in the LNG export market, DT Midstream Inc. (DTM) executives said the firm also would focus on supporting power demand from industrial users to underpin the natural gas market.
Chesapeake Energy Corp. signaled Tuesday that it would continue to curb natural gas output until prices improve under a plan that was announced earlier this year.
Natural gas forwards advanced across portions of the East from June 13-18, bolstered by sweltering forecasts and a new pipeline expanding the reach of Appalachian Basin supply, according to NGI’s Forward Look.
Rising Lower 48 natural gas production, led by a rebound in the East, has undermined price support from sizzling summer heat setting in.
The U.S. Energy Information Administration (EIA) is projecting a Henry Hub natural gas spot price average of $2.50/MMBtu for 2024, up 13% from the average price the agency modeled last month.
Driven by declines in the Appalachian Basin, the U.S. natural gas rig count dropped four units to finish at 99 for the week ended Friday (May 24), according to the latest numbers from Baker Hughes Co. (BKR).
When the long-delayed Mountain Valley Pipeline LLC (MVP) starts up in the coming weeks, the natural gas flowing south into downstream markets is not expected to be anywhere near the pipeline’s full 2 Bcf/d capacity.
Pushing back against concerns raised by project opponents, Mountain Valley Pipeline LLC (MVP) said its handling of a recent failed pressure test demonstrates that safety protocols are working as intended.
Combined natural gas production from seven key Lower 48 plays is expected to ease lower in June, with declines from gas-weighted plays continuing to offset increasing associated output from the Permian Basin, according to updated projections from the U.S. Energy Information Administration (EIA).
Chesapeake Energy Corp. said Wednesday it would continue to curtail natural gas output until demand rebounds, forecasting another 400 MMcf/d of cuts in the second quarter.