Morgan Evans

Nominees to fill three FERC vacancies said they would put energy affordability and reliability above other concerns if selected for the positions. They also said a buildout of natural gas infrastructure may be needed to support the growing energy needs of the United States. 

Natural gas utilities are growing renewable natural gas (RNG) programs to meet sustainability goals and customer interest. At the other end of the supply chain, producers are working to complete projects and boost supplies of the low-carbon fuel. 

SilverBow Resources Inc.’s board plans to “carefully review and consider” a proposal from activist investor Kimmeridge Energy Management LLC to merge its natural gas production subsidiary in a tie-up that could become the largest South Texas exploration and production company.

TC Energy Corp. has inked a $1.14 billion agreement to sell the Portland Natural Gas Transmission System (PNGTS) to BlackRock Inc. and Morgan Stanley Infrastructure Partners as it pares debt and streamlines its North American pipeline business. 

SilverBow Resources Inc. management said the Eagle Ford Shale operator is pulling back natural gas activity and investments by almost 15% in response to weak prices, but plans to ramp up activity around 2025 for Gulf Coast demand. 

Utilities in the Southwest have seen business, population and technology underpinning investments in natural gas-fired generation and infrastructure, and in Texas, new legislation may be supporting plans for a build-out. 

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said. 

Natural gas-fired generation is forecast for roughly a 100 MW net increase this year as overall electric power plant retirements decrease to 5.2 GW, the lowest level in more than a decade, according to the U.S. Energy Information Administration (EIA). 

Dallas-based independent Matador Resources Co., which works in the Permian Basin, Haynesville and Eagle Ford shales, reported record natural gas production for 2023, and it is not planning to reduce output this year, even with low prices.

U.S. utilities are reporting growth in residential demand, as well as commercial and industrial (C&I) consumption, underpinning investments in more natural gas-fired generation and system reliability.