Articles tagged production

Stout storage levels at the start of the weak spring demand season kept baseload natural gas prices for April under pressure in bidweek trading Tuesday, according to NGI’s Bidweek Alert (BWA).

Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI Senior Markets Editor Kevin Dobbs interviews Paragon Global Markets LLC’s Steve Blair, managing director of institutional energy sales.

Baseload natural gas prices were trending lower for April delivery as excess end-of-winter inventory levels kept bidders hesitant on the first day of bidweek trading Friday (March 22), according to NGI’s Bidweek Alert (BWA).

North American natural gas prices dropped dramatically in 2023 as producers maintained robust production levels in no small part because of drilling efficiencies. At the same time, midstreamers touted the need for more gas egress capacity while the Biden administration’s LNG authorization pause threw a wrench in the outlook for some export capacity projects. Read what NGI analysts learned during 4Q2023 earnings season and how they view supply and demand trends moving forward.

The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday.

Natural gas futures rebounded on Monday, bolstered by lower production readings and trader positioning ahead of the front-month contract’s expiration.

Appalachian Basin pure play Range Resources Corp. is targeting flat production growth in 2024 with a focus on natural gas liquids (NGL) to offset weak natural gas pricing, management said Thursday.

For the first time in nine sessions, natural gas futures on Friday forged ahead as discount buying finally overtook the mild weather forecasts and elevated supplies that had sapped the will of price bulls most of this month.

Natural gas futures extended losses into a fifth consecutive session Monday as fundamental support continued to evade, leaving little for the market to latch onto to drive March Nymex natural gas out of the basement and off more than three-year lows.

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale.