Story of the day
Natural Gas Futures Slip Back Below $2 as Freeport’s Restart Questioned; Cash Prices Rise
Earnings
Enterprise Shakes Off Impact from Weak Permian Natural Gas Prices
The exploration and production sector may be feeling the heat from slumping natural gas prices, but they had little impact on Enterprise Products Partners LP’s Permian Basin operations during the first quarter, executives said Tuesday. Driven by its operations in West Texas, natural gas transportation volumes during 1Q2024 improved from a year ago to 18.6…
April 30, 2024
Natural Gas Prices
Depth of Natural Gas Production Drop Questioned as Prices Fail to Find Momentum
Nobody is questioning the downward direction of natural gas production over the past two months, a trend hastened by soft demand during a mild winter that put prices persistently near four-year lows. Major exploration and production (E&P) companies, including Chesapeake Energy Corp. and EQT Corp., announced curtailments to activity during the first quarter – cutbacks…
April 30, 2024
Natural Gas Prices
Technicals Point to Oversold Natural Gas Futures Ready for Upside
Technical market indicators suggest a bottom could be near for the newly anointed prompt-month June futures contract on the New York Mercantile Exchange (Nymex). June futures settled down 6.3 cents at $1.923/MMBtu on Friday (April 26). On Monday, the contract’s first day in the lead position, losses were reversed as June increased 10.7 cents to…
April 30, 2024
Earnings
Pemex’s Natural Gas Production Slumps as Mature Fields Decline
Mexico’s state oil and gas giant Petróleos Mexicanos, or Pemex, reported a 7.5% year/year drop in natural gas production in the first quarter as the country’s aging offshore oil fields showed weaker output. Natural gas production, including from partners, was 3.836 Bcf/d in the first quarter, down 312 MMcf/d compared to the comparable period in…
April 30, 2024
International
Prices Linked to Natural Gas Hubs Continue to Dominate Global Trade, IGU Says
Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan-Korea Marker and the Title Transfer Facility last year again outpaced purchases linked to oil prices in a trend being driven largely by LNG trade growth, according to the International Gas Union (IGU). Between 2005 and 2023, the share of global gas-on-gas…
April 30, 2024
International
Egypt Again Halts LNG Exports to Meet Domestic Demand This Summer
Egypt has halted all LNG exports beginning in May as lower domestic natural gas production has forced the North African country to divert supply to local power demand during the summer months. Last year was Egypt’s hottest summer on record, with temperatures surpassing 95 F. This summer is forecast to have similar temperatures. Egypt’s Ministry…
April 30, 2024
NGI All News Access
Lower 48 E&P Activity Waning but Renewed Opportunities Seen in Deepwater GOM
The Gulf of Mexico (GOM) for decades was the breadbasket for U.S. natural gas and oil production, but the Lower 48 took over as unconventional drilling uncorked massive reserves. As onshore activity has waned, however, the deepwater is once again beckoning. Enverus Intelligence Research (EIR) director Andy McConn recently shared the firm’s outlook about the…
April 29, 2024
LNG
Freeport Outage Cuts Into TotalEnergies’ First Quarter LNG Sales
TotalEnergies SE said Friday that its LNG sales decreased in the first quarter mainly due to lower demand in Europe and an unplanned outage at the Freeport export terminal on the upper Texas coast. The company has 2.2 million tons (Mt) of annual tolling capacity at Freeport’s Train 3, which was offline most of the…
April 29, 2024
Permian Basin
Chevron’s Permian Operations See Improvements in ‘Frack-to-Pop Cycle Times’
Chevron Corp.’s domestic operations, particularly in the Permian Basin, performed “stronger than we had anticipated” in the first quarter, with improved cycle times and natural gas and oil output, CEO Mike Wirth said Friday. During a conference call to discuss quarterly performance, Wirth explained to analysts how the Permian portfolio improved as the wellhead-to-sales times…
April 29, 2024Recent News
International
Prices Linked to Natural Gas Hubs Continue to Dominate Global Trade, IGU Says
Apr 30, 2024
Natural Gas Prices
Depth of Natural Gas Production Drop Questioned as Prices Fail to Find Momentum
Apr 30, 2024
Infrastructure
Mexico’s CFE Touts Private Sector Natural Gas Partnerships as Pipeline Imports Grow
Apr 29, 2024Daily Gas Price Index
As one of only two price reporting agencies that include ICE trade data to determine natural gas price indexes, NGI delivers robust indexes at a competitive price.
• Daily physical spot natural gas price indexes at 170+ locations
• News and analysis of key market events
• Daily breakdown of physical market natural gas price activity
Markets
Natural Gas Futures Slip Back Below $2 as Freeport’s Restart Questioned; Cash Prices Rise
Natural gas futures gave up early gains on Tuesday, trading down more than 13 cents from the day’s high as doubts about Freeport LNG’s recovery lingered and markets braced for bearish monetary policy news Wednesday. At A Glance: Freeport ramps to 38% capacity Production falls to 96.9 Bcf/d Northeast leads cash gains The June Nymex…
April 30, 2024International
Prices Linked to Natural Gas Hubs Continue to Dominate Global Trade, IGU Says
April 30, 2024Mexico Gas Price Index
Daily news and natural gas pricing information service focused on price transparency in Mexico.
• Experienced insight into Mexican regulatory requirements, process guidelines and governmental oversight
• Regular interviews with Mexico natural gas subject matter experts
• NGI-calculated cost-plus-transport pricing, as well as official IPGN pricing
Earnings
Pemex’s Natural Gas Production Slumps as Mature Fields Decline
Mexico’s state oil and gas giant Petróleos Mexicanos, or Pemex, reported a 7.5% year/year drop in natural gas production in the first quarter as the country’s aging offshore oil fields showed weaker output. Natural gas production, including from partners, was 3.836 Bcf/d in the first quarter, down 312 MMcf/d compared to the comparable period in…
April 30, 2024Markets
Natural Gas Futures Rally Above $2 on LNG Rebound, Supply Slowdown; Cash Jumps
April 29, 2024Infrastructure
Mexico’s CFE Touts Private Sector Natural Gas Partnerships as Pipeline Imports Grow
April 29, 2024Shale Daily
Impactful news and transparent pricing for shale and unconventional plays across the U.S. and Canada.
• Natural gas prices at 20+ North American shale basins and unconventional plays
• Quickly understand major factors affecting on of the world’s largest natural gas supplies
• On-the-ground news coverage of crucial market events impacting supply and demand fundamentals
Markets
Natural Gas Futures Slip Back Below $2 as Freeport’s Restart Questioned; Cash Prices Rise
Natural gas futures gave up early gains on Tuesday, trading down more than 13 cents from the day’s high as doubts about Freeport LNG’s recovery lingered and markets braced for bearish monetary policy news Wednesday. At A Glance: Freeport ramps to 38% capacity Production falls to 96.9 Bcf/d Northeast leads cash gains The June Nymex…
April 30, 2024International