Updated Aug 22, 2024
8/22/24
Demand between now and 2015 will prop up natural gas prices, even with a backlog of drilled wells awaiting connection, and from 2016 to 2018 a "dramatic structural increase" in demand could outpace supply additions and send gas prices to as high as $6.00/MMBtu, BNP Paribas' Teri Viswanath, director of commodity strategy, said last Friday.
Onshore drilling efficiencies and multi-pad drilling has begun to tell the tale in North America's onshore unconventionals, with super independents ConocoPhillips, Anadarko Petroleum Corp. and Apache Corp. all reporting stronger-than-ever production.
Resolution of proposed penalties of up to $2.25 billion for San Francisco-based Pacific Gas and Electric Co. (PG&E) may not come this year after a state regulatory administrative law judge (ALJ) asked for additional data on how any eventual penalties might affect finances. In addition, the specter of a criminal case has emerged.
In a litmus test on the costs to utility consumers for natural gas lost through leaky distribution pipeline systems and other sources, Massachusetts consumers paid as much as $1.5 billion more in the last decade just for the leaks, a congressional study has found.
ew pipeline and compressor infrastructure has helped boost dry gas production in West Virginia and neighboring southern Pennsylvania counties since early 2012 -- in the heart of the Marcellus Shale -- with more growth still expected to come in the region despite strategic shifts by oil and gas companies to more liquids-rich targets, the U.S. Energy Information Administration (EIA) said.
TransCanada Corp. moved Thursday to calm a hornets' nest of protest among its natural gas customers in Ontario, Quebec and the northeastern United States by making a formal promise to maintain service continuity.
This year's unseasonably cool summer in parts of the eastern United States and a natural gas supply glut brought on by the country's shale production boom are continuing to put downward pressure on natural gas prices, as evidenced by NGI's August Bidweek Survey. The national spot gas average for the month dropped 21 cents from July to average $3.45/MMBtu.
With screen prices at a three-month low it's no surprise that July bidweek came in a bit soft. NGI's National Spot Gas Average for July bidweek came in at $3.66, a 48-cent decline from June 2013, but 94 cents higher than the July 2012 bidweek average.
NGI Daily Price Index reported last week that Potomac ElectricPower Co. hoped to sell nearly all of its power generationfacilities --- with an estimated capacity of at about 6,055 MW ---for an "upside price" of about $3 million. Pepco later correctedthe figure to $3 billion. Pepco further said it hoped to narrow thefield of serious bidders to between six and a dozen by March.
In NGI's story, "El Paso Pulls Off FTC-Required Sellathon" inthe previous issue (see NGI, Jan. 10), it is erroneously statedthat CMS Energy Corp. purchased both the Sea Robin pipeline and ashare of the Destin Pipeline from El Paso Energy. CMS onlypurchased Sea Robin whereas the Destin Pipeline was sold to anundisclosed party. NGI regrets the error.