Natural Gas – Page 13 – Oil & Gas 360

Permian Resources announces divestiture of Midstream gathering systems

December 10, 2024

(Oil & Gas 360) – MIDLAND, Texas – Permian Resources Corporation (NYSE: PR) (“Permian Resources” or the “Company”) today announced it has entered into a definitive agreement to sell its natural gas and oil gathering systems primarily located in Reeves County, Texas to Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) for a total cash consideration of $180 million, subject to customary post-closing adjustments.

Low expectations continue to dominate but oil inventory is low- oil and gas 360

Energy Market Assessment: Low expectations continue to dominate but oil inventory is low

December 10, 2024

(Oil & Gas 360) – Oil & Natural Gas Prices Low Highlight That Low Expectations Continue To Dominate But Oil Inventory Is Low And The Climate Is Changing. Technical analysis dominating today’s markets having analysis much thinner along with uncertainty high helped record-high U.S. petroleum product exports setting higher record highs be ignored/unknown. While reports of problems Over There are plentiful,

BP looks to sell a minority stake in its U.S. natural gas pipelines

December 6, 2024

(Oil Price) – BP is looking to sell up to 49% of its U.S. natural gas pipeline network in a deal that could fetch up to $3 billion, Reuters reported on Friday, citing anonymous sources with knowledge of the plans. The potential sale would be part of BP’s efforts to reduce its net debt, which has recently increased, according to some of Reuters’s

Petrobras and Ecopetrol uncover historic gas find in Colombia

December 5, 2024

(Oil Price) – Brazilian oil giant Petrobras, in partnership with Colombia’s state-run Ecopetrol, has confirmed the largest natural gas discovery in Colombia’s history. Drilling results from the Sirius-2 well, located in the Guajira Offshore Basin, have revealed over 6 trillion cubic feet (Tcf) of gas in place—enough to potentially double the country’s existing reserves. Petrobras holds a 44.44% stake in the

CNX announces strategic bolt-on acquisition

December 5, 2024

(Oil & Gas 360) – PITTSBURGH, Dec. 5, 2024 /PRNewswire/ — CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced today it has entered into a definitive agreement to acquire the natural gas upstream and associated midstream business of Apex Energy II, LLC (“Apex”), a portfolio company of funds managed by Carnelian Energy Capital Management, L.P. (“Carnelian”), in the Appalachian Basin

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 30 Bcf

December 5, 2024

Natural Gas Inventories as of November 29, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 30 Bcf as of November 29, 2024. Working gas in storage was 3,937 Bcf as of Friday, November 29, 2024, according to EIA estimates. This represents a net decrease of 30 Bcf from the previous week. Stocks were

Infrastructure trends power our bullish oil & natural gas outlook

December 3, 2024

(Oil & Gas 360) – Infrastructure Trends Power Our Bullish Oil & Natural Gas Outlook Because Expectations Are Extra Low But Cold Air Definitely Exists. While Summer 2024 was warmer than normal, cool air existing dropped the Henry Hub spot price from $2.80 down to $1.80. Winter 2023/24 delightfully mild greatly minimizing natural gas demand resulted in a warmer-than-normal April (Figure

U.S. enters winter with highest natural gas stocks in eight years

December 2, 2024

(Oil Price) – U.S. natural gas inventories are higher than average for this time of the year as America has entered the proper winter heating season with stocks at their highest level since 2016, the Energy Information Administration (EIA) said on Monday. Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet

Energy Market Assessment: The fast jump in natural gas prices determining who gets it

November 27, 2024

(Oil & Gas 360) – The Fast Jump In Natural Gas Prices Determining Who Gets It In A Market Viewed As Well Supplied Highlights Supply/Demand, Consensus-Beating Tight. While natural gas inventory declined 3 Bcf last week, 3,969 Bcf, 3rd highest in 31 years and only 77 below the record high is helping pretty much all be bearish, believing supply is plentiful. Yesterday

US natural gas drillers to lift 2025 output, reversing year of cuts

November 21, 2024

(Investing) – U.S. natural gas producers will boost output in 2025 following a series of production cuts this year, as rising demand from liquefied natural gas export plants is expected to increase prices that had fallen to multi-decade lows. U.S. production is on track to decline in 2024 for the first time since 2020, when the COVID pandemic reduced demand, according to the

Weekly Gas Storage: Inventories decrease by 3 Bcf

November 21, 2024

Natural Gas Inventories as of November 15, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 3 Bcf as of November 15, 2024. Working gas in storage was 3,969 Bcf as of Friday, November 15, 2024, according to EIA estimates. This represents a net decrease of 3 Bcf from the previous week. Stocks were

Energy Market Assessment: Consensus, natural gas and oil bearish, deep data showing bullish

November 19, 2024

(Oil and Gas 360) – While Temperatures Delightfully Mild Keep The Consensus Natural Gas And Oil Bearish, Deep Data Continues Showing Bullish, Supply/Demand Trends. Our prediction, that many will soon be caught oil and natural gas short is based on our decades of analysis of The Climate and constant focus on the economy and markets. Last week last year natural gas produced

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