Oil and Gas 360 PITTSBURGH, March 4, 2024 /PRNewswire/ — EQT Corporation (NYSE: EQT) (“EQT” or the “Company”) today announced it made the strategic decision to curtail approximately 1 Bcf per day of gross production beginning in late February in response to the current low natural gas price environment resulting from warm winter weather and consequent elevated storage inventories. The Company expects
Oil Price The U.S. could sell off its 1-million-barrel Northeast Gasoline Supply Reserve in the fiscal year of 2024, a funding bill up for discussion at U.S. Congress says. Under the draft text of the bill, “the Secretary of Energy shall draw down and sell one million barrels of refined petroleum product from the Strategic Petroleum Reserve during fiscal year 2024.”
Nasdaq HOUSTON – Low U.S. natural gas prices will hurt Tellurian Inc’s TELL.A ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its liquefied natural gas export (LNG) project, analysts said. Tellurian has spent nearly seven years advancing its still incomplete Driftwood LNG export plant. This month it proposed to sell a gas producing business
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 3 over last week, resulting in a total count of 629 rigs. Canada had no change over last week, resulting in a total Canadian count of 231 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford, the Marcellus,
Natural Gas Inventories as of February 23, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 96 Bcf as of February 23, 2024. Working gas in storage was 2,374 Bcf as of Friday, February 23, 2024, according to EIA estimates. This represents a net decrease of 96 Bcf from the previous week. Stocks were
Oil Price U.S. natural gas prices gained over 3% on Wednesday, recovering from a four-year low earlier in the week as European demand popped and unseasonably warm temperatures in the southern United States boosted cooling demand to make up for lackluster heating demand. So far this year, natural gas has shed over 30%. At 12:49 p.m. ET on Wednesday, U.S. Henry Hub
Oil Price Woodside Energy expects demand for liquefied natural gas to increase by 50% over the next ten years driven by Asia, Bloomberg has reported, citing chief executive Meg O’Neill. “We’re seeing signs of that demand growth in emerging Asia,” O’Neill told the publication. “There’ll be points in time where we’ll see a fair amount of new supply arriving, but the
Oil Price Faster-than-expected land inventory drawdowns due to seaborne trade disruptions from the Red Sea crisis have prompted Goldman Sachs to revise up its forecast for summer peak Brent Crude prices to $87 per barrel, up by $2 from earlier expectations. “OECD commercial stocks on land have drawn somewhat faster than expected as the redirection of flows away from the
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 5 over last week, resulting in a total count of 626 rigs. Canada had a decrease of 3 over last week, resulting in a total Canadian count of 231 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash,
Natural Gas Inventories as of February 16, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 60 Bcf as of February 16, 2024. Working gas in storage was 2,470 Bcf as of Friday, February 16, 2024, according to EIA estimates. This represents a net decrease of 60 Bcf from the previous week. Stocks were
BOE Report Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country’s pipeline capacity in just a few years. TMX will ship an extra 590,000 barrels per day (bpd) of crude, trebling existing
Nasdaq BRIDGEPORT, Texas – For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or selling
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