The Henry Hub natural gas spot price averaged $2.56 per million British thermal units (MMBtu) in September, up 34 cents/MMBtu from August, the first monthly price increase since March, the Energy Information Administration reports in the just-released Short-Term Energy Outlook (STEO). EIA/STEO forecasts Henry Hub prices to average $2.43/MMBtu in the fourth quarter of 2019,
Read More...Brent crude oil spot prices will average $59 per barrel in the fourth quarter of 2019, then fall to $57/Bbl by the second quarter of 2020, $5/Bbl lower than forecast one month ago, the Energy Information Administration reported Tuesday in its October Short-Term Energy Outlook (STEO). Despite the recent increase in supply disruptions, EIA expects
Read More...Pennsylvania State Senator Daylin Leach, a Philadelphia Democrat, is proposing a constitutional amendment to ban fracking throughout the commonwealth after a recent visit to Washington County, Pa., according to KDKA 2 CBS Pittsburgh. While in Washington County, Leach toured fracking sites and met with people who live near them. Following his visit, Leach, cited cases
Read More...The U.S. Supreme Court has agreed to hear Dominion Energy’s Inc.’s case to earn a key permit that would let the company’s proposed Atlantic Coast Pipeline cross under the Appalachian Trail, according to Bloomberg. The Supreme Court has agreed to rule on this permit, following a federal appeals court’s decision to throw out the permit,
Read More...Enterprise Products Partners has announced it has long-term agreements that support additional expansion of the Midland to Echo crude oil pipeline system. The midstreaming giant will build a pipeline that connects the partnership’s 6-million-barrel (Mmbbl) Midland, Texas, storage facility to its Echo Terminal through its Eagle Ford system in South Texas. This line will have
Read More...The number of rigs working onshore in the Lower 48 U.S. states last week maintained its downward stride, falling for the 14th straight week, and the 24th of the last 26 weeks, Kallanish Energy calculates. For the week ended Oct. 4, 823 rigs were working, down six rigs from the previous week, according to Baker
Read More...U.S. coal giant Murray Energy Corp., led by the outspoken industry promoter Robert Murray, is nearing default, Kallanish Energy reports. Murray, which bills itself as the U.S.’s largest privately-held coal company, failed to make multiple payments to lenders last week, the Ohio-based company said, in a statement. Creditors have agreed not to take legal action until
Read More...Has the technology that drove the U.S. shale boom finally peaked? One thing is clear, oil production is leveling off as innovation plateaus, according to a recent article by The Wall Street Journal. U.S. oil production increased by less than 1% during the first six months of 2019, according to the Energy Department. Over the same
Read More...BP’s board of directors announced today CEO Bob Dudley will retire on March 31, 2020 and will be succeeded by Bernard Looney – who currently heads BP’s Upstream, Kallanish Energy reports. Dudley decided to step down as group chief executive and from the BP Board following delivery of the company’s 2019 full year results on
Read More...Pennsylvania Gov. Tom Wolf’s administration is working to bring the state into a regional consortium of states that sets a price and caps on greenhouse gas emissions from power plants, part of the Democrat’s agenda to fight climate change, Kallanish Energy reports. Wolf made a formal announcement Thursday that he’s ordering a start to the
Read More...U.S. exports of crude oil rose to average 2.9 million barrels per day (Mmbpd) in the first half of 2019, an increase of 966,000 b/d from the first half of 2018, the Energy Information Administration reports. U.S. crude oil exports also set a record-high monthly average in June, at 3.2 Mmbpd, Kallanish Energy learns. Despite
Read More...The United States Geological Survey estimates the Marcellus Shale and Point Pleasant-Utica Shale formations of the Appalachian Basin contain around 214 trillion cubic feet of undiscovered, technically recoverable continuous resources of natural gas. “Watching our estimates for the Marcellus rise from 2 trillion to 84 trillion to 97 trillion in under 20 years demonstrates the effects
Read More...NextEra Energy Partners has agreed to buy Meade Pipeline Co. in a deal valued at about $1.37 billion, according to Bloomberg. Meade owns a 39.2% interest in the Central Penn Line, a 185-mile pipeline that connects the Marcellus Shale in Pennsylvania to the mid-Atlantic and southeastern U.S. The line has the capacity to deliver 1.7
Read More...Over the last decade, West Virginia has become the seventh-largest natural gas producer in the United States, according to Rigzone. Natural gas production in West Virginia has reached a record every year for the last 10 years, reaching 1.8 Tcf in 2018. The state now accounts for 5-6% of total U.S. output, with a foothold
Read More...During the second quarter of 2019, natural gas and oil production from Ohio’s horizontal wells saw increases, according to data released by the Ohio Department of Natural Resources. Horizontal natural gas wells produced over 614 billion cubic feet from the beginning of March through the end of June — an increase of .78% from the first
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