All Discussions Tagged 'NG' - GoHaynesvilleShale.com
2024-03-28T10:06:43Z
https://gohaynesvilleshale.com/forum/topic/listForTag?tag=NG&feed=yes&xn_auth=no
Amid Lackluster Production and ‘Robust, Resilient’ Demand, $13 Natural Gas Said Possible
tag:gohaynesvilleshale.com,2022-08-18:2117179:Topic:4032977
2022-08-18T23:37:05.866Z
Jesse Joyner
https://gohaynesvilleshale.com/profile/JesseJoyner
<p><span style="font-size: 14pt;"><strong>Like I mentioned months ago, this seems to be a new golden age for NG. Here's an Aug. 17th article from naturalgasintel.com. Of course, the odds are against $13 gas, but even $10 gas will have a lot of royalty owners dancing to the bank. Yes, indeed. Luck is shining on the old farming families who held onto their land in the HA.…</strong></span></p>
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<p><span style="font-size: 14pt;"><strong>Like I mentioned months ago, this seems to be a new golden age for NG. Here's an Aug. 17th article from naturalgasintel.com. Of course, the odds are against $13 gas, but even $10 gas will have a lot of royalty owners dancing to the bank. Yes, indeed. Luck is shining on the old farming families who held onto their land in the HA.</strong></span></p>
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<p class="c-section-category"><a href="https://www.naturalgasintel.com/news/daily-gas-price-index/">DAILY GPI</a></p>
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<h1 class="h3"><span style="font-size: 14pt;"><strong>Amid Lackluster Production and ‘Robust, Resilient’ Demand, $13 Natural Gas Said Possible</strong></span></h1>
<div class="c-story-author mb-4 flex-wrap"><span style="font-size: 14pt;"><strong><a href="https://www.naturalgasintel.com/author/kevindobbs/"><img class="c-story-author__image" width="35" height="35" src="https://www.naturalgasintel.com/wp-content/uploads/2020/07/kevin-dobbs-w-gradient-120x140-1-96x96.png"/></a></strong></span><div class="c-story-author__meta"><div><span style="font-size: 14pt;"><strong>BY <a class="c-story-author__name" href="https://www.naturalgasintel.com/author/kevindobbs/"><span class="c-story-author__name">KEVIN DOBBS</span></a></strong></span></div>
<span style="font-size: 14pt;"><strong><span class="c-date">August 17, 2022</span></strong></span></div>
<div class="w-full mb-4 sm:mb-0 sm:flex-1"></div>
<div class="c-share text-sm flex items-center space-x-3"><span style="font-size: 14pt;"><strong><span class="w-full sm:w-auto">A con</span>fluence of entrenched domestic demand, mounting calls for U.S. exports of LNG and modest production growth – all factors forecast to endure – propelled natural gas futures above $9.00/MMBtu in August and could keep upward pressure on prices for years.</strong></span></div>
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<div class="c-content-body c-rte article-body"><div class="text-center"><span style="font-size: 14pt;"><strong><img width="835" height="512" src="https://www.naturalgasintel.com/wp-content/uploads/2022/08/HenryHub0817.png" class="attachment-large size-large wp-post-image" alt=""/></strong></span></div>
<p><span style="font-size: 14pt;"><strong>Such was the assessment of analysts who spoke Tuesday at the <a href="https://www.naturalgasintel.com/liberty-energys-wright-sees-long-oil-natural-gas-future-as-energy-transition-is-not-happening/">LDC Gas Forum Rockies & West</a> in Denver. Prices have more than doubled this year and recently approached the <a href="https://www.naturalgasintel.com/perfect-storm-leading-to-record-price-spikes-in-u-s-southeast-listen-now-to-ngis-hub-flow-2/">highest levels since 2008</a>.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>ConocoPhillips’ Matthew Henderson, senior market analyst, said natural gas prices would inevitably ebb and flow with seasons and in response to major news developments. On the whole, though, the bull case is firmly intact given elevated cooling demand in an era of persistently hot summers, including most recently the third hottest July on record last month.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>At the same time, many utilities made long-term commitments to natural gas as a principal energy source, minimizing their alternatives. Now, as the United States marches on with coal plant retirements and an emphasis on cleaner energy, it is increasingly difficult to switch from gas to coal when prices for the former spike, as was the practice in the past, Henderson said. This effectively cements reliance on natural gas and adds a fixed demand element to the market.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>What’s more, he said, large-cap public exploration and production (E&P) companies are under pressure from Wall Street to pay down debt and return excess capital to investors – rather than ramp up output to capitalize on high prices. </strong></span></p>
<p><span style="font-size: 14pt;"><strong>As such, production growth is modest this year and likely to remain so in coming years, according to Henderson, making it difficult for supply to keep pace with demand.</strong></span></p>
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<p><span style="font-size: 14pt;"><strong>“The market is going to have a harder time balancing in the future,” he said.</strong></span></p>
<h3><span style="font-size: 14pt;"><strong>Cautious Public E&Ps</strong></span></h3>
<p><span style="font-size: 14pt;"><strong>E&Ps are increasing activity in the <a href="https://www.naturalgasintel.com/haynesville-leading-domestic-natural-gas-production-higher-in-latest-eia-projections/">Permian Basin and in the Haynesville Shale</a>, though at measured paces, Henderson said. Production in the Northeast, concentrated in the Marcellus and Utica shales, meanwhile, has tapered off to maintenance levels, he said, largely because of pipeline constraints.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>In aggregate, production is only ticking up at a time when more U.S. supplies are needed to meet both domestic demand and a growing global liquefied natural gas market.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>[<a rel="noreferrer noopener" href="https://www.naturalgasintel.com/data-snapshot/daily-gpi/SLAHH/" target="_blank"><span class="has-inline-color has-vivid-cyan-blue-color"><em>Want today’s Henry Hub, Houston Ship Channel and Chicago Citygate prices?</em> Check out NGI’s daily natural gas price snapshot now.</span></a>]</strong></span></p>
<p><span style="font-size: 14pt;"><strong>Energy Analytics consultant Laird Dyer agreed. He noted that demand for LNG, already strong heading into 2022 amid weak supply levels in Europe and Asia, was amplified this year following Russia’s invasion of Ukraine. European countries <a href="https://www.naturalgasintel.com/germany-inks-initial-lng-supply-agreement-for-two-terminals/">ratcheted up their calls for LNG</a> as they moved to <a href="https://www.naturalgasintel.com/european-natural-gas-crisis-deepens-as-rhine-water-levels-fall-lng-recap/">wean themselves off Russian gas</a> in protest of the war.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>“And that’s not a good thing if you aren’t adding production,” Dyer said. All indications during second quarter earnings season, he added, suggest big E&Ps will remain disciplined through this year and likely next. </strong></span></p>
<p><span style="font-size: 14pt;"><strong>“Rig deployments are going to stay low” relative to past eras of high prices and “supply is at risk,” he said.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>Dyer expects prompt-month natural gas futures to average $8 next year, essentially extending the lofty prices reached this year. That outlook is based on average weather during the coming winter.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>If conditions prove particularly cold over prolonged periods, or if there are weather-induced shocks to production such as late-season hurricanes or widespread winter freeze-offs, supply/demand imbalance could worsen substantially. Prices, Dyer said, may climb to $13 or higher.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>“We could see some pretty horrific numbers,” he told the audience in Denver.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>In fact, he added, had a fire not forced the Freeport LNG export facility offline in June, preserving about 2 Bcf/d for domestic consumption this summer, prices could have surged into the double-digits by now.</strong></span></p>
<h3><span style="font-size: 14pt;"><strong>Growing Global Market</strong></span></h3>
<p><span style="font-size: 14pt;"><strong>Freeport is expected to reopen this fall and substantially more LNG capacity is expected to come online in 2024 to serve the global market. Still, Dyer said it was not clear that production could keep up.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>Demand is “robust, resilient and price inelastic,” Dyer said, while production is relatively lackluster.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>Sapphire Gas Solutions’ Joe Zimowski, director of commercial strategy, said years-long limits on new infrastructure also complicates the process of meeting demand. Even when gas is available, companies often must get creative in delivering it. Sapphire trucks LNG and renewable natural gas to Lower 48 areas without adequate pipeline infrastructure.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>Demand for Sapphire’s services is surging. “We’re just seeing demand continue and continue to increase,” Zimowski said at the forum in Denver.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>While Europe is fueling the LNG frenzy for the super-chilled fuel now, demand long term likely will be driven by Asian countries such as China, India and South Korea. Those countries are beginning to move away from coal, said Andrew Browning, president of the Western States and Tribal Nations Natural Gas Initiative. The group advocates for more LNG infrastructure.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>Participants at the conference also emphasized that LNG demand from Argentina, Brazil and Chile is elevated, as is <a href="https://www.naturalgasintel.com/bulls-at-it-again-as-north-american-natural-gas-futures-steam-ahead-mexico-spotlight/">Mexican demand for U.S. gas delivered via pipeline</a>.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>ConocoPhillips’ Henderson stopped short of price predictions. However, he said mounting global energy needs likely would keep natural gas highly relevant for decades, even if wind, solar and other renewable fuels grow in prominence.</strong></span></p>
<p><span style="font-size: 14pt;"><strong>“In my opinion,” he said, “we’re going to need just about everything to meet growing energy demand.”</strong></span></p>
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<p class="c-article-copyright"><span style="font-size: 14pt;"><strong>© 2022 Natural Gas Intelligence. All rights reserved.</strong></span></p>
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When Will Freeport LNG Plant Come Back Online
tag:gohaynesvilleshale.com,2022-06-30:2117179:Topic:4028063
2022-06-30T18:22:34.474Z
Jesse Joyner
https://gohaynesvilleshale.com/profile/JesseJoyner
<p><span style="font-size: 14pt;"><strong><font size="4">Does an insider pro want to prognosticate a realistic ETA for the Freeport LNG plant to be approved to come back online? When one checks the news feeds, there seems to be a regulator issue in regards to the plant's future safety per the June 8th explosion. Also, initially there was talk of the plant coming back online in 3 weeks. Now there's a bit of newsprint that mentions a possible two-month regulatory…</font></strong></span></p>
<p><span style="font-size: 14pt;"><strong><font size="4">Does an insider pro want to prognosticate a realistic ETA for the Freeport LNG plant to be approved to come back online? When one checks the news feeds, there seems to be a regulator issue in regards to the plant's future safety per the June 8th explosion. Also, initially there was talk of the plant coming back online in 3 weeks. Now there's a bit of newsprint that mentions a possible two-month regulatory delay. </font></strong></span></p>
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<p><span style="font-size: 14pt;"><strong>Note: Today's NG future's pricing crater is being tied to the curtailment of LNG export demand -- partly due to this explosion. </strong></span></p>
Pop the champagne corks
tag:gohaynesvilleshale.com,2022-05-03:2117179:Topic:4021204
2022-05-03T15:19:23.138Z
Jesse Joyner
https://gohaynesvilleshale.com/profile/JesseJoyner
<p></p>
<p><font size="4">Are your neighbors giddy? Do your family members walk around with smiles on their faces? Is someone talking about buying a new pickup truck, e.g., the Ford Lightning. </font></p>
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<p><font size="4">Maybe they know something you don't know, huh? Maybe they're watching the NG futures market.</font></p>
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<p><font size="4">Here's the Henry Hub Natural Gas Futures Quotes via the CME Group.</font></p>
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<p><font size="4">Check out what your mailbox money…</font></p>
<p></p>
<p><font size="4">Are your neighbors giddy? Do your family members walk around with smiles on their faces? Is someone talking about buying a new pickup truck, e.g., the Ford Lightning. </font></p>
<p></p>
<p><font size="4">Maybe they know something you don't know, huh? Maybe they're watching the NG futures market.</font></p>
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<p><font size="4">Here's the Henry Hub Natural Gas Futures Quotes via the CME Group.</font></p>
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<p><font size="4">Check out what your mailbox money might be in the coming months. I'd call it an $8 smile inducer. </font></p>
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<p><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.html" target="_blank" rel="noopener"><font size="4">CME Group Henry Hub NG Futures Quotes</font></a></p>
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<table>
<tbody><tr class="table-row-animate"><td class=""><div class="table-cell month-code"><span><b>JUN 2022</b><br/>NGM2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-M2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.045</div>
</td>
<td><div class="table-cell positive">+0.570 (+7.63%)</div>
</td>
<td><div class="table-cell">7.475</div>
</td>
<td><div class="table-cell">7.540</div>
</td>
<td><div class="table-cell">8.169</div>
</td>
<td><div class="table-cell">7.539</div>
</td>
<td><div class="table-cell">67,953</div>
</td>
<td><div class="table-cell"><span>09:46:37 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGN2" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGN2"></a></div>
<span><b>JUL 2022</b><br/>NGN2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-N2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.131</div>
</td>
<td><div class="table-cell positive">+0.565 (+7.47%)</div>
</td>
<td><div class="table-cell">7.566</div>
</td>
<td><div class="table-cell">7.656</div>
</td>
<td><div class="table-cell">8.250</div>
</td>
<td><div class="table-cell">7.643</div>
</td>
<td><div class="table-cell">25,759</div>
</td>
<td><div class="table-cell"><span>09:46:37 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGQ2" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGQ2"></a></div>
<span><b>AUG 2022</b><br/>NGQ2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-Q2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.128</div>
</td>
<td><div class="table-cell positive">+0.562 (+7.43%)</div>
</td>
<td><div class="table-cell">7.566</div>
</td>
<td><div class="table-cell">7.656</div>
</td>
<td><div class="table-cell">8.242</div>
</td>
<td><div class="table-cell">7.656</div>
</td>
<td><div class="table-cell">7,274</div>
</td>
<td><div class="table-cell"><span>09:45:42 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGU2" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGU2"></a></div>
<span><b>SEP 2022</b><br/>NGU2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-U2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.058</div>
</td>
<td><div class="table-cell positive">+0.551 (+7.34%)</div>
</td>
<td><div class="table-cell">7.507</div>
</td>
<td><div class="table-cell">7.572</div>
</td>
<td><div class="table-cell">8.176</div>
</td>
<td><div class="table-cell">7.572</div>
</td>
<td><div class="table-cell">5,244</div>
</td>
<td><div class="table-cell"><span>09:46:29 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGV2" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGV2"></a></div>
<span><b>OCT 2022</b><br/>NGV2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-V2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.055</div>
</td>
<td><div class="table-cell positive">+0.549 (+7.31%)</div>
</td>
<td><div class="table-cell">7.506</div>
</td>
<td><div class="table-cell">7.590</div>
</td>
<td><div class="table-cell">8.172</div>
</td>
<td><div class="table-cell">7.583</div>
</td>
<td><div class="table-cell">13,248</div>
</td>
<td><div class="table-cell"><span>09:46:29 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGX2" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGX2"></a></div>
<span><b>NOV 2022</b><br/>NGX2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-X2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.110</div>
</td>
<td><div class="table-cell positive">+0.542 (+7.16%)</div>
</td>
<td><div class="table-cell">7.568</div>
</td>
<td><div class="table-cell">7.731</div>
</td>
<td><div class="table-cell">8.227</div>
</td>
<td><div class="table-cell">7.709</div>
</td>
<td><div class="table-cell">3,697</div>
</td>
<td><div class="table-cell"><span>09:46:29 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGZ2" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGZ2"></a></div>
<span><b>DEC 2022</b><br/>NGZ2</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-Z2" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.250</div>
</td>
<td><div class="table-cell positive">+0.534 (+6.92%)</div>
</td>
<td><div class="table-cell">7.716</div>
</td>
<td><div class="table-cell">7.872</div>
</td>
<td><div class="table-cell">8.372</div>
</td>
<td><div class="table-cell">7.859</div>
</td>
<td><div class="table-cell">3,413</div>
</td>
<td><div class="table-cell"><span>09:46:01 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGF3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGF3"></a></div>
<span><b>JAN 2023</b><br/>NGF3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-F3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.346</div>
</td>
<td><div class="table-cell positive">+0.525 (+6.71%)</div>
</td>
<td><div class="table-cell">7.821</div>
</td>
<td><div class="table-cell">7.899</div>
</td>
<td><div class="table-cell">8.470</div>
</td>
<td><div class="table-cell">7.899</div>
</td>
<td><div class="table-cell">6,642</div>
</td>
<td><div class="table-cell"><span>09:45:38 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGG3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGG3"></a></div>
<span><b>FEB 2023</b><br/>NGG3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-G3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">8.073</div>
</td>
<td><div class="table-cell positive">+0.530 (+7.03%)</div>
</td>
<td><div class="table-cell">7.543</div>
</td>
<td><div class="table-cell">7.666</div>
</td>
<td><div class="table-cell">8.184</div>
</td>
<td><div class="table-cell">7.666</div>
</td>
<td><div class="table-cell">2,995</div>
</td>
<td><div class="table-cell"><span>09:45:49 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGH3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGH3"></a></div>
<span><b>MAR 2023</b><br/>NGH3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-H3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">6.761</div>
</td>
<td><div class="table-cell positive">+0.315 (+4.89%)</div>
</td>
<td><div class="table-cell">6.446</div>
</td>
<td><div class="table-cell">6.528</div>
</td>
<td><div class="table-cell">6.885</div>
</td>
<td><div class="table-cell">6.510</div>
</td>
<td><div class="table-cell">4,283</div>
</td>
<td><div class="table-cell"><span>09:45:30 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGJ3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGJ3"></a></div>
<span><b>APR 2023</b><br/>NGJ3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-J3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">4.880</div>
</td>
<td><div class="table-cell positive">+0.101 (+2.11%)</div>
</td>
<td><div class="table-cell">4.779</div>
</td>
<td><div class="table-cell">4.764</div>
</td>
<td><div class="table-cell">4.982</div>
</td>
<td><div class="table-cell">4.762</div>
</td>
<td><div class="table-cell">5,635</div>
</td>
<td><div class="table-cell"><span>09:46:38 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGK3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGK3"></a></div>
<span><b>MAY 2023</b><br/>NGK3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-K3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">4.699</div>
</td>
<td><div class="table-cell positive">+0.067 (+1.45%)</div>
</td>
<td><div class="table-cell">4.632</div>
</td>
<td><div class="table-cell">4.701</div>
</td>
<td><div class="table-cell">4.806</div>
</td>
<td><div class="table-cell">4.680</div>
</td>
<td><div class="table-cell">3,237</div>
</td>
<td><div class="table-cell"><span>09:46:21 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGM3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGM3"></a></div>
<span><b>JUN 2023</b><br/>NGM3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-M3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">4.738</div>
</td>
<td><div class="table-cell positive">+0.066 (+1.41%)</div>
</td>
<td><div class="table-cell">4.672</div>
</td>
<td><div class="table-cell">4.741</div>
</td>
<td><div class="table-cell">4.840</div>
</td>
<td><div class="table-cell">4.718</div>
</td>
<td><div class="table-cell">1,336</div>
</td>
<td><div class="table-cell"><span>09:46:21 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGN3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGN3"></a></div>
<span><b>JUL 2023</b><br/>NGN3</span></div>
</td>
<td><div class="table-cell"><a href="https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.options.html#optionProductId=191&expiration=191-N3" class="option" rel="nofollow"><span>OPT</span></a></div>
</td>
<td><div class="table-cell"><a rel="noopener noreferrer"></a></div>
</td>
<td><div class="table-cell">4.779</div>
</td>
<td><div class="table-cell positive">+0.064 (+1.36%)</div>
</td>
<td><div class="table-cell">4.715</div>
</td>
<td><div class="table-cell">4.785</div>
</td>
<td><div class="table-cell">4.887</div>
</td>
<td><div class="table-cell">4.758</div>
</td>
<td><div class="table-cell">800</div>
</td>
<td><div class="table-cell"><span>09:46:38 CT<br/>03 May 2022</span></div>
</td>
</tr>
<tr class="table-row-animate"><td class=""><div class="table-cell month-code"><div class="auth-tooltip-container"><a id="auth-tooltip-future-portfolio-tooltip-NGQ3" class="portfolio-icon" rel="noopener noreferrer" name="auth-tooltip-future-portfolio-tooltip-NGQ3"></a></div>
<span><b>AUG 2023</b><br/>NGQ3</span></div>
</td>
</tr>
</tbody>
</table>
New Golden Age for NG
tag:gohaynesvilleshale.com,2022-04-16:2117179:Topic:4019187
2022-04-16T22:11:57.025Z
Jesse Joyner
https://gohaynesvilleshale.com/profile/JesseJoyner
<p><span style="font-size: 14pt;">With NG futures topping $7, let's hope this new golden age for NG sticks for a few years before we go through another bust cycle.</span></p>
<p><span style="font-size: 14pt;">A while back (a couple of years ago I think), somewhere I posted on GHS that it was possible we were heading into a NG golden age. And now it seems to me like the Russian sanctions and Europe's need for LNG should stay around for a number of years.…</span></p>
<p></p>
<p><span style="font-size: 14pt;">With NG futures topping $7, let's hope this new golden age for NG sticks for a few years before we go through another bust cycle.</span></p>
<p><span style="font-size: 14pt;">A while back (a couple of years ago I think), somewhere I posted on GHS that it was possible we were heading into a NG golden age. And now it seems to me like the Russian sanctions and Europe's need for LNG should stay around for a number of years.</span></p>
<p><span style="font-size: 14pt;">Of course, the seven sisters/indies always tend to over drill and dump gluts on the market and drive down prices. Yet this is quite a unique geopolitical situation. I can see a lot of oil drilling coming and oil dropping back down relatively fast, but the demand for NG could hold up the futures markets for several years.</span></p>
<p><span style="font-size: 14pt;">Maybe.</span></p>
<p></p>
Natural Gas Price Fundamental Daily Forecast – With Oil Prices Down, Production Cuts May Be Coming
tag:gohaynesvilleshale.com,2020-04-17:2117179:Topic:3901165
2020-04-17T15:32:00.558Z
Jesse Joyner
https://gohaynesvilleshale.com/profile/JesseJoyner
<p><span style="font-size: 14pt;">FXEMPIRE</span></p>
<p><span style="font-size: 14pt;"><span>Today’s bullish price action suggests traders are already starting to price in the production cuts.</span></span></p>
<div class="Author__AuthorName-oq3uwg-3 fzvKDH"><a class="Link-sc-1vbtzq4-0 ijsIZH" href="https://www.fxempire.com/author/jameshyerczyk"><span style="font-size: 14pt;">James Hyerczyk</span></a></div>
<div class="Card-sc-1ib64vn-0 QJzuR"><span style="font-size: 14pt;">2 hours ago (Apr…</span></div>
<p><span style="font-size: 14pt;">FXEMPIRE</span></p>
<p><span style="font-size: 14pt;"><span>Today’s bullish price action suggests traders are already starting to price in the production cuts.</span></span></p>
<div class="Author__AuthorName-oq3uwg-3 fzvKDH"><a class="Link-sc-1vbtzq4-0 ijsIZH" href="https://www.fxempire.com/author/jameshyerczyk"><span style="font-size: 14pt;">James Hyerczyk</span></a></div>
<div class="Card-sc-1ib64vn-0 QJzuR"><span style="font-size: 14pt;">2 hours ago (Apr 17, 2020 06:20 AM GMT)</span></div>
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<div class="Card-sc-1ib64vn-0 QJzuR"><div class="sc-bwzfXH fx-grid__RowSystem-sc-188skn7-7 haiKmu"><div class="sc-htpNat fx-grid__ColSystem-sc-188skn7-8 iZOtS"><div class="Body-sc-17zpet9-0 kQelQl"><div><p><span style="font-size: 14pt;">Natural gas prices are surging on Friday shortly after the regular session opening and Thursday’s dramatic technical reversal as traders shrugged off yesterday’s bearish government storage report, choosing instead to focus on the rapid pace of falling production. Falling spot prices and the emergence of milder weather patterns may be limiting gains.</span></p>
<p><span style="font-size: 14pt;">At 13:01 GMT, <a href="https://www.fxempire.com/markets/natural-gas/overview">June natural gas futures</a> are trading $1.895, up $0.050 or +2.71%.</span></p>
<p><span style="font-size: 14pt;">According to Natural Gas Intelligence (NGI), with the relaxing of coronavirus-related shutdowns and stay-at-home orders not yet know, the supply side of the equation is starting to come into focus.</span></p>
<p><span style="font-size: 14pt;">Tudor, Pickering, Holt & Co. (TPH) analysts said the last two days of flow data showed total U.S. gas production down around 1.5 Bcf/d, “which could indicate the first signs of a break in U.S. gas supply.”</span></p>
<h2><span style="font-size: 14pt;">U.S. Energy Information Administration Weekly Storage Report</span></h2>
<p><span style="font-size: 14pt;">The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 73 billion cubic feet for the week-ended April 10. That was generally in line with average expectations for an increase of 71 billion cubic feet, according to a survey of analysts.</span></p>
<p><span style="font-size: 14pt;">Total stocks now stand at 2.097 trillion cubic feet, up 876 billion cubic feet from a year ago, and 370 billion cubic feet above the five-year average, the government said.</span></p>
<p><span style="font-size: 14pt;">NGI said a Bloomberg survey showed projections ranging from 42 Bcf to 78 Bcf, with a median build of 67 Bcf. A Dow Jones poll showed estimates as low as 39 Bcf and produced an average 58 Bcf injection. NGI’s model pegged the build at 57 Bcf.</span></p>
<p><span style="font-size: 14pt;">Last year, the EIA recorded a 73 Bcf build for the similar week, and the five-year average is a build of 27 Bcf.</span></p>
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<div class="Card-sc-1ib64vn-0 eosrFZ"><div class="Card-sc-1ib64vn-0 htOCgu"><span style="font-size: 14pt;">Advertisement</span></div>
<span id="zone217593706" style="font-size: 14pt;"></span></div>
<div class="Body-sc-17zpet9-0 kQelQl"><div><h2><span style="font-size: 14pt;">Short-Term Weather Outlook</span></h2>
<p><span style="font-size: 14pt;">According to NatGasWeather for April 17 – April 23, “Cool shots will continue across the central and northern US into early next week with chilly lows of 20s and 30s. Texas and the South will warm back into the 70s and 80s into the foreseeable future, locally a touch hot into the 90s. The West will be mostly comfortable with highs of 50s to 80s for light demand. Warmer than normal conditions will build across all but the northeastern US mid-next week with national demand easing to lighter levels.”</span></p>
<h2><span style="font-size: 14pt;">Short-Term Outlook</span></h2>
<p><span style="font-size: 14pt;">Oil prices are down again with nearby futures under $18. This suggests further loss in US oil rigs for this afternoons Baker-Hughes rigs report. It will be watched very closely as it already has dropped a huge amount of oil rigs the past 3-4 weeks, declining more than 30%. This means less associated gas production. However, traders are asking themselves, when is this going to happen? It still hasn’t shown up in the data, given the two straight solidly bearish EIA storage reports.</span></p>
<p><span style="font-size: 14pt;">Today’s bullish price action suggests traders are already starting to price in the production cuts.</span></p>
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Opinions on shutting in NG wells
tag:gohaynesvilleshale.com,2016-02-19:2117179:Topic:3581771
2016-02-19T15:03:32.096Z
Jesse Joyner
https://gohaynesvilleshale.com/profile/JesseJoyner
<p>With these really low NG prices, what's your thoughts on which operators will most likely shut-in their NG wells? Will the recently drilled big CULs be turned off? Will the old vertical wells stay on? Will the big boys keep "pullin'" or choke down? Will the smaller operators have no choice but to keep producing at these low NG prices?</p>
<p>With these really low NG prices, what's your thoughts on which operators will most likely shut-in their NG wells? Will the recently drilled big CULs be turned off? Will the old vertical wells stay on? Will the big boys keep "pullin'" or choke down? Will the smaller operators have no choice but to keep producing at these low NG prices?</p>
An Embedded Psychologial Support to NG Pricing
tag:gohaynesvilleshale.com,2013-08-22:2117179:Topic:3056977
2013-08-22T19:52:44.178Z
GoshDarn
https://gohaynesvilleshale.com/profile/GoshDarn
<p><strong>Presently, NG futures seem to have some sort of embedded psychological support that appears to extend beyond the factoring in of the demands for cooling/heating via weather patterns/usage. And this seems to be a bit atypical for this time of year, per the recent NG pricing cycles, being as the upside seems to be holding (if one considers a base above $3 as an upside after an earlier drop down from $4 +). </strong></p>
<p><strong>Maybe the Wall Street banks are basing the market with…</strong></p>
<p><strong>Presently, NG futures seem to have some sort of embedded psychological support that appears to extend beyond the factoring in of the demands for cooling/heating via weather patterns/usage. And this seems to be a bit atypical for this time of year, per the recent NG pricing cycles, being as the upside seems to be holding (if one considers a base above $3 as an upside after an earlier drop down from $4 +). </strong></p>
<p><strong>Maybe the Wall Street banks are basing the market with support per the flashy pricing numbers from earlier this year, being as the storage isn't that atypical.</strong></p>
<p><strong>Or maybe there's some other factor, e.g., the rapid production drop from drilled shale wells and their tendency to flat-line downward . . . skewing the charts . . . that some insider number crunchers are aware of and which is helping support NG prices.</strong></p>
<p><strong>Could be the next six months will help explain the particulars . . . if some sharp insider analyst on GHS isn't able to tip us to an unknown puzzle piece.</strong></p>
<p></p>
<p></p>
BNSF experimenting with conversion of locomotives to NG
tag:gohaynesvilleshale.com,2013-03-07:2117179:Topic:2872923
2013-03-07T17:07:25.922Z
ledlights
https://gohaynesvilleshale.com/profile/ledlights
<p>BNSF railroad has been consulting with 2 rail engine manufacturers, GE and Caterpillar, that it says have promising solutions for NG engines. The railroad co. wants to pilot an LNG engine program in the next year and is currently seeking regulatory approval to proceed.</p>
<p><a href="http://www.cnbc.com/id/100530572" target="_blank">Link to CNBC article</a></p>
<p><a href="http://www.cnbc.com/id/100531444"> </a></p>
<p>BNSF railroad has been consulting with 2 rail engine manufacturers, GE and Caterpillar, that it says have promising solutions for NG engines. The railroad co. wants to pilot an LNG engine program in the next year and is currently seeking regulatory approval to proceed.</p>
<p><a href="http://www.cnbc.com/id/100530572" target="_blank">Link to CNBC article</a></p>
<p><a href="http://www.cnbc.com/id/100531444"> </a></p>
Obama Warms to Energy Industry by Supporting Natural Gas
tag:gohaynesvilleshale.com,2012-05-09:2117179:Topic:2534797
2012-05-09T15:59:18.055Z
GoshDarn
https://gohaynesvilleshale.com/profile/GoshDarn
<p><strong>Via our good friends at <em>Bloomberg.</em></strong></p>
<p><strong><em><br></br></em></strong><em><a href="http://www.bloomberg.com/news/2012-05-09/obama-warms-to-energy-industry-by-supporting-natural-gas.html">http://www.bloomberg.com/news/2012-05-09/obama-warms-to-energy-industry-by-supporting-natural-gas.html</a></em></p>
<div id="disqus_title"><h1>Obama Warms to Energy Industry by Supporting Natural Gas</h1>
</div>
<p><em><cite class="byline">By Mark Drajem -…</cite></em></p>
<p><strong>Via our good friends at <em>Bloomberg.</em></strong></p>
<p><strong><em><br/></em></strong><em><a href="http://www.bloomberg.com/news/2012-05-09/obama-warms-to-energy-industry-by-supporting-natural-gas.html">http://www.bloomberg.com/news/2012-05-09/obama-warms-to-energy-industry-by-supporting-natural-gas.html</a></em></p>
<div id="disqus_title"><h1>Obama Warms to Energy Industry by Supporting Natural Gas</h1>
</div>
<p><em><cite class="byline">By Mark Drajem - <span class="datestamp">May 9, 2012 7:26 AM PT</span></cite></em></p>
<p><em><br/></em></p>
<p>Huddled around the West Wing table were an unlikely group of co-conspirators with the administration of U.S. President <a href="http://topics.bloomberg.com/barack-obama/">Barack Obama</a>.</p>
<p>One participant had been fighting Obama’s proposal to raise taxes by $24 billion on oil companies; another had complained that a federal labor board is hampering hiring; a third pushed Congress to repeal Obama’s provision to clean up pollution from boilers. On the one issue they were called to discuss on that April day, however, they could rally around the Democratic administration: its recent embrace of natural gas.</p>
<div class="story_inline assets clearfix"><div class="story_inline attachments"><div class="image thumbnail first decoratable"><div class="thumbnail_container overlay_container"><a class="enlarge_image" rel="#181880" href="http://www.bloomberg.com/photo/natural-gas-/181880.html" target="_blank"><span>Enlarge image</span> <img alt="Natural Gas " class="small_img img_keep_size" src="http://www.bloomberg.com/image/iOU372zB5bhk.jpg"/></a><div class="simple_overlay" id="181880"><h3 class="image_title" style="width: 461px;">Natural Gas</h3>
<img alt="Natural Gas " class="img_keep_size" src="http://www.bloomberg.com/image/iYOK6mxJ0E_s.jpg" height="500" width="461"/><br />
<div class="details" style="width: 461px;"><div class="subdetails"></div>
<p class="caption_only">President Barack Obama put his initial emphasis as president on boosting solar panels and wind turbines, but now natural gas is front and center. Photo: Mike Mergen/Bloomberg</p>
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<p class="caption">President Barack Obama put his initial emphasis as president on boosting solar panels and wind turbines, but now natural gas is front and center. Photo: Mike Mergen/Bloomberg</p>
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<div class="chart_link story_attachment decoratable"><span><a href="http://www.bloomberg.com/chart/iybA45nRAWQ8/"><span class="link_type_label">Chart:</span> White House Warms Up to Natural Gas</a></span></div>
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</div>
<p>For a president who has drawn withering criticism from the energy industry on issues ranging from the Keystone XL pipeline to environmental restrictions on coal-fired power plants, the White House meeting -- and a series of decisions that followed - - illustrate his embrace of one fossil fuel.</p>
<p>While Obama put his initial emphasis as president on boosting solar panels and wind turbines, natural gas is now front and center even as skepticism about hydraulic fracturing, or fracking, is rising among Obama’s environmental allies such as the Sierra Club.</p>
<p>“They’re more responsive, and they’re listening more closely to our views,” <a href="http://topics.bloomberg.com/jack-gerard/">Jack Gerard</a>, the president of the <a href="http://topics.bloomberg.com/american-petroleum-institute/">American Petroleum Institute</a> in Washington and one of the participants in that meeting, said in an interview. “The energy and economic reality is starting to sink in.”</p>
<h2>Won Small Battles</h2>
<p>At that April 13 meeting with trade groups representing companies including <a href="http://www.bloomberg.com/quote/DD:US" title="Get Quote" class="web_ticker">DuPont Co. (DD)</a>, <a href="http://www.bloomberg.com/quote/NBL:US" title="Get Quote" class="web_ticker">Noble Energy Inc. (NBL)</a> and <a href="http://www.bloomberg.com/quote/CAT:US" title="Get Quote" class="web_ticker">Caterpillar Inc. (CAT)</a>, the Obama administration unveiled an interagency task force to coordinate the development of natural gas. And since then industry has won a series of small battles: officials downplayed reports of water pollution from fracking in Wyoming and Pennsylvania; they turned down a request by environmentalists to ban diesel in fracking; and they eased off on two gas-drilling regulations.</p>
<p>In response, Obama has gained two -- not three -- cheers from industry groups, and an issue that may be politically potent this year.</p>
<p>“It took a while for the administration to realize the role it could play,” Michael Walls, vice president of the American Chemistry Council and another person in the Roosevelt Room that day, said in an interview. “What we’ve seen is an evolution in thinking.”</p>
<h2>Contributions to Republicans</h2>
<p>While Obama is unlikely to gain the full-throated support of the oil and gas industry -- which gave 88 percent of its $22 million in <a href="http://www.opensecrets.org/industries/totals.php?cycle=2012&ind=E01" title="Open Web Site" rel="external">contributions</a> to Republicans in this campaign, according to the <a href="http://www.opensecrets.org/about/" title="Open Web Site" rel="external">Center for Responsive Politics</a> -- gas production is taking off in key electoral battleground states such as Pennsylvania, Ohio and Colorado. And the surge in <a href="http://topics.bloomberg.com/natural-gas/">natural gas</a> production and fall in prices offers Obama a ready rebuttal to Republicans on energy issues.</p>
<p>“This is a counter-argument to those attacking him on gasoline prices,” <a href="http://topics.bloomberg.com/bruce-oppenheimer/">Bruce Oppenheimer</a>, a professor at <a href="http://topics.bloomberg.com/vanderbilt-university/">Vanderbilt University</a> who studies the politics of energy, said in an interview. “It becomes a real talking point for him when he gets attacked on energy.”</p>
<p>Of a list of nine energy options polled by the <a href="http://topics.bloomberg.com/university-of-texas/">University of Texas</a> in March, expanding production of natural gas was seen as the most likely to generate support for a candidate, topping expanding drilling off the Gulf Coast, eliminating the Environmental Protection Agency or backing renewable energy.</p>
<p>The growth in natural gas production from shale has pushed down prices by 50 percent in less than a year and led to a spurt in employment and production of steel, chemicals and fertilizer.</p>
<h2>Fracking-Linked Pollution</h2>
<p>At the same time, many local residents and activists complain that the process of hydraulic fracturing to free that gas has led to contamination of drinking wells, toxic wastewater seeping into streams and hazardous smog in the air.</p>
<p>The administration is tacking in response to the surprising boom in natural gas, which pollutes less than coal when burned in a power plant, while also trying to mitigate risks, officials say. Obama himself claimed in his <a href="http://topics.bloomberg.com/state-of-the-union/">State of the Union</a> address this year that the U.S. has a century’s worth of natural gas reserves, and developing that gas could boost employment by 600,000 jobs by the end of the decade.</p>
<p>“We recognize that there is this important potential here, and we want to make sure we get it right,” <a href="http://topics.bloomberg.com/heather-zichal/">Heather Zichal</a>, the top White House aide on energy, said in an interview. Given the boom in production, “our thinking has truly evolved, both on the production and utilization side.”</p>
<h2>Industry Lobbyists</h2>
<p>After Obama embraced natural gas as part of an “all-of- the-above” approach this year, Zichal held a series of conversations with Gerard, whose group represents companies such as <a href="http://www.bloomberg.com/quote/XOM:US" title="Get Quote" class="web_ticker">Exxon Mobil Corp. (XOM)</a> of Irving, Texas, and ConocoPhillips of Houston, and <a href="http://topics.bloomberg.com/dave-mccurdy/">Dave McCurdy</a>, the president of the <a href="http://www.aga.org/about/Pages/default.aspx" title="Open Web Site" rel="external">American Gas Association</a>, a Washington group representing companies that distribute natural gas including <a href="http://www.bloomberg.com/quote/ED:US" title="Get Quote" class="web_ticker">Consolidated Edison Inc. (ED)</a> of <a href="http://topics.bloomberg.com/new-york/">New York</a> and Southern California Gas Co. of San Deigo.</p>
<p>Gerard, who had visited the White House only a few times since Obama took office and donated $2,500 to the presidential campaign of Republican <a href="http://topics.bloomberg.com/mitt-romney/">Mitt Romney</a>, was an unlikely partner.</p>
<p>McCurdy wasn’t.</p>
<p>A former Oklahoma Democratic congressman, McCurdy, as the head of the Alliance of Automobile Manufacturers when Obama took office in 2009, had used his low-key charm to coax the administration into negotiating new fuel-efficiency standards with automakers.</p>
<p>Just as with the automakers, McCurdy said the White House recognizes “that with the natural gas community, they don’t have to be in natural conflict,” he said in an interview.</p>
<h2>Separate Agendas</h2>
<p>Both Gerard and McCurdy had been emphasizing one point: While Obama had called for more gas production, as many as a dozen federal agencies were considering various rules or policies that could deal drilling a setback.</p>
<p>“You had a president setting a broad policy position, and then you had agencies off implementing their own agendas,” McCurdy said.</p>
<p>After weeks of these discussions, the White House called Gerard, McCurdy, and officials from America’s Natural Gas Alliance, the National Association of Manufacturers, the American Chemistry Council and the U.S. Chamber of Commerce into the White House meeting, held just steps from the Oval Office.</p>
<p>Not in attendance: environmental or health groups.</p>
<p>From the administration were Zichal and Cass Sunstein, the administration’s top regulator. Together they told the group that Obama would start an interagency group, made up of 13 federal departments or offices, to tackle just the points industry had raised: the conflicting agendas within the administration seeking to regulate fracking, in which water, sand and chemicals are shot into the ground to break apart underground rock and free gas trapped there.</p>
<h2>Praise for Obama</h2>
<p>The lobbyists then laid out their issues: one pushed for EPA to delay and scale back new rules on air pollution from gas drilling; another wanted help in permitting new pipelines; a third asked the White House to get EPA to reevaluate how it measures methane, a greenhouse gas that escapes when a well is first fracked.</p>
<p>And in the end, both sides collected victories.</p>
<p>Instead of criticisms, the groups praised Obama for launching the effort. The White House dutifully collected the statements and e-mailed them around to reporters.</p>
<p>Over the weeks that followed, the EPA delayed requirements that drillers capture the gas emitted when a well is first tapped until 2015, a key demand of Gerard’s group. The Bureau of Land Management eased off on requirements for disclosure of chemicals used in fracking. And the EPA disregarded a plea from environmentalists to outlaw the use of diesel in fracking.</p>
<h2>Politically Powerful</h2>
<p>Just yesterday, the Interior Department approved <a href="http://www.bloomberg.com/quote/APC:US" title="Get Quote" class="web_ticker">Anadarko Petroleum Corp. (APC)</a>’s $10 billion natural-gas project to drill 3,675 wells in Utah’s Greater Natural Buttes area in Uintah County.</p>
<p>“The oil and gas industry is a very powerful and politically influential industry,” Amy Mall, a senior policy analyst at the <a href="http://topics.bloomberg.com/natural-resources-defense-council/">Natural Resources Defense Council</a> in Washington, said. “They’re making it hard to make a case that companies can and should clean up their act.”</p>
<p>Industry groups aren’t entirely satisfied either. Even with the changes to each of the EPA and BLM rules, Gerard says the administration is imposing needless costs, and should leave regulation to the states.</p>
<p>They are also still fighting on other issues. Gerard, called Obama’s attacks on <a href="http://topics.bloomberg.com/oil-companies/">oil companies</a>’ tax bills “misleading” and “offensive.” And he has a clear-eyed sense of why he has a new ally in the White House now.</p>
<p>“You are seeing the president begin to pivot, because he is on the wrong side of the American people,” Gerard said. “And it’s election time.”</p>
<p>To contact the reporter on this story: Mark Drajem in Washington at <a href="mailto:mdrajem@bloomberg.net" title="Send E-mail">mdrajem@bloomberg.net</a></p>
<p>To contact the editor responsible for this story: Jon Morgan at <a href="mailto:jmorgan97@bloomberg.net" title="Send E-mail">jmorgan97@bloomberg.net</a></p>
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U.S. Reduces Estimate for Marcellus Shale Formation Gas Reserves by 66%
tag:gohaynesvilleshale.com,2012-01-23:2117179:Topic:2348976
2012-01-23T17:42:12.919Z
GoshDarn
https://gohaynesvilleshale.com/profile/GoshDarn
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<p><strong>From our good friends at <em>Bloomberg News</em>. Now it seems that there's a good bit less shale gas in the ground, not only in the Marcellus, but also in the U.S. (in general). Better stats; better clarity on possible reserves.</strong></p>
<h1 class="disqus_title"><span class="font-size-4">U.S. Reduces Estimate for Marcellus Shale Formation Gas Reserves by 66%</span></h1>
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<div><cite class="byline"><cite class="byline">By…</cite></cite></div>
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<p><strong>From our good friends at <em>Bloomberg News</em>. Now it seems that there's a good bit less shale gas in the ground, not only in the Marcellus, but also in the U.S. (in general). Better stats; better clarity on possible reserves.</strong></p>
<h1 class="disqus_title"><span class="font-size-4">U.S. Reduces Estimate for Marcellus Shale Formation Gas Reserves by 66%</span></h1>
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<div><cite class="byline"><cite class="byline">By Christine Buurma - <span class="datestamp">Jan 23, 2012 9:04 AM PT</span></cite></cite></div>
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<p class="twitter">The U.S. Energy Department cut its estimate for natural gas reserves in the Marcellus shale formation by 66 percent, citing improved data on drilling and production.</p>
<p>About 141 trillion cubic feet of gas can be recovered from the Marcellus shale using current technology, down from the previous estimate of 410 trillion, the department said today in its <a href="http://www.eia.gov/forecasts/aeo/er/pdf/0383er%282012%29.pdf" title="Open Web Site" rel="external">Annual Energy Outlook</a>. About 482 trillion cubic feet can be produced from shale basins across the U.S., down 42 percent from 827 trillion in last year’s outlook.</p>
<p>“Drilling in the Marcellus accelerated rapidly in 2010 and 2011, so that there is far more information available today than a year ago,” the department said. The estimates represent unproved technically recoverable gas. The daily rate of Marcellus production doubled during 2011.</p>
<p>The estimated Marcellus reserves would meet U.S. gas demand for about six years, using 2010 <a href="http://www.eia.gov/dnav/ng/ng_cons_sum_dcu_nus_a.htm" title="Open Web Site" rel="external">consumption</a> data, according to the Energy Department, down from 17 years in the previous outlook.</p>
<p>The Marcellus Shale is a rock formation stretching across the U.S. Northeast, including <a href="http://topics.bloomberg.com/pennsylvania/">Pennsylvania</a> and New York. Shale producers use a technique known as hydraulic fracturing, which involves pumping water, sand and chemicals underground to extract gas embedded in the rock.</p>
<h2>Geological Data</h2>
<p>The <a href="http://topics.bloomberg.com/u.s.-geological-survey/">U.S. Geological Survey</a> said in August that it would reduce its estimate of undiscovered Marcellus Shale natural gas by as much as 80 percent after an updated assessment by government geologists.</p>
<p>Shale gas will probably account for 49 percent of total U.S. dry gas production in 2035, up from 23 percent in 2010, the Energy Department said today.</p>
<p>Gas’s share of electric power generation will increase to 27 percent in 2035 from 24 percent in 2010, the report showed.</p>
<p>The department also said the U.S. may become a net exporter of liquefied natural gas in 2016 and a net exporter of natural gas in 2021. U.S. LNG exports may start with a capacity of 1.1 billion cubic feet a day in 2016 and increase by an additional 1.1 billion cubic feet per day in 2019, the department said.</p>
<p>To contact the reporter on this story: Christine Buurma in <a href="http://topics.bloomberg.com/new-york/">New York</a> at <a href="mailto:cbuurma1@bloomberg.net" title="Send E-mail">cbuurma1@bloomberg.net</a>;</p>
<p>To contact the editor responsible for this story: Dan Stets at <a href="mailto:dstets@bloomberg.net" title="Send E-mail">dstets@bloomberg.net</a></p>
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<p><strong>ttp://www.bloomberg.com/news/2012-01-23/u-s-reduces-marcellus-shale-gas-reserve-estimate-by-66-on-revised-data.html</strong></p>