Natural Gas News – April 19, 2018
Natural Gas News – April 19, 2018
Shale Boom Creates New Petrochemical Hub
Oil Price reported: The record-setting natural gas production in the United States is benefiting not only consumers. The shale-growth-driven natural gas output is expected to bring benefits to the petrochemical industry as well, as manufacturers will continue to enjoy low-cost feedstock for plants in and close to areas where shale gas and natural gas plant liquids (NGPL) production is abundant, industry officials and analysts say. U.S. dry natural gas production will set a new record this year, averaging 81.1 Bcf/d, and will continue to rise in 2019, the EIA said in its April Short-Term Energy Outlook. In the Annual Energy Outlook 2018 (AEO2018), the EIA forecasts that U.S. dry natural gas production will increase through 2050 across a wide variety of alternative assumptions about the future. In the Reference case, which assumes current regulations and laws, U.S. natural gas production is expected to grow by 59 percent between 2017 and 2050, reaching 118 Bcf/d in 2050. For more on this story visit oilprice.com or click https:// bit.ly/2J9LSPw
As Production Dips, Idahoans Are Taking Oil & Gas Protections Into Their Own Hands
The Idaho Statesman: Julie and Duke Fugate turned down repeated attempts by an oil company to lease the mineral rights to their 1-acre property here, where they moved from Oregon to retire. Then last September, Julie Fugate got a packet from the Idaho Department of Lands. It said Alta Mesa Idaho — the only company producing oil and gas in the state — wanted to force her and her neighbors to lease their mineral rights. The company would use a process designed to allow it to drill if it could get approval from at least 55 percent of the area’s mineral-right holders. Fugate, a retired speech therapist, started going door-to-door, visiting 60 of her neighbors. She convinced many of them to file letters of objection. For more on this story visit idahostatesman.com or click https://bit.ly/2JUqE9D
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
