Nat Gas News – October 12, 2017

Nat Gas News – October 12, 2017

U.S. Winter Heating Bills Set to Rise Thanks to Colder Weather

Bloomberg reported: U.S. households are expected to pay more for heating this winter than a year ago, primarily because of colder temperatures. This winter is expected to be 13 percent colder than last, when above-normal temperatures kept heating costs relatively low, the agency said. The chill will be most acute in the U.S. South where temperatures will average 27 percent below last year. The West will be 4 percent colder while Eastern U.S. temperatures are expected to be near the five-year average. For the first time, the U.S. is expected to be a net gas exporter this winter, thanks to increased pipeline capacity to Mexico and more liquefied-natural gas capacity on the Gulf Coast. Almost half of U.S. households are expected to use gas to keep warm this winter. Demand may increase 9.2 percent from last year, the agency said. For more visit bloomberg.com or click https://bloom.bg/2i7uK4M

Oil, gas executives see reduced US rig deployment in 2018: Deloitte survey

Platts reported: A majority of oil and natural gas company executives polled in a survey released Wednesday expect a net decrease in rig deployment next year compared with 2016 levels, as spending by operators slides amid a forecast that US commodity prices will remain cheap. Half of upstream oil and gas executives surveyed expect up to a 10% decline in capital expenditures next year versus last year, including 4 in 10 expecting exploration spending to fall, Deloitte said. Some 58% expect a net decrease in rig deployment. On the midstream side, 56% of executives expect a decrease in capital expenditures in 2018 versus 2016, while only one in eight expect an increase over the next year, the survey found. Pipelines are seen as the best opportunity for growth in 2018, with the Gulf Coast seen as the most enticing region. Top prospects include expanding into new markets such as LNG. For more on this story visit platts.com or click http://bit.ly/2ygqdRO

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