Natural Gas News – April 27, 2018

Natural Gas News – April 27, 2018

US Northeast Natural Gas Producers Focus Anew on Drilling Efficiencies as Costs Rise

Platts reported: Appalachian Basin natural gas producers EQT and Antero Resources said Thursday they expect greater drilling efficiencies and new midstream infrastructure to boost growth and mitigate the effect of low gas prices and the possibility of higher labor, rig and materials costs. The out-looks were issued as the No. 1 and No. 7 US gas producers, respectively, released financial results for the first three months of the year, at a time when there is pressure on companies in the sector to focus on core areas and consolidate some operations while separating others. EQT reported a sizable loss versus a year -ago profit, while Antero posted a smaller first-quarter profit compared to 2017. The US Northeast shale producing region, which includes the Marcellus and Utica plays, has seen robust activity in recent years, prompting the need for more pipelines, processing facilities and gathering systems to move the gas and NGLs to markets. For more on this story visit platts.com or click https://bit.ly/2Hy1KPT

June NYMEX Gas Slips to $2.797/MMBtu on Healthy Outlook for Storage Rebuilding

Platts reported: NYMEX June natural gas futures had a weak showing in the US overnight ahead of Friday’s open, as the market looked beyond significantly depleted inventories toward what is expected to be a healthy pace of storage rebuilding going forward. At 6:29 am ET (1029 GMT) in its first day as the new lead month, the June contract was 4.2 cents lower at $2.797/MMBtu. Natural gas inventories continued to draw lower three weeks beyond the typical start of injection season, with the latest storage data from the US Energy Information Administration outlining an 18 Bcf withdrawal for the week ended April 20 For more on this story visit platts.com or click https://bit.ly/2FplZJC

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Make a Call

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote