Natural Gas News – February 8, 2018

Natural Gas News – February 8, 2018

Oklahoma City-based Valiant Midstream to Build Natural Gas System in SE Oklahoma

NewsOK reported: Southeast Oklahoma’s newest hot oil and natural gas field has attracted another $200 million investment. Executives from Oklahoma City-based Valiant Midstream LLC said Wednesday the company has begun construction on a 100-mile natural gas gathering system designed to stretch across Hughes, Coal and Atoka counties and parts of Pittsburg, Pontotoc and Seminole counties. The project also includes a cryogenic processing plant with a capacity of 200 million cubic feet of natural gas per day that is expected to be operational by year’s end. The system is the first major project by the Oklahoma City company founded in July 2017. The project is designed to process new production in an area of the Arkoma Basin. Producers in the area are using similar techniques to drill into the same rock layers that have fueled the ongoing drilling boom in central and northwest Oklahoma’s STACK and SCOOP fields. The region is home to historic natural gas production, but in recent years it has attracted increasing interest from horizontal well drillers and the companies that support them. For more visit newsok.com or click http://bit.ly/2GSUYjD

U.S. Natural Gas Production Only Goes Up

Kallanish Energy reported: U.S. dry natural gas production averaged 73.6 billion cubic feet per day (Bcf/d) in 2017, and is forecast to reach 80.3 Bcf/d in 2018, establishing a new record, STEO, the Energy Information Administration’s just-released Short-Term Energy Outlook, projects. That level would be 6.7 Bcf/d higher than the 2017 level, and the forecast 2017 growth would be the highest annual average growth on record. EIA expects natural gas production will also increase in 2019, with forecast growth of 2.6 Bcf/d, to 82.9 Bcf/d. In January, the U.S. benchmark Henry Hub natural gas spot price averaged $3.88 per MMBtu. For more visit kallanishenergy.com or click http://bit.ly/2Ecchuj

 

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