Natural Gas News – March 14, 2018

Natural Gas News – March 14, 2018

Slow, But Steady Natural Gas Rig Growth Shows Promise in Texas

Corpus Christi Caller Times reported: The U.S. rig count added three rigs last week, capping weeks of small, but consistent, growth. Experts say the trend will continue in the future as global demand for natural gas swells. The number of oil-seeking rigs nationally fell by four, but natural gas-drilling rigs increased by seven during the week that ended March 9, according to weekly data from Baker Hughes, an oilfield services, supply and technology firm that tracks energy industry trends. Two of the Texas rigs were added in the Permian Basin, which stretches across west Texas and New Mexico. Jim Lee, chief economist at Texas A&M University-Corpus Christi, noted most of the recent growth has come from the Permian Basin, where new reserves have been found. A total of 984 oil and gas rigs were running across the United States last week. During that time, 188 rigs were targeting natural gas and 796 were targeting oil. The rest were drilling service wells. In Texas, 490 rigs were running, up seven rigs from the week before and up more than double the volume from the same point a year ago (215). For more on this story visit caller.com or click http://bit.ly/2GoI4tI

There’s Still Hope for Liquefied Natural Gas on the West Coast

CBC News reported: The once sky-high aspirations to develop a liquefied natural gas (LNG) industry on Canada’s West Coast have crashed to the ground, but experts say the window of opportunity has yet to close as demand for the resource continues to rise around the globe. After several project delays and cancellations, the LNG industry has struggled to take off in British Columbia. Meanwhile, the sector is blossoming in the United States as natural gas pipelines and LNG facilities are constructed. For more on this story cbc.ca or click http://bit.ly/2Gpcb4m

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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.

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