Natural Gas News – November 30, 2018

Natural Gas News – November 30, 2018

Tighter Supplies Push Natural Gas Prices Higher

U.S. natural gas exports to Mexico hit a new record amid sagging production south of the border. Mexico imported about 6 billion cubic feet of natural per day from the United States in August, the U.S. Energy Information Administration reported late Thursday afternoon. Some 5.1 billion cubic feet of natural gas per day was delivered via cross-border pipelines while another 860 million was delivered using liquefied natural gas import terminals, EIA data shows. The record figures come at a time when natural gas production in Mexico continues to fall and demand from new power plants and factories is growing. Mexico’s dry natural gas production was 2.4 billion cubic feet per day in October, according to Mexico’s state-owned oil company Petróleos Mexicanos, or Pemex. For more on this story visit chron.com or click https://bit.ly/2Q1z9GA

Rental Natural Gas Power Systems Speed New Frac Sand Mines To Market

EP MAG reports: Until recently, the sands of the Permian Basin were considered near-worthless. That was until oil companies found that the more sand they pumped into the well, the higher the production. The Permian Basin’s horizontal wells and other nearby formations are now estimated to consume 200,000 pounds more per well than in 2017. Amid skyrocketing demand and rising prices for the key hydraulic fracturing ingredient, several major frac sand suppliers plan mining operations expansions in the region. Texas regulators already issued at least 15 permits for new frac sand mine startups in 2018, with annual projected supply expected to reach 40 million tons, according to analysts. Several Permian sand suppliers reported securing long term customer commitments of more than 1 million tons of sand per year. In September, Houston-based WildHorse Resources started construction of its $70 million frac sand mine the eastern end of the Eagle Ford Shale. For more on this story visit epmag.com or click https://bit.ly/2FPXE56

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.

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