Natural Gas News – September 4, 2018

Natural Gas News – September 4, 2018

Tropical Storm Gordon Forecast to Strike U.S. Gulf Coast as a Hurricane

Bloomberg reported: New Orleans is on edge and some offshore energy workers have been evacuated as Tropical Storm Gordon heads for the U.S. Gulf of Mexico coast. It’s expected to become a hurricane Tuesday, and threatens to spread flooding rains into the Mississippi Delta and Midwest later this week. Gordon, with top winds of 65 miles (105 kilometers) per hour, was about 190 miles east-southeast of the mouth of Mississippi River, according to a National Hurricane Center advisory at 8 a.m. New York time. The center of the storm will move across the stern Gulf of Mexico Tuesday. “Strengthening is expected today, and Gordon is forecast to be a hurricane when it makes landfall along the north-central Gulf Coast,” according to the NHC advisory. “Rapid weakening is expected after Gordon moves inland.” For more on this story visit bloomberg.org or click https://bloom.bg/2NgZu1c

Climbing crude Prices to Spur Spending By Small, Intermediate Oil and Gas Companies

Financial Post reported: Rising oil prices that encouraged more spending by small and intermediate oil and gas companies in Western Canada in the first six months of 2018 are expected to lead drilling budgets to grow even further this fall. Producers say last week’s steady march by U.S. benchmark West Texas Intermediate oil prices to higher than US$70 per barrel, a level last seen in early July, will encourage some to open their wallets. “A lot of us spent a fair bit of our capex for the year in the first quarter, and before spring break in the second quarter, during that four-month period,” said George Fink, CEO of Bonterra Energy Corp., in an interview. “With the second half now, it’s a situation where, if we can stay between US$68 and $70, I think there will be companies that will potentially increase their capital in the fourth quarter and spend a little more because the cash flow will be better than most of us anticipated.” For more on this story visit financialpost.com or click https://bit.ly/2wB1Cq8

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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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