For the past three years, underground natural gas storage capacity in the Lower 48 states has changed by relatively small increments compared to the changes in 2012 and 2013. No new storage facilities have entered service since 2013, so recent annual changes in both storage design capacities and demonstrated maximum working gas volumes reflect the […]
Republished April 13, 2017, at 11:30 a.m. to clarify the estimates of household gasoline expenditures from the Bureau of Labor Statistics. Drivers in the United States will pay an average of $2.46 per gallon (gal) this summer for regular gasoline, according to forecasts in EIA’s Short-Term Energy Outlook (STEO). Gasoline prices from April through September […]
Gross U.S. crude oil imports in 2016 rose to an average of 7.9 million barrels per day (b/d), 514,000 b/d more than the 2015 average. Net crude oil imports increased by a smaller amount (460,000 b/d), as U.S. crude oil exports rose despite a decline in U.S. crude oil production. From a longer term perspective, […]
A group of 44 U.S. onshore-focused oil producers issued a record amount of equity in 2016. In the fourth quarter of 2016, capital expenditure for these companies was $4.9 billion (72%) higher than in the fourth quarter of 2015. This increase in investment spending was the first year-over-year increase since the fourth quarter of 2014 […]
In 2016, U.S. crude oil exports averaged 520,000 barrels per day (b/d), 55,000 b/d (12%) more than in 2015 despite a year-over-year decline in production. However, the rate of U.S. crude oil export growth has slowed significantly from its pace over 2013-15 when annual U.S. crude production grew rapidly. Meanwhile, increased crude oil imports in […]
Source: U.S. Energy Information Administration. Principal contributor: Tyler Hodge Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England. Monthly wholesale prices for the rest […]
Source: EIA. Principal contributors: Natalie Kempkey, Matthew Manning In fiscal year (FY) 2016, the U.S. government collected almost $6 billion in revenues from royalties, rental costs, and other fees from activities related to energy production on federal and American Indian lands, according to the Department of Interior’s Office of Natural Resource Revenue. These activities include […]
Click here to read the latest NGN In the News The days of cheap natural gas are over Forbes reports: Natural gas prices averaged a little more than $2.50 per mmbtu (million British Thermal Units) in 2016. Those days are over. Prices willaverage at least $3.50 to $4.00 in 2017. Prices have more than doubled […]
Analysis by Dr. Nancy Yamaguchi The oil price war took a massive toll on the active rig count in the U.S. In 2015, the active rig count fell by over 60%, dropping from 1,840 rigs at the end of 2014 to 698 rigs at the end of 2015. Another 234 rigs dropped out during the […]
Source: Energy Information Administration. Principal contributor: Matthew French Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the […]
