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Natural Gas

EIA Reports Natural Gas Stocks Climb for First Time this Year

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The Energy Information Administration reported natural gas stocks climbed by 11 Bcf in the week ending March 16, slightly higher than the market consensus. 

Thursday’s report marks the first injection since November 2011 and likely the end of winter 2011/2012 withdrawal season.  Traditionally, the winter heating/withdrawal season is from November through March.  The first injection of 2012 comes about two weeks earlier than normal and pushes total inventories to 2,380 Bcf, further expanding the year-over-year surplus. 

Following the report, natural gas futures fell as the continued supply overhang weighs on prices.  For the remaining two weeks in March…
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Two New Proposed Pipelines Designed to Move Marcellus Gas Outside of Mid-Atlantic by 2015

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The growth in shale gas has fundamentally transformed the gas and power industries over the past three years and made gas the fuel of choice for new power generation.  The Marcellus shale in PA & WV has seen explosive growth from 0.2 Bcf/day in 2009 to close to 5 Bcf/d currently. 

While supply growth has exceeded expectations, it will at some point outpace the daily demand of the northeast markets. Efforts are currently underway to assess the pipeline demand for projects that would move Marcellus gas both north and south, further transforming the North American landscape for gas supply…
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Constellation Energy Officially Joins Exelon Corporation

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Constellation Energy was welcomed into the Exelon family of companies, creating the nation’s leading competitive energy provider with one of the industry’s cleanest and lowest-cost power generation fleets. This combined company’s substantial, low-cost, and environmentally friendly generation fleet and industry-leading customer-facing business creates a platform for continuing growth and innovation.  

The combination will integrate two complementary upstream and downstream businesses, giving us the potential to optimize value throughout the company. Both Exelon and Constellation have demonstrated their commitment to sustainability and competitive markets, helping drive innovation, efficiency, customer choice and better rates. Together, we will be…
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It’s Chamber of Commerce Weather for Energy Buyers…

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It appears to be a bright, sunny day for those on the buy-side of natural gas and by extension, electricity. Natural gas futures on the NYMEX for prompt month fell on Thursday, closing within pennies of the 10-year low set in January. Following the EIA’s weekly storage report indicating a smaller-than-expected 80Bcf was withdrawn from storage last week, the market continued its downward trend with prices for delivery in April falling to $2.27/MMBtu.…
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The LNG Revolution

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Last month the EIA released a study focused on the long-term impact of increased domestic natural gas demand from LNG exports. This assessment is timelier than ever considering the Department of Energy now has a total of seven LNG export applications and several projects in progress.

The two main reasons for this surge in project development is cheap domestic supply of natural gas relative to global markets and increasing global demand.

The tragedy of the March 2011 Japanese earthquake and tsunami has forever altered global natural gas demand. Japan…
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What Did The Largest Canadian Gas Producer Announce Today That Rallied NYMEX As Much As 16¢?

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Encana Corp, Canada’s largest natural gas producer and the third largest in North America behind Exxon Mobil and Chesapeake Energy, announced this morning that they were cutting production immediately by 250 mmcf/day and further reductions through reduced capital expenditures (capex) that will bring total volumes cut to 600mmcf/d or .6 Bcf/d.

Encana was producing approximately 3.5 Bcf/d of gas production at the end of 2011. Encana joins Chesapeake and Conoco Phillips in announcing production cuts over the past several weeks as producers look to conserve cash and shift production away from “dry” (almost pure methane) gas to either oil…
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