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Posts Tagged ‘Natural Gas Production’

May Natural Gas Production Hovers Near Record High

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On Tuesday, the U.S. Energy Information Administration (EIA) released its monthly Natural Gas Gross Production Report. Data from the report showed natural gas production in May in the lower 48 U.S. states was unchanged from April output.  Gas production in May totaled 72.39 billion cubic feet per day. May levels were 4.3% above the same month a year ago and very close to the record high gas output level of 72.74 bcf per day that was hit in January.

Monthly production numbers had started to decline in February and March sparking concern that the steep decline in gas drilling was finally…
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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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Today’s Energy Environment

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Today’s energy environment is riddled with a number of significant factors that can affect your bottom line.  Sluggish economic activity, record high natural gas production, and the EPA Clean Air Act rulings are all influencing the world of energy, and ultimately you as a consumer.

Environmental Policy Changes:
New and pending governmental regulations will most likely be an additional contributing factor to prices in 2012 and beyond. One such factor is the Cross State Air Pollution Rule (CSAPR), which was released by the Environmental Protection Agency (EPA) on July 7, 2011. This rule requires 27 states to significantly reduce…
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Geopolitical Tension Mounting

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Map Source: http://news.bbc.co.uk/2/hi/middle_east/5195068.stm

A wave of uprising appears to be moving across the regions of Africa and the Middle East. The political unrest that started last month in Tunisia and resulted in the ousting of President Zine el-Abidine Ben Ali has now spread across the countries of Egypt, Jordan, Yemen, Algeria and Syria.

On Wednesday, the Egyptian President Mubarak agreed to step down this fall. However tensions are escalating and it is likely he will cede power much sooner. In a response to mounting…
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EIA’s Annual Energy Outlook 2011

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The EIA released its Early Release of the Annual Energy Outlook for 2011 (AEO2011) last week. This annual report examines energy market trends and potential directions they may take in the future.  Highlights from the report include:

Expectations for higher shale gas resources

EIA expects shale production to increase as a result of  an increased estimate of natural gas resources.   Larger resources lead to about double the shale gas production than was projected in 2010. Continued increases in shale gas are expected to offset declines in other sources of U.S. supply and help to meet consumption growth into 2035 (Figure 1).


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