Markets

Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…

LNG

NO. 1: Feed gas deliveries to U.S. LNG export plants ticked back up on Thursday after recent downturns as maintenance season gets underway. Overall, U.S. feed gas demand was nominated at 10.8 Bcf, up 5% from Wednesday. Nominations for the Freeport liquefied natural gas export terminal in Texas on Thursday were at 276 MMcf, or…

E&P

ExxonMobil keeps powering ahead in its offshore Guyana program even as a contract dispute and geopolitical tensions cast a shadow over the oil-rich project. The company made a final investment decision for the Whiptail development, its sixth project on the offshore Stabroek block. It has the necessary approvals in place and the offshore platform is…

Regulatory

The Biden administration earlier this month finalized revamped onshore natural gas and oil leasing rules, increasing the royalty rates and, for the first time in 60 years, bumping up the cost for bonding requirements. The Department of Interior’s Fluid Mineral Leases and Leasing Process final rule revised regulations under the purview of the Bureau of…