Can natural gas prices rise even in a generational downturn like the COVID-19 situation? Analysts including the U.S. Energy Information Administration (EIA) feel that prices were already so low that they had nowhere to go but up anyway. In the Permian Basin in particular, gas prices were artificially low due to takeaway constraints. Such constraints […]
San Antonio companies secure funding for U.S.-Mexico projects
San Antonio companies Mirage Energy and Northern Hemisphere Logistics said June 17 they secured funding from Bluebell International for development of natural gas pipelines from Texas to Mexico, 786 bcf of underground storage and the Isthmus corridor liquids transportation project. The announcement said Mirage’s natural gas storage facility will be “the largest natural gas storage […]
Texas LNG receives TCEQ permit for export terminal
Houston-based Texas LNG received a state permit last week for its proposed export terminal at Port of Brownsville. Houston Chronicle said the permit received May 6 from Texas Commission on Environmental Quality had “stricter air pollution standards than the company had previously proposed.” The permit authorizes Texas LNG to produce up to four million metric […]
The Ones in the Middle
With the slowdown in drilling due to several issues, including quarantines related to the coronavirus, combined with frantic construction of pipelines over the last four years, pipeline shortages may soon be over. A trade agreement with China, which had promised to jumpstart petroleum exports to that country, has been dampened by that same virus due […]
Production of oil, gas to decline in each of seven major regions in May
U.S. Department of Energy forecasts declining production for both crude oil and natural gas in each of the seven major regions in May as supply continues to outpace demand and storage capacity amid the global coronavirus pandemic. Oil production is expected to decline by 183,000 barrels per day in May compared to April to 8.526 […]
A Brightening Picture For Gas
With prices up, Basin natural gas production sees new life. By Paul Wiseman, special contributor Discussing natural gas in the Permian Basin is somewhat like talking about Pippa Middleton—a lovely idea but not really the main attraction. The three Texas Railroad Commission districts that primarily identify the Basin—7C, 08 and 8A—accounted for 441.1 thousand MCF […]