(Oil Price) – The EU’s natural gas storage is already at 95% full, data from Gas Infrastructure Europe show, after the bloc reached in August its target to have 90% full storage well ahead of its self-imposed binding deadline, November 1. In the middle of August, the EU reached its target of filling gas storage facilities to 90% of capacity 10 weeks ahead of
(Oil & Gas 360) – The seemingly unending downward pressure on domestic natural gas prices isn’t getting much relief, given October storage numbers, according to the Energy Information Administration (EIA). October is routinely known as the start of injection season for increasing natural gas inventories ahead of winter. The agency shows current storage to be over 175 billion cubic feet (BCF)
(Oil Price) – Despite a slight uptick in industrial consumption of natural gas this year, Europe’s heavy industry is likely to return to curtailing gas use next year amid a tighter gas market and higher prices, analysts and industry officials have told Bloomberg. Since the 2022 energy crisis, European industry has been squeezed amid sky-high energy costs and weak industrial demand in weakening economies.
(Oil Price) – TotalEnergies on Friday announced a deal to buy a 45% stake in dry gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas, growing its gas production business and boosting its LNG portfolio. The assets that TotalEnergies is buying are located in Southwest Texas and have the potential to be developed to reach a
(Oil & Gas 360) DENVER, September 25, 2024 – BKV Corporation (“BKV”) today announced the pricing of its initial public offering of 15,000,000 shares of its common stock at $18.00 per share. The underwriters will have a 30-day option to purchase an additional 2,250,000 shares from BKV at the initial public offering price, less underwriting discounts and commissions. The shares will begin
(BOE Report) – U.S. energy company EQT plans to reverse some natural gas production curtailments in October and November as demand for the fuel and prices increase, CEO Toby Rice told Reuters on Wednesday. EQT, the biggest U.S. natural gas producer, has along with other U.S. drillers curtailed output in 2024 after prices collapsed to multi-year lows in the spring
World Oil (Bloomberg) – Diamondback Energy Inc., one of the Permian basin’s biggest oil companies, is considering using some of the natural gas it produces to generate electricity to run drilling and fracing operations. Permian producers have increasingly shifted operations from diesel generators to electricity supplied by the local power grid. But the Texas grid can be unreliable at times,
