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• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery rose $1.62 to $73.81 per barrel Friday. Brent crude for March delivery rose $1.17 to $78.76 per barrel.
  
  Wholesale gasoline for February delivery was unchanged at $2.11 a gallon. February heating oil rose 2 cents to $2.61 a gallon. February natural gas rose 7 cents to $2.89 per 1,000 cubic feet.
  
  
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• U.S. stocks finish higher but snap nine straight weeks of gains
  U.S. stocks finished slightly higher on Friday but ended a nine-week...
  U.S. stocks finished slightly higher on Friday but ended a nine-week winning streak after investors weighed a stronger-than-expected jobs report.
  

  
  
  • The Dow Jones Industrial Average rose 25.77 points, 0.1%, to close at 37,466.11, booking back-to-back gains.
  
  
  • The S&P 500 gained 8.56 points, or 0.2%, to finish at 4,697.24, snapping four straight days of declines.
  
  
  • The Nasdaq Composite edged up 13.77 points, or 0.1%, to end at 14,524.07, ending a five-day losing streak.
  
  
  • For the week, the Dow fell 0.6%, the S&P shed 1.5% and the Nasdaq dropped 3.2%, according to Dow Jones Market Data. All three major indexes snapped nine straight weeks of gains.
  
  
  • In the bond market, Treasury yields rose on Friday. The yield on the 10-year Treasury note climbed 5.1 basis points to 4.041%, the highest rate since Dec. 12 based on 3 p.m. Eastern Time levels, according to Dow Jones Market Data.
  
  

  
  
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• Cedar LNG Awards Contract For State-Of-The-Art Floating LNG Unit
  The Cedar LNG project, a landmark development...

  The Cedar LNG project, a landmark development in the LNG industry, has recently appointed Samsung Heavy Industries and Black & Veatch for the engineering, procurement, and construction of its floating LNG production unit in Kitimat, Canada. This project is significant as it's the world's first Indigenous majority-owned LNG project, a collaboration between the Haisla Nation and Pembina Pipeline Corporation. It aims to export three million tonnes of LNG annually, utilizing Canada’s sustainable natural gas supply from the Coastal GasLink pipeline.

  
  

  Cedar LNG is designed to be one of the lowest-emitting LNG facilities globally, with a focus on minimizing environmental impact. The facility will be powered by renewable electricity from BCHydro, aligning with the project's commitment to sustainable and low-carbon LNG production. With major regulatory approvals and memorandums of understanding in place for its total liquefaction capacity, Cedar LNG is progressing toward a final investment decision expected by the end of the first quarter of 2024

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• Saturn Drills Its First OHML Bakken Wells
  Saturn Oil & Gas Inc.'s first Open Hole...

  Saturn Oil & Gas Inc.'s first Open Hole Multi-Lateral (OHML) Bakken well in Southeast Saskatchewan showcased impressive results, with initial production significantly exceeding expectations. The well, drilled with eight open hole, and unstimulated lateral legs, achieved an initial 30-day average production of approximately 233 barrels per day of light oil.

  
  

  This performance, 49% above the company's expected production curves, demonstrates the effectiveness of OHML drilling. These wells have smaller surface footprints and require less water compared to conventional techniques, enhancing their economic viability. Following this success, Saturn has identified up to 100 OHML drilling locations in the area, suggesting a potential for significant expansion and development in this region

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• Average U.S. Natural Gas Prices Plunge by 62% in 2023
  The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu...

  The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu in 2023, was a result of a unique combination of factors. Record-high natural gas production, primarily in the Permian, Haynesville, and Appalachia regions, significantly outpaced growth in consumption, leading to this price drop.

  
  

  Production levels also reached an all-time high of 104 billion cubic feet per day, 4% higher than the previous year. In contrast, demand only saw a 3% increase due to higher exports and a slight rise in natural gas used for electricity generation.

  
  

  Mild winter temperatures, particularly in January and February, also played a role, leading to reduced consumption in the residential and commercial sectors and the lowest total U.S. natural gas consumption for these months in seven years

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