US natural gas inventories slip less than expected but price surge continues
US natural gas in storage dropped by less than expected in what might be the final draw of the heating...
US natural gas in storage dropped by less than expected in what might be the final draw of the heating season, yet Henry Hub futures continue to build on recent gains as the summer and winter strips sail higher above $5/MMBtu.
Storage fields withdrew 51 Bcf for the week ended March 18, according to data released by the US Energy Information Administration on March 24.
Working gas inventories decreased to 1.389 Tcf. US storage volumes now stand 366 Bcf less than the year-ago level of 1.784 Tcf and 293 Bcf less than the five-year average of 1.744 Tcf.
🔥From Twitter: Methane leaks in New Mexico may be worse than we thought
Startlingly large amounts of methane...
Startlingly large amounts of methane are leaking from wells and pipelines in New Mexico, according to a new analysis of aerial data, suggesting that the oil and gas industry may be contributing more to climate change than was previously known. https://t.co/DWAFAdgX85
Tulsans Create New Method To Seal Abandoned Oil Wells, Limit Pollution
Craig Brown and Ann Copple of Tulsa, Okla., have a new method to limit pollution by sealing abandoned...
Craig Brown and Ann Copple of Tulsa, Okla., have a new method to limit pollution by sealing abandoned oil and gas wells with a brass hydraulic compression seal. Brown believes the method, which costs $10,000 and takes about three hours, could work nationwide to reduce methane gas emissions in the millions of abandoned wells.
Frac sand inflation leads to reduced oil production
Nearly a month on, crude oil is trading at over $110 per...
Nearly a month on, crude oil is trading at over $110 per barrel, a price which has historically motivated oil companies to ramp up production, but the output of US drillers doesn't appear to have moved significantly.
One of the key reasons actually predates the war in Ukraine: the special sand required for hydraulic fracturing (frac sand) in shale oil production has gotten a lot more expensive
That material now costs between $40 and $45 per ton, Rystad Energy analyst Ryan Hassler told Axios — nearly 185% higher than last year. Two years ago, sand prices were in the teens.
Chesapeake Energy Corp. is seeking to become more involved in the growing LNG market, CEO Nick Dell’Osso said on March 23 at the Scotia Howard Weil Energy Conference.
“We’re really optimistic that we'll have something to talk about there at some point, ideally this year,” Dell’Osso said, referring to LNG.
Demand for U.S. LNG has increased with Russia's invasion of Ukraine in February and Europe looking to replenish dwindling inventories.
