- 34695, 1,601, CLR, Rolf 6-17H1, Brooklyn, t4/19; cum --;
- 32208, 145, BR, CCU Atlantic Express 32-19MBH, Corral Creek, t5/19; cum --;
- 34696, 1,324, CLR, Rolf 5-17H1, Brooklyn, t4/19; cum 17K after 13 days;
- 34693, 1,376, CLR, Springfield 3-8H1, Brooklyn, t3/19; cum 40K 42 days;
- 34088, 645, Oasis, Aagvik 5298 13-26 10T, Banks, t1/19; cum 106K 4/19;
- 30031, SI/NC, Hess, BB-Federal-151-95-0817H-2, Blue Buttes, no production data,
- 34805, 878, Nine Point Energy, Erickson 155-102-26-25-8H, Squires, t12/18; cum 103K 4/19;
- 34694, 2,006, CLR, Springfield 2-8HSL, Brooklyn, t2/19; cum 68K 4/19;
- 32207, 164, BR, CCU Atlantic Express 32-19TFH, Corral Creek, t5/19; cum --;
- 32206, 232, BR, CCU Pacific Express 32-19MBH, Corral Creek, t4/19; cum --;
- 30030, SI/NC, Hess, BB-Federal-151-95-0817H-3, Blue Buttes, no production data,
$54.25 | 6/10/2019 | 06/10/2018 | 06/10/2017 | 06/10/2016 | 06/10/2015 |
---|---|---|---|---|---|
Active Rigs | 64 | 61 | 52 | 28 | 82 |
RBN Energy: from $200/MMBtu to $1/MMBtu gas, PNW market volatility continues. PNW: Pacific Northwest.
Three months ago, the Pacific Northwest natural gas market recorded the highest trade in U.S. spot gas price history. The region at the time was dealing with extreme winter heating demand, a pipeline outage that limited access to gas supply and storage deliverability issues –– all of which were compounding constraints in the power markets. The result was a feeding frenzy that led gas prices to skyrocket to as much as $200/MMBtu at the Sumas, WA, hub on March 1. Fast forward to today — prices there have crumbled, falling to as low as $0.80/MMBtu in trading last week. Winter demand has dissipated, pipeline and storage constraints have eased, and the region is now dealing with an entirely different — even opposite — set of problems. Today, we take a closer look at the factors behind these latest price moves.
The winter 2018-19 natural gas market was one of the most chaotic in recent memory, with the NYMEX Henry Hub futures contract swinging from nearly $5/MMBtu in November 2018 to less than $2.60/MMBtu a few months later. The physical market also posted both the highest and lowest spot trades ever seen in the U.S.: the $200/MMBtu at Sumas, WA, (again, on March 1) and a negative-$9.00/MMBtu at Waha in the Permian on April 4.
The Waha market, which, after recovering from record low, negative prices and treading above zero earlier in May, again plunged into negative territory in the last week of May. The Sumas market too has seen its share of angst in recent weeks, which is the focus of today’s discussion.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.