Industry Guides & How-To Resources with specific types of property or business. Check our valuable guides on this page today at Ranger Land & Minerals.

Natural Gas Prices to Rise on Higher Global Demand

Natural gas prices to rise and have continued to witness selling pressure despite higher demand for cleaner gas.

Precious metal prices continued their buying spree for the third straight week with Comex Gold.

Record high production and rising inventory made the natural gas prices test the lows of 2016.

But cyclically, rising natural gas prices are required to keep the current pace of higher supply to fulfill the rising global demand in 2020.

We expect MCX Natural gas prices to remain supported at Rs 150 per MMBtu and extend the rally towards Rs 175 per MMbtu in the very short term.

Global natural gas prices tumbled in the second half of 2022, from the heights reached in August. Unseasonably warm weather, improved energy efficiency, and behavioral changes in gas consumption contributed to the decline. A reduction in Russian natural gas production and exports to Europe took place and shifting LNG trade helped fill the gap in European supply. Lower demand and strong LNG inflows resulted in European natural gas inventories being at a record high for this time of the year. The outlook for 2023 will depend on the speed of China’s reopening as well as the LNG market dynamics.

Read the full article here
Source: moneycontrol.com

If you have further questions related to the natural gas prices and for them to rise, feel free to reach out to us here.

Natural Gas Price Gains Kept in Check by Soaring Production

The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected increase in natural gas price and supplies and .

Stockpiles held in underground storage in the lower 48 states rose by 49 billion cubic feet (Bcf) for the week ended Aug 9.

below the guidance (of 54 Bcf gain). However, the increase was higher than last year’s increase of 35 Bcf for the reported week and is in line with the five-year (2014-2018) average net injection.

The latest rise in inventories puts total natural gas stocks at 2.738 trillion cubic feet (Tcf) – 357 Bcf (15%) above 2018 levels at this time but 111 Bcf (3.9%) under the five-year average.

Fundamentally speaking, the total supply of natural gas averaged 96 Bcf per day, unchanged on a weekly basis as dry production remained flat. Daily consumption also remained essentially flat at 86.6 Bcf with 86.8 Bcf in the previous week on static power generation demand.

Prices Edge Up

The natural gas futures market rose following the smaller-than-expected climb in U.S. supplies, with the commodity posting a 3.8% weekly gain and erasing some of the steep losses that have taken it to lows not seen since May 2016 earlier this month. Weather forecasting models predicting hot temperatures in certain regions of the Lower 48 U.S. states that would drive up the air conditioning demand for natural gas also helped lift prices higher

Read the full articles here
Source: Finance.Yahoo.com

If you have further questions related to natural gas price, reach out to us here.

Gas Tax Revenues

Is It Too Late for Colorado to Capture Billions of Dollars in Oil and Gas Tax Revenues in a Permanent Fund?

The production in the Bakken Formation raced upward to nearly half a billion barrels last year. Will this affect the oil & gas tax revenues?

The trust fund’s balance is expected to more than double over the next decade — to nearly $15 billion.

Three years before voters in North Dakota went to the polls. A committee of 11 Colorado state lawmakers is convening to take a look at how severance taxes were allocated in the Centennial State. After a half dozen meetings and a couple of field trips to mineral-rich Rio Blanco and Garfield counties, the group came to the conclusion that it would behoove Colorado to create a permanent trust fund “as a resource in the future when the mineral extraction industry declines.”

“Interest from a trust fund could also be used to provide additional resources for higher education to educate the state’s workforce,” the committee wrote in its 2007 report.

Fast forward to 2019 … and Colorado still has no permanent trust fund.

The taxes from the state’s oil and gas fields are going annually to water projects. This also includes natural resource management efforts and local communities. They are those who are experiencing the impact by oil and gas activity. Nothing is saved in the way North Dakota, Wyoming, and New Mexico. Those that are non-energy-producing states are salting away money for the future.

Read the full article here
Source: DenverPost.com

If you have further questions about oil and gas tax revenues, feel free to reach out to us here.

 

U.S. Energy Policy Must Support Natural Gas In Appalachia And West Texas

The US Energy Policy. Appalachia and the Permian are the main reasons why U.S. C02 emissions have been falling faster than any other nation.

Gas usage increases even under the most stringent of environmental policies under International Energy Agency modeling.

President Trump’s visit on Tuesday to the Shell “cracker” plant. In Beaver County outside the great city of Pittsburgh really got my wheels turning.

It’s a giant of a project: a $6 billion, 7,400 permanent jobs-creating, industrial facility that will convert ethane from flowing shale gas from the region into ethylene, the basic building blocks for plastic manufacturing. It’s the first U.S. cracker outside the Gulf Coast region in over two decades. And it shows how quickly the U.S. shale revolution since 2008 has transformed domestic and global energy markets, with always improving technologies and operational efficiencies surpassing all expectations.

Today, thanks to the Utica and Marcellus shale plays, Appalachia (PA, OH, WV) produces a whopping 33 Bcf/d or 37% of total U.S. gas supply. In fact, the triad now produces nearly 10% of the world’s gas, more than any other nation except the U.S. as a whole and Russia. Explaining Trump’s visit: “Pennsylvania As The New Natural Gas Giant.”

 

 

Read the full article here
Source: Forbes.com

 

If you have further questions related to the US Energy topic, feel free to reach out to us here.

Natural Gas Price Prediction – Prices Whipsaw but Remain Buoy on Strong LNG Deliveries

Natural gas price prediction whipsawed testing lower levels and then rebounding to close up 0.5% in the trading session.

Natural gas delivery to LNG facilities hit a record in July.

Natural gas delivered by pipelines to Mexico and to US LNG export facilities reached 10.9 Bcf per day in July. On average 10.0 Bcf per day in the first seven months of this year. This is 30% more than in the same period in 2018.

Technical Analysis and Natural Gas Price Prediction

Natural gas prices initially moved lower but bounced on Monday near support at the 10-day moving average of 2.15. Resistance is seen near last week’s highs at 2.27 and then the August highs at 2.33. Medium-term momentum is positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward-sloping trajectory which points to higher prices. Short-term momentum is flat as the fast stochastic consolidates, in the middle of the neutral range which reflects consolidation.

LNG Deliveries Hit Record

The EIA reports that natural gas deliveries to US facilities producing liquefied natural gas for export set a monthly record in July 2019, averaging 6.0 billion cubic feet per day which accounts for 7% of the total US dry natural gas production. In the first seven months of 2019, natural gas feedstock deliveries to LNG export facilities have been the fastest growing among all US natural gas consumption sectors. Natural gas delivered by pipelines to Mexico and to US LNG export facilities reached 10.9 Bcf per day in July and averaged 10.0 Bcf per day in the first seven months of this year, 30% more than in the same period of 2018.

Read the full article here
Source: FXempire.com

If you have further questions related to natural gas price prediction, feel free to reach out to us here.

Ranger Land and Minerals can further support you today.

 

Oil Prices Climb After Saudi Oilfield Attack

Crude oil prices climb on Monday following a weekend attack on a Saudi oil facility by Yemeni.

The oil market was jolted in mid-September 2019 following a drone attack on Saudi Arabia’s oil processing facilities. The attacks, which were claimed by Iranian-backed Houthi rebels from Yemen, caused widespread damage and panic across the industry.

The Abqaiq oil facility and Khurais oil field attack was one one of the most significant oil supply disruptions in history. It affected almost 5% of the global oil supply. The following day, the oil market reacted with a significant surge in oil prices. This is as traders scrambled to cover their positions.

The global benchmark for crude oil, Brent, surged by over 14%. Meanwhile the US benchmark, West Texas Intermediate (WTI), jumped 15%. As the world’s largest oil exporter, Saudi Arabia’s production cuts led to a sudden tightening of oil supplies, causing a ripple effect across the industry.

This blog post will examine the impact of the attack on the oil market, including the surge in oil prices and more.

Brent crude was up 64 cents, or about 1.1 percent, at $59.28 a barrel at 0255 GMT, and US crude was up 55 cents, or 1 percent, at $55.42 a barrel.

Read the full article here
Source: TheHinduBusinessLine.com

If you have further questions related to any oil prices climb trend, feel free to reach out to us here.

 

Yemen rebel drone attack targets remote Saudi oil field

DUBAI, United Arab Emirates — Drones launched by Yemen’s Houthi rebels attacked a massive oil and gas field deep inside Saudi Arabia.

The attack on the Shaybah oil field, which produces some 1 million barrels of crude oil a day near the kingdom’s border with the United Arab Emirates

 

 

Read the full article here
Source: The Washington Post

Oil steadies as Saudi, Kuwait signals offset demand fears

Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies.

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have agreed to cut 1.2 million barrels per day (bpd) since Jan. 1.

He said fears of a global economic downturn were “exaggerated,” and said global demand for crude should pick up in the second half, helping reduce the surplus in oil inventories gradually.

 

 

Read the full article here
Source: REUTERS.COM

Occidental Petroleum and Columbia Ecopetrol form $1.5 Billion Joint Venture

Occidental Petroleum and Colombia’s Ecopetrol have announced a $1.5 billion joint venture to develop acreage in the Midland Basin.

The joint venture is comprised of 97,000 net acres of Occidental’s holdings. This is across Andrews, Ector, Glasscock, Howard, Martin, Midland, Reagan, and Upton counties.

The acreage includes 4,700 gross locations with rights to multiple benches. It includes the Middle and Lower Spraberry and the Wolfcamp A, B, and C.

Ecopetrol will pay $750 million in cash at closing. This is an expectation in the fourth quarter, and $750 million in capital during the joint development period. Ecopetrol put at the next five years during its presentation to investors.

Occidental will have 51 percent ownership percent of the joint venture and Ecopetrol 49 percent. The joint venture does not include Occidental’s existing wells. This is why Occidental will continue to operate the acreage. During the joint development period, Ecopetrol will pay 75 percent of Occidental’s share of capital expenditures. From there, Occidental will receive 51 percent of the joint venture’s production.

Vicki Hollub, president and chief executive officer, told investors the joint venture is an opportunity to develop its Midland Basin assets. This is during the Occidental’s second-quarter earnings call. Meanwhile, it is also focusing on its Delaware Basin assets.

Read the full article here
Source: mrt.com

If you have further questions related to Occidental Petroleum and more, feel free to reach out to us here. 

Oil prices rise on expectations of more OPEC output cuts

Saudi Arabia has said it planned to maintain its crude oil exports below 7 million barrels per day in August and September to bring the market back to balance and help absorb global oil inventories

The United Arab Emirates also will continue to support actions to balance the oil market, the country’s energy minister Suhail Al-Mazrouei said.

 

 

Read the full article here
Source: ARABNEWS.COM