In The News

Tuesday, 04/20/2021

April 18, 2021 – CBC

One year after crude turned negative, oilpatch relishes first-quarter profit outlook

The Canadian Press

On April 20, 2020, the U.S. benchmark West Texas Intermediate near-month contract price ended the day down a whopping $55.90 US at an unprecedented -$37.63 per barrel.

The negative close was caused by a mix of technical commodities market factors and concerns about oversupply as storage tanks grew dangerously close to full amid a collapse in demand fuelled by pandemic lockdowns and short-lived price war between...

Tuesday, 04/20/2021

April 15, 2021 – Natural Gas Intelligence

April Chills Bring Shoulder Season Gains for Natural Gas Forward Prices

By: JEREMIAH SHELOR

U.S. LNG feed gas demand has held steady at record levels around 11 Bcf/d for the last few weeks, RBN Energy LLC analyst Lindsay Schneider said in a recent blog post.

“With Train 3 at Cheniere Energy’s Corpus Christi Liquefaction facility online and price spreads to global markets favorable for U.S. exports, that’s where it’s likely to stay, except for maintenance periods — at least until...

Tuesday, 04/20/2021

April 8, 2021 – S&P Global Platts

US oil, gas rig count jumps 9 to 528, with activity hike in smaller basins: Enverus

By: Starr Spencer

Overall, 2021 looks "very good" for US E&P companies, said Nicholas Cacchione, an analyst with consultancy RBN Energy.

"With the economy expected in recovery mode and travel poised to rebound, futures markets are indicating that oil and gas prices will remain strong throughout the rest of the year," Cacchione said in an April 7 industry note.

Cacchione expects E&P...

Wednesday, 03/24/2021

March 18, 2021 – Natural Gas Intelligence

Despite LNG Staying Power, Natural Gas Futures Extend Downward Slide Following Bearish EIA Inventory Report

By: Kevin Dobbs

As winter-driven Asian demand for U.S. exports begins to lighten, European Union (EU) natural gas storage inventories began rapidly drawing down. Analysts say that trend could power American exporters well into the spring months.

As of mid-March, there was 361 TWh of natural gas in storage in the EU, representing 32.5% of the region’s capacity, according to NGI data. That is...

Wednesday, 03/24/2021

March 18, 2021 – Seeking Alpha

Good News For Western Canada: Excess Pipeline Capacity By 2023

By: Josh Young

Western Canadian oil production was hit hard last year, reaching a low of 3.36 MMbbl/d in May of 2020. However, recent reports show the region has recovered to pre-pandemic production levels and most forecasts expect to see production reach all-time highs soon. A January 2021 RBN Energy report...

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