Natural gas futures prices sold off again Friday to cap off a decidedly bearish week, with the latest forecasts not promising enough summer cooling demand to appease a well-supplied market. With the intense and widespread heat expected to subside after the weekend, spot prices sold off throughout the Lower 48; the NGI Spot Gas National Avg. tumbled 16.5 cents to $2.010/MMBtu.
Former WildHorse Resource Development Corp. executives have landed more than $1 billion in private equity financing to form a new company that would acquire underdeveloped oil and natural gas assets across the Lower 48.
The U.S. natural gas rig count picked up two units to finish at 174 for the week ended July 19, though a slowdown in the oil patch drove the overall domestic count lower, according to data from Baker Hughes, a GE Company.
Range Resources Corp. said Friday that it has agreed to sell a 2% overriding royalty interest in 350,000 net surface acres in its core area of southwest Pennsylvania to undisclosed parties for $600 million.
U.S. natural gas forward prices continued on the wild ride they’ve been on the last few weeks, posting steep losses -- one week after putting up equally sharp gains -- as weather models that had called for scorching temperatures throughout most of July had begun to cool.
Environmental groups have embarked on a complex effort at various state and federal agencies to stop an affiliate of New Fortress Energy LLC from developing a small-scale natural gas export terminal in New Jersey along the Delaware River.