I read with great interest a report from Bernstein Research. The report was issued November 2007, but I just got the chance to look at it in detail. Bernstein analysts Ben Dell, Amanda Goller and Scott Gruber put together the piece. They concluded that in the near- to medium term, natural gas supply would be in excess of demand in U.S. markets. Prices may be pushed down by an abundance of gas. Where is all this gas coming from? Texas, Wyoming and Oklahoma, mainly. These states have robust growth in gas production and lead an onshore revival. Growth in onshore gas--most of it flowing from unconventional reservoirs--is so strong that it should more than compensate for declining offshore and Canadian volumes. LNG imports are also booming. Bernstein reported that LNG imports to the U.S. were 3 Bcfpd in 2007, up strongly from prior-year levels. The upshot? U.S. supply will be 66.1 Bcfpd in 2008, and demand will be 65.8 Bcfpd, predicted Bernstein. A few years ago, who would have thought this was even possible? --by Peggy Williams, Senior Exploration Editor, Oil and Gas Investor. Contact me at email@example.com
2023-11-27 - U.S. natural gas futures fell to a two-month low on Nov. 27, weighed down by record output while mild weather limited heating demand.
2023-11-01 - The Energy Information Administration also reported that gas production in the Lower 48 also set a record.
2023-10-17 - Analysts expect domestic market and activity to remain steady as the Energy Information Administration reports record U.S. production.
2023-10-02 - For the upcoming week, Stratas Advisors predicts oil prices will have a downward bias, in part because of concerns about economic growth and oil demand.
2023-10-24 - CNOOC updated up its 2023 capital spending to build new production capacities after reporting a fall in third quarter profits due to lower realized oil prices.