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Oil, Gas, And Fracking News Reads: 24January 2021


The natural gas storage report from the EIA for the week ending January 15th indicated that the amount of natural gas held in underground storage in the US fell by 187 billion cubic feet to 3,009 billion cubic feet by the end of the week, which left our gas supplies just 36 billion cubic feet, or 1.2% higher than the 3,045 billion cubic feet that were in storage on January 15th of last year, but still 198 billion cubic feet, or 7.0% above the five-year average of 2,811 billion cubic feet of natural gas that have been in storage as of the 15th of January in recent years..the 187 billion cubic feet that were drawn out of US natural gas storage this week was 10 billion cubic feet more than the average forecast of a 177 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, and way more than the 97 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, as well as more than the average withdrawal of 167 billion ....

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Share of gas flared in the Permian has fallen to its lowest level of the Shale era


Share of gas flared in the Permian has fallen to its lowest level of the Shale era
January 16, 2021
OSLO The share of gross gas output that is flared at the wellhead in the US’s prolific Permian Basin has plummeted to a modern Shale-era record low, a Rystad Energy report shows, with an analysis of preliminary data suggesting only 1.6% of the basin’s gas production was flared in the fourth quarter of 2020.
The absolute amount of the flared gas likely averaged at around 390 million cubic feet per day (MMcfd) in the last three months of the year.
The basin’s wellhead flaring intensity declined to 1.6%, down from 1.7% in the third quarter of 2020. New Mexico’s Delaware North is the only major sub-basin, which saw a sequential increase in flaring in the fourth quarter, but it is also the region with the lowest flaring intensity among the play’s major sub-basins. It is also currently the one with the most signif ....

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