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Canada’s Enbridge back in black in Q1 May 7, 2021 5:10:pm Summary by: Dale Lunan Posted in: Canada’s Enbridge back in black in Q1 Canadian energy infrastructure company Enbridge said May 7 it had reversed last year’s first quarter loss of C$1.4bn (US$1.15bn) with GAAP earnings of C$1.9bn in Q1 2021. Earnings last year were negatively impacted by a C$1.3bn after-tax impairment on the carrying value of Enbridge’s investment in DCP Midstream and by a C$1.5bn after-tax non-cash loss on the mark-to-market value of financial derivatives used to manage foreign exchange risk. Adjusted earning...

The US oil and gas rig count climbed eight to 538 in the week ended April 28, rig data provider Enverus said, as the number of active gas rigs hit a one year high.

May Nymex Natural Gas Expires Higher on Warming Temperatures, Strong Exports BREAKING: U.S. EIA reports a 15 Bcf injection into storage inventories for the week ending April 23 Natural gas futures strengthen again as tight balances continue Cash notches more gains Part of a broad move higher across commodities, natural gas futures recorded a third straight day of gains despite an uptick in production and moderate weather outlooks. The May Nymex gas futures contract rolled off the board at $2.925, up 5.2 cents from Tuesday’s close. June, which takes over the prompt-month position on Thursday...

No ‘Excitement’ Needed as May Nymex Natural Gas Contract Expires Above $2.90 Part of a broad move higher across commodities, natural gas futures recorded a third straight day of gains despite an uptick in production and moderate weather outlooks. The May Nymex gas futures contract rolled off the board at $2.925, up 5.2 cents from Tuesday’s close. June, which takes over the prompt-month position on Thursday, climbed 1.8 cents to $2.96. Spot gas prices also remained firm as warmer weather on the East Coast appears to be driving some early-season cooling demand. NGI’s Spot Gas National A...

Texas Gulf Coast Price Premiums To Endure As Gas Exports Tighten Regional Market Balance Surging natural gas export demand from Mexico and from the Gulf Coast LNG terminals is tightening the supply balance in East and South Texas recently as it promises to convert the region into a premium basis market. In April, exports to Mexico are averaging their highest level on record at over 6.1 Bcf/d. Feedgas deliveries to terminals in Texas and Louisiana, meanwhile, are setting their own record high this month, averaging over 10.5 Bcf/d. As overseas demand for Gulf Coast supply surges, basis prices i...