Here are some selected news articles from the week ended 17 July 2021. Part 2 is available here.
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Global Economic Intersection every Monday evening or Tuesday morning.
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Natural gas rigs at 15 mo high as prices hit 30 mo high; global oil shortage at 830,000 bpd; DUC backlog at 7.6 months
Natural gas prices ended the week unchanged as strong export demand offset cooler weather and a bearish storage report..after slipping 0.7% to $3.674 per mmBTU last week as weather forecasts moderated over the major gas consuming regions, the contract price of natural gas for August delivery jumped 7.5 cents, or more than 2%,
EnLink Eyeing CCUS in Louisiana, Boosting Guidance on Stronger Natural Gas, Oil Prices
Dallas-based EnLink Midstream LLC has increased its earnings guidance for 2021 amid strengthening natural gas and oil prices, with an eye on expanding operations and lowering carbon emissions.
“We are pursuing exciting growth opportunities in the Permian and Louisiana, as well as experiencing improved activity in Oklahoma and North Texas,” CEO Barry E. Davis said. “Coupled with our commitment to capital efficiency and execution excellence, these opportunities have resulted in a substantial increase” to expected free cash flow (FCF) and profits.
EnLink also is continuing to “benefit from a supportive commodity price environment and a ramp-up of producer activity,” Davis noted.
NGL Energy Partners LP, which transports oil and also treats, recycles and disposes of water generated as part of the energy production process – said it