Articles tagged matterhorn express pipeline

Prompt month natural gas futures rose for a second day on Friday, supported by tight market balances and another storm threat to offshore gas supply possibly arriving next week.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 58 Bcf natural gas into storage for the week ended Sept. 13. The result, above median expectations, initially sent futures lower.

Benchmark natural gas spot prices are projected to remain relatively flat during the fall shoulder season before strengthening in 2025 as LNG exports outpace supply growth, according to updated federal forecasts.

The Matterhorn Express Pipeline has started initial flows from the Permian Basin, adding 2.5 Bcf/d of natural gas takeaway capacity and setting the stage for relieving a supply glut that has sent Waha prices below zero since the spring.

Natural gas forward prices firmed up at the front of the curve, with some of the biggest moves in Texas upstream and downstream of a massive new pipeline in the early stages of startup, NGI’s Forward Look data show.

Baseload natural gas prices declined on the first day of September bidweek trading on Monday, led lower by prices in West Texas sinking below zero.

Blistering heat through much of the summer and limited supply flowing west from the Permian Basin kept storage injections in the Pacific region in check, helping to dramatically dwindle a once-massive surplus of natural gas.

Permian Basin benchmark Waha cash prices, mired in a protracted slump amid limited natural gas takeaway capacity and a supply glut, may see the summer come and go without relief. But a massive new pipeline is slated to enter service this fall, promising to free up an abundance of associated gas and ease pricing pressure.

Diamondback Energy Inc. is aiming to capture more value from the immense volumes of associated natural gas it produces as a byproduct of oil extraction in the Permian Basin, according to management.

Devon Energy Corp. expects its Permian Basin natural gas production to increase along with its exposure to premium Gulf Coast pricing once the Matterhorn Express and Blackcomb pipelines enter service, according to management.