Sean Dookie’s Post

🔥 Energy Market Update - April 23, 2024 📈 Today's NYMEX natural gas rates opened at $1.79, hitting a high of $1.80 and a low of $1.74, currently stabilizing at $1.778. This represents a week-on-week increase of $0.05, though prices have fallen by $0.45 compared to last year. 🔮 Future Outlook: 2024: Projected at $2.53 2025: Forecasted to rise to $3.52 2026: Expected to reach $3.97 📊 The market is currently trading above its 50-day ($1.74), 20-day ($1.77), and 9-day ($1.75) averages. Resistance is forming at $1.84 and $1.90, with support beginning at $1.74. 🌎 Global Impact: LNG Exports: Robust at 10.9 Bcf Renewables: A 50% increase in capacity in 2023, driven largely by China, setting renewables on a path to surpass coal by 2025. 🛢️ Crude Reality: Prices have dipped to $81.94, with future estimates predicting a downward trend. 💡 California's Energy Scene: Retail power is priced just over $21 per MWh. Significant movements in the carbon offsets market are expected, particularly from Africa, enhancing our clean energy footprint. 🌡️ Weather Watch: Cooler temps persist, but a warming trend is on the horizon, with bullish weather forecasts extending into the summer. 📉 Storage Surplus: U.S. natural gas storage is 39% above the five-year average, providing a cushion against potential price increases. #EnergyMarket #NaturalGas #RenewableEnergy #MarketTrends #InvestmentOpportunities #EnergyStorage

Energy Market Update - April 19, 2024 In today’s dynamic energy market, here are the critical figures and trends impacting the industry: NYMEX Natural Gas Pricing: Today's Performance: Opened at $1.74, peaked at $1.80, dipped to $1.72, and currently stands at $1.75. Week-over-Week Gain: +$0.05 Year-over-Year Decline: -$0.50 Market Technicals: Current Pricing: Below the 50-day, 20-day, and 9-day averages, all at $1.75. Key Levels: Resistance starts at $1.79 and $1.87, with support beginning at $1.68 and $1.66. Basis and Export Insights: Basis Updates: Slight increases in PG&E and SoCal CG bases. LNG Exports: Reached 10.9 Bcf/D yesterday, highlighting robust export activity. Supply and Demand: Today’s Estimated Supply: 104.0 Bcf, with a 7-day average of 103.8 Bcf. Demand Projections: Today’s estimated demand is 93.7 Bcf, with a rising trend expected over the next week. Storage and Weather Forecast: Storage: Yesterday's injection exceeded forecasts at 50 Bcf, contributing to current levels that are 622 Bcf above the 5-year average. Weather Impact: Moderate to high demand expected due to chilly conditions across major regions in the next 6 days. Energy Prices and Market Outlook: Crude Oil: Currently at $82.78 with a downward trend projected. Renewable Energy Outlook: Wave energy is touted as a future key renewable source, with hydro levels expected to be 6% higher in 2024. Forward-Looking Statements: Pricing Strips: Summer prices range from $3.35 to $4.06, while winter prices are forecasted to be between $6.40 and $7.12. Market Sentiment: While the short-term outlook due to weather supports higher prices, fundamental indicators suggest a bearish trend remains dominant. This comprehensive overview provides actionable insights for industry stakeholders. Stay tuned for more updates and discussions on how these trends might evolve. #EnergyMarkets #NaturalGas #Commodities #MarketAnalysis #RenewableEnergy #ProfessionalNetworking

West Texas Oil & Gas Insights: December Edition Welcome to our monthly series, where we provide updates and insights on the oil and gas industry in West Texas. The Permian and Delaware Basins continue to be pivotal in U.S. energy production, and TAZ Well Service is proud to contribute to this dynamic sector. Global Oil Demand Trends: According to the International Energy Agency's (IEA), global oil demand is projected to increase by 920,000 barrels per day (b/d) this year, reaching 102.8 million b/d. In 2025, demand is expected to grow by just under 1 million b/d, totaling 103.8 million b/d. This deceleration compared to previous years is attributed to the conclusion of post-pandemic demand surges and the adoption of clean energy technologies. Regional Production Insights: The IEA forecasts that by 2025, global oil supply will surpass demand by over 1 million b/d, even if OPEC+ maintains current production cuts. This surplus is largely due to increased output from non-OPEC+ countries, including the United States, Canada, Guyana, and Argentina. The U.S. is anticipated to lead this growth, with significant contributions from the Permian Basin. Local Industry Dynamics: In West Texas, the Permian Basin remains a cornerstone of U.S. oil production. However, the region faces challenges such as fluctuating oil prices and labor shortages. Operators are addressing these issues by implementing innovative solutions to enhance efficiency and reduce downtime. At TAZ Well Service, we have observed a growing demand for services like drillouts, cleanouts, and pump downs, as operators strive to optimize horizontal well operations. Safety and Sustainability: The emphasis on safety and sustainability continues to intensify. Companies in the Permian and Delaware Basins are actively working to minimize environmental impacts while ensuring the safety of their workforce. At TAZ Well Service, safety is integral to our operations. Our Cat-4 certified rigs and well-trained teams adhere to the highest industry standards, enabling us to deliver efficient and reliable services. Looking Ahead: As we approach the end of 2024, the outlook for West Texas's oil and gas sector remains positive. Operators are preparing for a robust finish to the year, with a focus on digital tools and data-driven decision-making to drive future growth. TAZ Well Service is committed to supporting our clients with best-in-class equipment, innovative solutions, and an unwavering dedication to excellence. Stay tuned for next month’s insights, where we will explore new developments and share updates from the field. If you have questions or topics you’d like us to cover, please leave a comment below—we’d love to hear from you! #WestTexas #OilAndGas #TAZWellService #EnergyInnovation #PermianBasin

In an interview with The Energy Year, our Middle East Managing Director Iman Nasseri talks about emerging trends in the Middle East #oil & #gas market, and how NOCs are adapting to these trends. Read here: https://lnkd.in/dAw4SmFX #MiddleEast

Obviously, weather plays a big factor in natural gas prices as evidenced by the recent surge in prices coinciding with the ongoing countrywide cold snap. I tend to take all broad predictions with a grain of salt especially when they earmark specific price, demand and storage numbers. I do think it is interesting that the EIA specifically cites LNG exports as driver of future gas prices. "We expect increases in the Henry Hub natural gas price in 2025 and 2026 as demand for natural gas grows faster than supply, driven mainly by more demand from U.S. liquefied natural gas (LNG) export facilities..." Also interesting that they see the growth coming from associated gas in Permian and Haynesville regions. We will see how it shakes out but definitely some things to keep an eye in the next 2 years. #PermianNaturalGas #HaynesvilleNaturalGas #USGasStorageDeficits https://lnkd.in/dWp2PYk7

#Oil_Energy_Gas ⚙️ 🧿The oil energy sector is a massive industry, playing a vital role in the global economy as the world's primary fuel source. It's a complex, capital-intensive industry requiring state-of-the-art technology . The sector is divided into three main areas: upstream (exploration and production), downstream (refining, processing, and distributing), and midstream (transportation and storage). 💠Key Statistics: 🔹The global oil and gas market size was recorded at $6.7 trillion in 2023 and is expected to reach $8.9 trillion by 203. 🔹India is the third-largest energy consumer in the world and the fourth-largest importer of liquefied natural gas (LNG) . 🔹The country's energy demand is expected to grow at about 3% per annum by 2040, compared to the global rate of 1% . 💠Growth Drivers: 🔸Increasing demand for energy 🔸Unified tariff for natural gas pipelines and review of domestic gas pricing 🔸Reduction in the 'No Go' area by 99%, making available an additional approximately 1 million square kilometers of India's Exclusive Economic Zone for exploration 🔸Favorable policies, such as the National Data Repository (NDR) and the Discovered Small Field Policy (DSF). 💠Challenges: 🔹Balancing short-term returns with long-term license to operate 🔹Reducing greenhouse gas emissions and meeting international climate targets 🔹Investing in low-carbon technologies and diversifying energy operations 🧿crude oil market size versus the combined value of the top 10 metal markets in 2022. 🔸Crude Oil Market Size: $2.1 trillion, based on global production and spot prices as of 2022. 🔹Top 10 Metals Market Value: A total of $967 billion, calculated by multiplying the annual production by average spot prices in 2022. 💠Individual Metal Market Sizes: 🔸Iron Ore: $283 billion (largest by tonnage and dollar value, 2.6 billion tonnes produced in 2022). 🔹Gold: $196 billion (one of the most expensive metals per tonne, priced over $63 million per tonne). 🔸Copper: $183 billion. 🔹Aluminum: $153 billion. 🔸Nickel: $69 billion. 🔹Zinc: $31 billion. 🔸Silver: $20 billion. 🔹Palladium: $20 billion. 🔸Lead: $9.2 billion. 🔹Molybdenum: $13 billion. 🧿The oil market is massive! The global oil and gas market size was recorded at $6.7 trillion in 2023 and is expected to reach $8.9 trillion by 2031, growing at a compound annual growth rate (CAGR) of 3.68% from 2024 to 2031. 💠Key Market Segments: 🔸Upstream: Exploration and production of oil and gas 🔹Downstream: Refining, processing, and distributing oil and gas products 🔸Midstream: Transportation and storage of oil and gas. 🔹North America: Held the largest market share of 36.25% in 2023 🔸Asia-Pacific: Expected to grow at a CAGR of 4.48% 🔹Europe: Significant market share, driven by industrial demand 🔸Middle East & Africa: Growing demand for oil and gas products 🔹Latin America: Emerging market with growth potential #GlobalEconomic #Exploration #OilMarket #Refining #NDR #DSF #LNG #CAGR #Machnology

🌍 Why the U.S. Natural Gas Market is Poised for a Long-Term Super-Cycle Through 2030 🌍 📈 While many focus on short-term natural gas price spikes, structural changes in global markets are paving the way for a long-term super-cycle that could bring U.S.-Europe price parity by 2030. Here’s what’s driving this transformation: 🔌 1. Explosive LNG Export Growth U.S. LNG export capacity is set to double by 2028, reaching 24.4 Bcf/d, solidifying the U.S. as a global energy leader. 💡 Industries Impacted: LNG developers, shipping, downstream energy users. 🔗 Source: LNG Industry https://lnkd.in/gVi8fXFW 🌐 2. Geopolitical and Energy Security Shifts Policy changes aim to reduce Europe’s reliance on Russian gas, enhancing energy security and opening premium markets for U.S. LNG. 💡 Industries Impacted: LNG exporters, geopolitical risk, energy traders. 🔗 Source: Reuters https://lnkd.in/g64SZQBU 🏗️ 3. Infrastructure Expansion Streamlined regulatory reforms are accelerating pipeline and LNG terminal projects. 💡 Industries Impacted: Midstream, engineering, manufacturing. 🔗 Source: Reuters https://lnkd.in/gtmVvprk 📦 4. Midstream Investments in Storage Pipeline expansions and growing storage investments are critical to managing price volatility and seasonal demand surges. 💡 Industries Impacted: Pipeline operators, energy logistics. 🔗 Source: S&P Global https://lnkd.in/gU2wj_ij 📊 5. Global Market Integration Growing LNG exports are driving U.S.-Europe price convergence, allowing U.S. producers to capitalize on premium global pricing. 💡 Industries Impacted: Energy traders, producers. https://lnkd.in/g64SZQBU 🌱 6. European Demand Growth EU climate policies and diversification efforts are driving strong LNG demand through 2030, and the U.S. is well-positioned to meet it. 💡 Industries Impacted: LNG exporters, utilities, renewables. 🔗 Source: Reuters https://lnkd.in/gZDVEKwz 📢 Conclusion: Policy shifts, midstream investments, and global demand are transforming markets. Price volatility is no longer just noise—it reflects a deeper structural realignment. By 2030, U.S.-Europe price parity will redefine opportunities for stakeholders in energy. 💬 What do you think? Are we on the verge of a sustained super-cycle? Let’s discuss! 🔗 #Energy #NaturalGas #LNG #GlobalMarkets #Infrastructure #EnergySecurity #Policy

Our latest Energy, oil, and gas price forecast explores how Canada's current energy landscape will evolve as we move into the second half of the year. Both oil and gas prices have been weakening, and natural gas prices have been remarkably low. But our forecast has an optimistic outlook for the future. We think low natural gas prices probably aren’t here to stay.  Find out where prices are trending: https://deloi.tt/3Bug2O1

Short-Term Energy Outlook According to the U.S. Information Administration (EIA) on Global oil prices, we expect that a combination of voluntary OPEC+ crude oil production cuts and ongoing geopolitical risks will keep the Brent crude oil spot price near $90 per barrel (b) for the remainder of 2024 before falling to an average of $85/b in 2025 as global oil production growth picks up. Global oil production tables. In February the EIA is published a streamline of global oil data tables. These tables provide a more complete breakout of OPEC+ production data and provide a new breakout of world crude oil and other liquid fuels production. U.S. retail gasoline prices. Across the United States, analysts have forecasted retail gasoline prices will average near $3.70 per gallon from April through September, which is similar to prices during the same period last year. Refinery operations are a source of uncertainty for gasoline markets this summer. An upcoming Perspectives supplement looks in more depth at the effect refinery operations could have on retail gasoline prices. Natural gas production. The EIA expects U.S. dry natural gas production to fall by 2% from the first quarter of 2024 (1Q24) to 2Q24 as a result of low natural gas prices. They also expect 1% less natural gas will be produced in the United States in 2024 than last year before production increases by 2% in 2025 to a record of almost 105 billion cubic feet per day (Bcf/d). Natural gas consumption. U.S. natural gas consumption in the EIA's forecast is mostly unchanged in 2024 compared with last year, averaging 89 Bcf/d. The agency expects that less consumption in the industrial sector will offset increases in natural gas consumption in the electric power, residential, and commercial sectors. Electricity generation. Solar supplies most of the forecast growth in U.S. electricity generation this year. Again, the EIA expects total U.S. electricity generation will grow by 3% (114 billion kilowatthours) in 2024, and they forecast generation from utility-scale solar will contribute almost 60% of that increase. Among other renewable sources, wind contributes 19% of 2024 U.S. electricity generation growth, and hydropower contributes 13%. Coal markets. Estimate of U.S. coal exports in 2024 are upwards by 4% compared with the April Short-Term Energy Outlook (STEO) due to more-than-expected metallurgical coal exports from the Appalachia region in February. We now expect U.S. coal exports in 2024 will be almost unchanged from 2023. However, analysts still expect coal production will decline by 14% in 2024 to about 500 million short tons and then fall by about 1% next year. But more coal exports in this STEO compared with last month’s forecast mean the decline is less than speculators had forecasted in January; the EIA raised its forecast for U.S. coal production from January by 3% in 2024 and by 6% in 2025.

2023 set records for natural gas consumption, because solar doesn't work at night, even with batteries. US delivering 12 T/cf of natural gas into the American and global supply chain. 42% of oil production comes from Texas. In 2023, Americans consumed 89.1 billion cubic feet per day (Bcf/d) of natural gas as a primary energy source. Natural gas was the top energy source powering homes and businesses. Last year’s consumption was “the most on record,” the U.S. Energy Information said in a recent report. Since 2018, domestic natural gas consumption has increased by an average of 4% annually, according to EIA’s analysis. U.S. natural gas consumption also set annual and monthly records during 2023. Monthly natural gas consumption set new record highs every month from March through November 2023. The largest monthly increases were seen in July and August, which set monthly records, “despite cooler-than-normal temperatures than during those months in 2022,” EIA said. “The United States broke production records in 2023, producing 37 trillion cubic feet of natural gas with Texas also reaching new highs and delivering 12 trillion cubic feet of natural gas into the American and global supply chain,” Longanecker told The Center Square. “As TNG recently highlighted, a strong supply of U.S. natural gas, largely supplied by Texas, has kept domestic energy markets stabilized as the power sector increases its natural gas demand and our LNG market grows.“It’s no secret that natural gas is and will remain a critical fuel source for our country and allies as we work towards a reliable and resilient lower-emission economy. Last year’s high consumption figures are a testament to that. American and Texan natural gas producers are proving an ability to not only meet local and global demand, but an ability to do so responsibly.” TXOGA’s projections for February 2024 show that Texas’ production remained near record levels at 5.6 mb/d of crude oil, 3.5 mb/d of NGLs, and 31.6 bcf/d of natural gas marketed production. Texas’ market shares also increased, according to the analysis. In 2023, Texas’ annual average share of U.S. output rose to 42.7% for oil, the highest since 2020, and rose by 27.9% for natural gas marketed production, the highest since 2014. Texas Senate Public Utility Commission of Texas Brent Bennett Western States Petroleum Association El Paso Natural Gas Company, L.L.C EPRI Intel Corporation Lea Márquez Peterson https://lnkd.in/gQUzbwgy