Gas Prices Set to Rise as Temperature and Supply Drop

Gas Prices Set to Rise as Temperature and Supply Drop

Natural gas prices in North America have been on a steady decline in recent months, fueled by high production in the US last year and a mild winter throughout the continent. However, now that the weather has taken a turn for the worse, severe temperatures on the East Coast are driving demand back up.

Obama Vetoes Keystone XL Approval

In early January, US president Barack Obama stated that he'd veto legislation to allow for construction of the Keystone XL pipeline.

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Videos

Keith Schaefer: Expect Oil M&A Activity in Q3, Q4 2015

Keith Schaefer spoke to Resource Investing News at VRIC about a variety of topics, including the ongoing glut in the oil market and what he thinks the future holds for major and junior oil companies. He also touches on LNG in British Columbia.

Justin Smith of Western Canadian Properties Group Talks Natural Gas in BC

Gas Investing News recently had the chance to speak with Justin Smith, Investment Advisor at Western Canadian Properties Group, about natural gas projects in British Columbia. Contrary to suggestions that BC's LNG dreams could have been smashed by Russia's recent $400 billion deal with China, Smith says that "the demand [in China] is growing at a pace where you're going to need a number of these deals to satiate those demands."

Company News

Northwest Natural Gas Reports Q4 and Annual Profit

Northwest Natural Gas Company (NYSE:NWN) announced its Q4 and full year results for 2014, with net earnings coming to US$28.5 million in the fourth quarter and $58.7 million for the fiscal year.

Santos Reports 2014 Full Year Results

Santos (ASX:STO) reported its 2014 full year results, announcing a net profit of $533 million, a six per cent increase on 2013 and a net loss of $925 million due to frozen recruitment and payrises.

Freeport-McMoRan Reports Production Test Results for Highlander

Freeport-McMoRan Inc. (NYSE:FCX) announced the results of its production test at the Freeport-McMoRan Oil & Gas’s (FM O&G) Highlander discovery, which indicated a flow rate of approximately 75 million cubic feet of natural gas per day.

Ivanhoe Energy Could Face Bankruptcy

Ivanhoe Energy Inc. (TSX:IE) announced that it is seeking protection under the Bankruptcy and Insolvency Act (BIA) by filing a notice of intention to make a proposal and may be facing bankruptcy as a result of the company's current financial situation.

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Company Videos

Bayhorse Silver CEO Talks about Light Oil in Saskatchewan

Bayhorse Silver Inc. (TSXV:BHS) President & CEO Graeme O’Neill spoke to Resource Investing News at the Vancouver Resource Investment Conference 2015 about the Little Swan light oil prospect in Saskatchewan.

Market News

Rising Oil Prices Mean First Monthly Gain Since July

The Globe and Mail reported that the rise in crude oil prices Friday will put Brent and US futures on track for their first monthly gain since June 2014. This gain is also supported by the improving demand outlook and supply outages in OPEC countries.

Netherlands Lower Gas Production Cap for 2015

Economy Watch reported that gas prices will continue to increase in Europe after the Netherlands announced its decision to reduce its production cap for the first half of the year. The decision to cut down production from the gas field in Groningen is reportedly due to environmental and safety hazards. Cutting back to will prevent [...]

US Supply Falls Lower Than Expected, Price Drops

The US Energy Information Administration reported that the country's natural gas supply for the week ending February 20 has declined by 219 billion cubic feet from the previous week.

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