Save for later Print Download Share LinkedIn Twitter Southwestern Energy has entered the Haynesville via a $2.7 billion deal to buy Indigo Natural Resources, the third largest private natural gas producer in the US. The deal is expected to close in the fourth quarter pending shareholder approval. Funding will include $400 million in cash, $1.6 billion in Southwestern stock and $700 million in assumed debt. Southwestern said the deal will increase cumulative free cash flow to $1.2 billion in 2021-23 and increase net production to 4.1 billion of cubic feet equivalent per day, 85% gas. * * * Analysts are expecting an average storage build of 96 Bcf for the week ended May 28 when the EIA reports data Thursday. This compares to the five-year average injection of 96 Bcf and last year’s 103 Bcf build. Models range from injections of 86 Bcf to 107 Bcf. If consensus is correct, the storage level will be 2.7% below the five-year average and 14.4% below last year’s levels, according to Reuters. Meanwhile, models for the week ending Jun. 4 are for a slightly above-normal build in the mid-90s Bcf, with models ranging from 81 Bcf to 110 Bcf. That compares with a five-year average increase of 92 Bcf and a 95 Bcf injection during the same week last year. * * * Natural Gas Vehicles for America and Coalition for Renewable Natural Gas report that California fleets fueled with bio-CNG achieved carbon-negativity for calendar year 2020. RNG comprised 92% of all on-road fuel used in natural gas vehicles in California last year.