September 2, 2022

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Gas Markets

Market Watch

October natural gas futures sank 47.6¢ on Friday to $8.786 per million Btu, down 55¢ since taking over as prompt month Aug. 29. But with the risk of a cold winter — and persistently light storage inventories — still entrenched, bulls could remain in control for now. The 12-month strip fell 25.8¢ to $7.237; the 2023 calendar strip was off 15¢ to $6.544 (Futures contracts).

WTI October crude edged up 26¢ to $86.87/bbl, down $6.19 for the week.

* * *

British Columbia's Westcoast Station 2 continues sink under regional pipeline constraints, posting the most significant price move of the day, falling 29¢ to negative 11¢/MMBtu. Alberta benchmark Aeco fell $1.25 to $1.26. This compared to benchmark Henry Hub cash prices that averaged $8.91. In the Northeast, Transco zone 6 New York averaged $7.90, while Boston-area Algonquin declined 40¢ to average $7.94. In West Texas, cash prices at the Permian's Waha Hub fell 7¢ to average $8.10. Meanwhile, Rockies leader Kern/Opal fell 64¢ to $8.51, SoCal Citygate declined $2.19 to average $13.41 and Northwest Sumas lost 73¢ to average $8.61 (Daily cash prices).
* * *

Exxon Mobil is selling its gas assets in the Fayetteville Shale to FlyWheel Energy for an undisclosed sum. The assets include about 850 operated and 4,100 nonoperated wells as well as related midstream infrastructure spread across 381,000 net leasehold acres. The move follows Exxon’s decision earlier this year to exit the Barnett Shale of North Texas, another mature dry gas basin. More recently, Exxon sold its acreage in the Utica Shale of Ohio to Ascent Resources for $270 million. The mature Fayetteville was among the first US shale gas plays to move to development, but activity in the play has languished in recent years as dollars and rigs fled for more economic basins in Appalachia and the Haynesville.

* * *

The US rig count declined five to 760 last week, up 263 from a year ago. Gas-directed rigs climbed four to 162, up 60 from a year ago, while oil rigs fell nine to 596, up 202 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 92 rigs to 342, followed distantly by the Eagle Ford Shale, up 36 to 71. The Haynesville Shale rig count is up 23 at 71 (Rig counts).


Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
EmersonEmpress   SoCal CitygateKern - Wheeler RidgeKingsgateAECOWestcoast Station 2-180%-160%-140%-120%-100%-80%-60%-40%-20%0%20%40%EmersonEmpress   SoCal CitygateKern - Wheeler RidgeKingsgateAECOWestcoast Station 2
Note: Sep 2' 22 versus prior day price: points moving up (2), down (74).
Natural Gas Spot Prices
Trade Date: Sep. 2, 2022 / Flow Dates: Sep. 3-6, 2022
The above figures refer to volume-weighted averages for gas deals done today for tomorrow's flow, or weekend delivery on Friday trading, at each particular spot. Change reflects the difference from the previous published price. Composites reflect volume-weighted average for all deals done in the regional grouping. Daily Composite Spot Wellhead is a volume-weighted average for all producing area pipelines less gathering and processing costs. All prices are in $/MMBtu.

Critical Notices

Sort:
Count of Critical Notices in Last 7 Days
Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdPanhandleEastern PipelineCo.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC010203040506070Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdPanhandleEastern PipelineCo.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Sep 2, '22
Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23($/MMBtu)4.555.566.577.588.599.5Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23CurrentLast Month
Henry Hub
Change from prior day, Sep 1 '22

Baker Hughes Rig Count

Baker Hughes US Gas Rig Count
7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 2260708090100110120130140150160170 7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 22202020212022
Gas Rigs by Basin
Rig Count as of Sep 2 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Sep 2 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Sep 1 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
319284404504912656634685872Aug 25Aug 26Aug 27Aug 28Aug 29Aug 30Aug 31Sep 1Sep 2(MMcf/d)0100200300400500600700800900100011001200Aug 25Aug 26Aug 27Aug 28Aug 29Aug 30Aug 31Sep 1Sep 2NortheastSoutheastTexasUpper MidwestWestTotalYear-Ago
Note: Source: US Nuclear Regulatory Commission's Daily Power Reactor Status Report and Energy Intelligence,Historical data available via EI New Energy Data

Gas Prices, Power Prices and Spark Spreads for Major Hubs

Marginal Heat Rates (Btu/kWh)
26 Aug 2227 Aug 2228 Aug 2229 Aug 2230 Aug 2231 Aug 22 1 Sep 2202000040000600008000010000012000026 Aug 2227 Aug 2228 Aug 2229 Aug 2230 Aug 2231 Aug 22 1 Sep 22Malin/COBSocal/Palo VerdeAlgonquin/NE PoolHouston SC - Katy/ErcotStanfield/Mid-Col.TZ6 NNY/PJM W
Note: Indicates the threshold heat rate for each gas/power pair. Below the MHR, gas-fired generation may be more cost effective vs. purchased power above. For holidays and weekends, the previous business day's values are displayed.
Gas, Power Prices & Spark Spreads for Generators Major Hubs

Renewable Energy

Gas Equivalent of Caiso Wind and Solar Output
24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug 1 Sep(MW)0100020003000400050006000700080009000(MMcf/d)13001400150016001700180019002000210024 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug 1 SepCAISO Solar PVCAISO Solar ThermalCAISO WindTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of Ercot Wind Output
23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug 1 Sep(MW)02000400060008000100001200014000(MMcf/d)5001000150020002500300023 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug 1 SepWind Generation (MW)Gas equivalent (MMcf/d)Gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of PJM Renewable Output
23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug 1 Sep(MW)010002000300040005000600070008000(MMcf/d)900100011001200130014001500160023 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug 1 SepPJM SolarPJM HydroPJM WindPJM Other RenewablesTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data




Weather

Today's Short-Term Weather Forecast

Atlanta
Austin
Denver
Detroit
Las Vegas
Los Angeles
Minneapolis
Nashville
Philadelphia
Seattle
Washington
Boston
Orlando
New York
Leaflet | Weather from OpenWeatherMap
To change the layers on the map, click the icon to the left and choose the layer you want to display.
Layers available on weather map:
  • Temperature:
    Current ground temperature(in Fahrenheit).
  • Clouds:
    Displays the positions of the current cloud cover.
  • Precipitation:
    Displays current amount of falling water in liquid, sleet or snow form (in inches).
  • Wind speed:
    Displays the current wind speed(in knots).
  • Sea Level Pressure:
    Displays the current pressure at sea level(in millibars).
  • Snow:
    Displays the daily snow fall(in inches).
  • Rain:
    Displays today’s amount of rain fall(in inches).

Degree Days

Degree Days
18518720020820319517917227 August28 August29 August30 August31 August1September2September3September02040608010012014016018020022027 August28 August29 August30 August31 August1September2September3SeptemberCDDHDDCDD AvgHDD Avg
Note: Cooling Degree Days is the sum of temperature variances above 65 degrees for 14 cities: Atlanta, Georgia, Austin, Texas, Denver, Colorado, Detroit, Michigan, Las Vegas, Nevada, Los Angeles, California, Minneapolis, Minnesota, Nashville, Tenn, Philadelphia, Pennsylvania, Seattle, Washington, Washington, DC, Boston, Massachusetts, Orlando, Florida, New York, New York. Heating Degree Days is the sum of temperature variances below 65 degrees for those same 14 cities.
Degree Days


Regional °F Degree Day Differentials
Values listed are the previous days' difference from the 5-year degree day average.

Ex: A value of -4° indicates previous days' degree days were 4 degrees below the 5-year average.

Northeast US
New York 1°
Orlando -1°
Boston 1°
Washington 2°
Seattle 4°
Philadelphia 3°
Nashville 0°
Minneapolis 10°
Los Angeles 6°
Las Vegas 7°
Detroit 4°
Denver 6°
Austin -1°
Atlanta 0°
Southeast US
New York 1°
Orlando -1°
Boston 1°
Washington 2°
Seattle 4°
Philadelphia 3°
Nashville 0°
Minneapolis 10°
Los Angeles 6°
Las Vegas 7°
Detroit 4°
Denver 6°
Austin -1°
Atlanta 0°

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