June 19, 2023
MSBA Energy News Q2 2023
In this quickly evolving energy market, we want to keep you well-informed, which is why we're reaching out with a quarterly newsletter for all participants in the MSBA Natural Gas Consortium. As we reach the year's midpoint, it's clear that the natural gas market is looking different than last year.
Production & Demand
Since the start of the year, natural gas prices have dropped significantly, threatening production levels. In February, U.S. energy companies implemented the most significant reduction in oil and gas rigs within a month since June 2020. Specifically, 17 natural gas rigs were taken out of operation, representing the largest drop since June 2020. However, it is important to note that despite this decline, the total rig count remains 31 percent higher than the previous year and 18 percent above the five-year average.
The decrease in natural gas demand can be attributed to a combination of factors, including a warmer-than-normal winter and the conclusion of the heating season. These factors have contributed to a decline in the demand for natural gas. This marks the first consecutive annual decline in natural gas demand, a trend not observed since 2006.
Looking Forward
As the U.S. continues to grow in liquefied natural gas (LNG) exports, the domestic U.S. market is now competing on a global stage for natural gas. Last year, the U.S. exported an average of 10.6 billion cubic feet per day (Bcfd). Now, three more LNG export facilities will come online in 2023 to help the nation secure its position as the world’s second-largest LNG exporter. This increased exportation of LNG will likely impact domestic prices.
Missouri School Boards Association
We are proud to be the supplier of the MSBA Natural Gas Consortium and the many benefits it brings to districts across the state.
If you weren't able to attend the webinar WoodRiver Energy held in partnership with MSBA, you can watch it here.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
Market Data:
June 19, 2023
June 19, 2023
MSBA Energy News Q2 2023
In this quickly evolving energy market, we want to keep you well-informed, which is why we're reaching out with a quarterly newsletter for all participants in the MSBA Natural Gas Consortium. As we reach the year's midpoint, it's clear that the natural gas market is looking different than last year.
Production & Demand
Since the start of the year, natural gas prices have dropped significantly, threatening production levels. In February, U.S. energy companies implemented the most significant reduction in oil and gas rigs within a month since June 2020. Specifically, 17 natural gas rigs were taken out of operation, representing the largest drop since June 2020. However, it is important to note that despite this decline, the total rig count remains 31 percent higher than the previous year and 18 percent above the five-year average.
The decrease in natural gas demand can be attributed to a combination of factors, including a warmer-than-normal winter and the conclusion of the heating season. These factors have contributed to a decline in the demand for natural gas. This marks the first consecutive annual decline in natural gas demand, a trend not observed since 2006.
Looking Forward
As the U.S. continues to grow in liquefied natural gas (LNG) exports, the domestic U.S. market is now competing on a global stage for natural gas. Last year, the U.S. exported an average of 10.6 billion cubic feet per day (Bcfd). Now, three more LNG export facilities will come online in 2023 to help the nation secure its position as the world’s second-largest LNG exporter. This increased exportation of LNG will likely impact domestic prices.
Missouri School Boards Association
We are proud to be the supplier of the MSBA Natural Gas Consortium and the many benefits it brings to districts across the state.
If you weren't able to attend the webinar WoodRiver Energy held in partnership with MSBA, you can watch it here.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
June 19, 2023
MSBA Energy News Q2 2023
In this quickly evolving energy market, we want to keep you well-informed, which is why we're reaching out with a quarterly newsletter for all participants in the MSBA Natural Gas Consortium. As we reach the year's midpoint, it's clear that the natural gas market is looking different than last year.
Production & Demand
Since the start of the year, natural gas prices have dropped significantly, threatening production levels. In February, U.S. energy companies implemented the most significant reduction in oil and gas rigs within a month since June 2020. Specifically, 17 natural gas rigs were taken out of operation, representing the largest drop since June 2020. However, it is important to note that despite this decline, the total rig count remains 31 percent higher than the previous year and 18 percent above the five-year average.
The decrease in natural gas demand can be attributed to a combination of factors, including a warmer-than-normal winter and the conclusion of the heating season. These factors have contributed to a decline in the demand for natural gas. This marks the first consecutive annual decline in natural gas demand, a trend not observed since 2006.
Looking Forward
As the U.S. continues to grow in liquefied natural gas (LNG) exports, the domestic U.S. market is now competing on a global stage for natural gas. Last year, the U.S. exported an average of 10.6 billion cubic feet per day (Bcfd). Now, three more LNG export facilities will come online in 2023 to help the nation secure its position as the world’s second-largest LNG exporter. This increased exportation of LNG will likely impact domestic prices.
Missouri School Boards Association
We are proud to be the supplier of the MSBA Natural Gas Consortium and the many benefits it brings to districts across the state.
If you weren't able to attend the webinar WoodRiver Energy held in partnership with MSBA, you can watch it here.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
June 19, 2023
MSBA Energy News Q2 2023
In this quickly evolving energy market, we want to keep you well-informed, which is why we're reaching out with a quarterly newsletter for all participants in the MSBA Natural Gas Consortium. As we reach the year's midpoint, it's clear that the natural gas market is looking different than last year.
Production & Demand
Since the start of the year, natural gas prices have dropped significantly, threatening production levels. In February, U.S. energy companies implemented the most significant reduction in oil and gas rigs within a month since June 2020. Specifically, 17 natural gas rigs were taken out of operation, representing the largest drop since June 2020. However, it is important to note that despite this decline, the total rig count remains 31 percent higher than the previous year and 18 percent above the five-year average.
The decrease in natural gas demand can be attributed to a combination of factors, including a warmer-than-normal winter and the conclusion of the heating season. These factors have contributed to a decline in the demand for natural gas. This marks the first consecutive annual decline in natural gas demand, a trend not observed since 2006.
Looking Forward
As the U.S. continues to grow in liquefied natural gas (LNG) exports, the domestic U.S. market is now competing on a global stage for natural gas. Last year, the U.S. exported an average of 10.6 billion cubic feet per day (Bcfd). Now, three more LNG export facilities will come online in 2023 to help the nation secure its position as the world’s second-largest LNG exporter. This increased exportation of LNG will likely impact domestic prices.
Missouri School Boards Association
We are proud to be the supplier of the MSBA Natural Gas Consortium and the many benefits it brings to districts across the state.
If you weren't able to attend the webinar WoodRiver Energy held in partnership with MSBA, you can watch it here.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
June 19, 2023
MSBA Energy News Q2 2023
In this quickly evolving energy market, we want to keep you well-informed, which is why we're reaching out with a quarterly newsletter for all participants in the MSBA Natural Gas Consortium. As we reach the year's midpoint, it's clear that the natural gas market is looking different than last year.
Production & Demand
Since the start of the year, natural gas prices have dropped significantly, threatening production levels. In February, U.S. energy companies implemented the most significant reduction in oil and gas rigs within a month since June 2020. Specifically, 17 natural gas rigs were taken out of operation, representing the largest drop since June 2020. However, it is important to note that despite this decline, the total rig count remains 31 percent higher than the previous year and 18 percent above the five-year average.
The decrease in natural gas demand can be attributed to a combination of factors, including a warmer-than-normal winter and the conclusion of the heating season. These factors have contributed to a decline in the demand for natural gas. This marks the first consecutive annual decline in natural gas demand, a trend not observed since 2006.
Looking Forward
As the U.S. continues to grow in liquefied natural gas (LNG) exports, the domestic U.S. market is now competing on a global stage for natural gas. Last year, the U.S. exported an average of 10.6 billion cubic feet per day (Bcfd). Now, three more LNG export facilities will come online in 2023 to help the nation secure its position as the world’s second-largest LNG exporter. This increased exportation of LNG will likely impact domestic prices.
Missouri School Boards Association
We are proud to be the supplier of the MSBA Natural Gas Consortium and the many benefits it brings to districts across the state.
If you weren't able to attend the webinar WoodRiver Energy held in partnership with MSBA, you can watch it here.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
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