EIA: US power consumption will reach new highs by 2025 and 26.
The Energy Information Administration (EIA) said Tuesday that the U.S. will reach record-high power consumption in 2025 and in 2026. The EIA projects that power demand will increase to 4,187 billion Kilowatt-hours in 2025, and 4,305 in 2026. This is up from the record 4,097 in 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency and homes and businesses using more electricity for heating and transportation and less fossil fuel.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending August 29 to 536, the lowest level since August 2021. Baker Hughes reported that the total number of rigs is down 47 or 8.1% from the same time last year. Baker Hughes reported that oil rigs increased by one this week to 412, while gas-rigs decreased by three to 119.
Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the fourth consecutive week. The number of oil and gas drilling rigs, a leading indicator of future production, dropped by one in the week ending August 22 to 538, the lowest level since mid-July. Baker Hughes reported that the number of rigs has dropped by 47 this week. Below this time last Year. Baker Hughes reported that oil rigs dropped by one this week to 411, while gas-rigs remained at 122.
Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.
Baker Hughes, a leading energy services company, said that the U.S. firms cut back on the number of natural gas and oil rigs for the fourth consecutive week in its widely read report. The number of oil and natural gas rigs, a good indicator of future production, dropped by one in the week ending August 22. This is the lowest level since mid-July. Baker Hughes reported that oil rigs dropped by one this week to 411, while gas-rigs remained at 122. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S.
Baker Hughes reports that the US oil and gas rig counts are stable this week.
Baker Hughes, a leading energy services company, said that the U.S. energy companies this week kept the number of oil rigs and natural gas rigs at a constant level. The number of oil and gas drilling rigs, which is a good indicator of future production, was 539 during the week ending August 15. Baker Hughes reported that oil rigs increased by one this week to 412 while gas rigs decreased by one to 122. Texas, which is the largest oil and gas producing state, saw its rig count drop by one, to 242, marking the lowest level since September 2021.
EIA: US natgas production and demand will reach record highs by 2025 before declining in 2026
The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook, released on Tuesday, predicted that the U.S. Natural Gas output and demand would both reach record highs by 2025. However, they will then decline in 2026. EIA projects that dry gas production will increase from 103.2 billion cubic feet per day in 2024, to 106.4 in 2025, before slipping to 106.1 in 2026. This compares to a record of 103.6 bcfd for 2023. The agency projected that domestic gas consumption will rise from 90.5 bcfd…
EIA: US power consumption will reach new highs by 2025 and 26.
The Energy Information Administration (EIA) said Tuesday that the U.S. will reach record-high power consumption in 2025 and in 2026. The EIA predicted that power demand would rise to 4,186 kilowatt hours (kWh) by 2025, and 4,284 kWh by 2026. This is up from the record 4,097 kWh of 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency and homes and businesses using more electricity for heating and transportation and less fossil fuels.
Freeport LNG export facility in Texas returns to service on Monday according to LSEG data
Freeport LNG, a U.S. liquefied gas company, had its Texas export plant take on more natural gases on Monday. This was a sign the plant had recovered from an outage that occurred over the weekend. Freeport LNG is one of the most closely monitored LNG export facilities in the world, as the start and end of its operations can cause price fluctuations on global gas markets. Gas prices in the U.S. typically drop when flows to Freeport decline due to a lower demand for fuel from the export facility.
Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending August 1. This is the lowest level since October 2021. Baker Hughes reported that the number of rigs is down 46, or 7.8% from this time last year. Baker Hughes reported that oil rigs dropped by five this week to 410, their lowest level since September 2021.
US gas producer CNX resources increases 2025 production estimate without additional spending
CNX Resources, a U.S. energy company, said in its earnings for the second quarter that it planned to produce more gas than expected this year to meet rising demand and spend the same amount. Two other major U.S. producers of gas, EQT, and Range Resources both announced in their second-quarter earnings earlier this week that they would also produce more energy by 2025 to meet the rising demand. Energy analysts predict that demand for liquefied gas for powering data centers and exporting to other countries will continue to reach record levels in the coming years.
US gas companies EQT and Range increase output plans for 2025
EQT, a U.S.-based energy company, and Range Resources, a U.S.-based oil company both expect to produce additional natural gas by 2025 in order to meet the rising demand without increasing planned expenditure. Energy analysts predict that demand for liquefied gas for powering data centers and export to other countries will continue to reach record levels in the coming years. Dennis Degner, CEO of Range, told analysts during a call to discuss earnings on Wednesday that the company is "extremely well-positioned" to support these initiatives.
EIA: US power consumption will reach new highs by 2025 and 26.
The U.S. Energy Information Administration stated in its short-term outlook for energy on Tuesday that the U.S. will reach record levels of power consumption in 2025 and in 2026. The EIA predicted that the power demand would rise to 4,189 kilowatt-hours in 2025, and 4,278 kWh by 2026. This is up from 4,097 kWh at a record in 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency and homes and businesses using more electricity for heating and transportation and less fossil fuels.
Baker Hughes reports that US drillers have cut oil and natural gas rigs in the US for the 10th consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of oil rigs and natural gas wells for a tenth consecutive week for the first since July 2020. The number of oil and gas drilling rigs, a good indicator of future production, dropped by eight in the week ending July 3 to 539, the lowest level since October 2021. Baker Hughes released its report a day early than usual due to Friday's Fourth of July holiday in the United States. Baker Hughes reported that the total number of rigs is down 46 or 8% from this time last week.
Baker Hughes reports that the US oil/gas rig counts fell for a fourth month, to a low of Oct 2021.
Baker Hughes, a leading energy services company, said that the U.S. has cut its number of operating oil and gas rigs for the fourth consecutive month to the lowest level since October 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by seven in the week ending June 27. Baker Hughes reported that the number of rigs is down by 34 this week, or about 6% from this time last year. Baker Hughes reported that oil rigs dropped by six this week to 432, their lowest level since October 2021. Gas rigs also decreased by two, to 109.
Baker Hughes reports that US drillers have cut their oil and gas rigs in the US for eight weeks running.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the eighth consecutive week for the first since September 2023. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending June 20 to 554. This is the lowest it has been since November 2020. Baker Hughes reported that the number of rigs is down by 34, or 5.8% from this time last year. Baker Hughes reported that oil rigs dropped by one this week to 438, the lowest level since October 2021.
EIA: US natgas production and demand will reach record highs by 2025
The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook, published on Tuesday, predicted that both the U.S. Natural Gas output and demand would reach record levels in 2025. EIA projects that dry gas production in 2024 will increase from 103.2 billion cubic feet per day (bcfd), to 105.9 in 2025, and then 106.4 in 2026. This compares to a record-breaking 103.6 bcfd for 2023. The agency also predicted that domestic gas consumption will rise from 90.5 bcfd, a record in 2024, to 91.3 bcfd by 2025 and then ease back to 91.1bcfd by 2026.
EIA: US crude oil production hit a record high in March while demand fell
The U.S. Energy Information Administration reported in its Petroleum Supply Monthly Report on Friday that U.S. crude output reached a record monthly high in March while the demand for oil products fell to the lowest level in a full year. The U.S. crude output increased to 13,49 million barrels a day in March. This is up from the previous all-time record of 13,45 million bpd, which was set in October 2024. EIA data show that crude oil production in Texas, which is the top oil producing state in the United States…
Freeport LNG On Track to Return to Full Production
U.S. liquefied natural gas company Freeport LNG's export plant in Texas was on track to take in more natural gas on Thursday after a small reduction on Wednesday, a sign the plant was heading back to full power, according to gas flow data from financial firm LSEG.Officials at Freeport LNG had no comment.Freeport is one of the most closely watched LNG export plants in the world because the start and stop of its operations often cause price swings in global gas markets.When flows to Freeport drop, gas prices in the U.S.
US Natural Gas Prices Fall 6% in Volatile Contract Expiration Trade
U.S. natural gas futures fell about 6% on Wednesday to a one-week low in volatile contract expiration trade, pressured by an expected decline in gas flows to liquefied natural gas (LNG) export plants.Traders said Freeport LNG in Texas might reduce output and they pointed to forecasts for less demand this week than previously expected.On its last day as the front-month, gas futures for June delivery on the New York Mercantile Exchange (NYMEX) fell 19.4 cents, or 5.7%…
US drillers reduce oil and gas rigs at lowest level since November 2021, according to Baker Hughes
Baker Hughes, an energy services company, said Friday that U.S. firms have cut back on the number of natural gas and oil rigs for the fourth consecutive week, making it the lowest count since November 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by 10 in the week ending May 23. This was the first time in 2024 that drillers had reduced their number of rigs for four consecutive weeks. Baker Hughes reported that the number of rigs is down by 34 or 6% from last week.