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European and US Natural Gas Prices Rise On Supply Shortage Fears

FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Dec. 29, 2021 /PRNewswire/ -- Russia's inactive Nord Stream 2 pipeline and cold weather forecasts through the end of December caused a rally in European natural gas futures and sent US natural gas futures up 4% on Monday. The 11% jump in European gas prices should keep US liquefied natural gas (LNG) exports near record highs. Recent months have seen global gas prices hit record highs as utilities across the globe scrambled for LNG cargoes from the US and elsewhere to replenish low stockpiles in Europe and meet surging demand in Asia, where energy shortfalls have caused power blackouts in China. With gas prices around $35 per mmBtu in Asia and $38 in Europe, compared with about $4 in the US, buyers around the world will likely continue purchasing all the LNG the US can produce. Amidst this storm of rising natural gas prices, soaring demand, and tight supply, natural gas companies such as NG Energy International Corp. (TSXV: GASX) (OTCQX: GASXF), Camber Energy (NYSE: CEI), Callon Petroleum Company (NYSE: CPE), Ecopetrol (NYSE: EC), and Baytex Energy Corp. (TSX: BTE) could be looking at massive gains for shareholders as they leverage increased cash flows.

NG Energy International Corp. (TSXV:GASX) (OTCQX:GASXF) continues to make critical headway on its path to production at its Maria Conchita project in Colombia.. The Company just announced completion of the production facilities and 14 KM pipeline connecting Maria Conchita to the national pipeline infrastructure. Once testing of the facilities are complete and a production license is granted, the Company will be able to bring the Aruchara-1 well online. In September of this year, NG Energy also announced the National Authority of Environmental Licenses approved the development of 22 wells at the company's SINU-9 project. SINU-9 is a large 311,353 acre block adjacent to Canacol Energy (TSX:CNE), Colombia's largest independent natural gas producer, which produced 183 MMSCFPD in 2021 right next door.  

In order to expedite milestones, NG Energy closed a non-brokered private placement in October for gross proceeds of C$8 million to help accelerate the Company's fully funded 4 well drilling program at SINU-9. The money raised will allow the Company to build the necessary roads and drilling pads concurrently instead of consecutively, saving several weeks per well. It will also allow NG Energy to install a dewatering capillary system at the Istanbul-1 well at Maria Conchita which should allow the well to be completed and put into production.

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Nachrichtenquelle: PR Newswire (engl.)
29.12.2021, 14:45  |  248   |   |   

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European and US Natural Gas Prices Rise On Supply Shortage Fears FN Media Group Presents Microsmallcap.com Market Commentary NEW YORK, Dec. 29, 2021 /PRNewswire/ - Russia's inactive Nord Stream 2 pipeline and cold weather forecasts through the end of December caused a rally in European natural gas futures and …

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