Welcome to GasNewsOnline.com!  As severe weather pounds the plains of Oklahoma and Texas again today, spot natural gas prices are rebounding slightly in advance of June’s NYMEX close. 

Today, we’ll also review the latest interstate pipeline company critical notices plus provide an update on latest energy news and give you the latest National Weather Service temperature forecast for the month of June, too.

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At the New York Mercantile Exchange

(Nymex) today, the price of the June 2019 contract increased by nearly four

cents to about $2.67/MMBtu on Monday.  The

price of the 12-month strip averaging June 2019 through May 2020 futures

contracts has gained about six cents the past week to nearly $2.81/MMBtu. 

From the US Energy Information Administration’s “Natural Gas Weekly Update” publication…

Net injections to working gas totaled

106 billion cubic feet (Bcf) for the week ending May 10. Working natural gas

stocks are 1.653 Tcf, which is 15% lower than the five-year (2014–18) average

for this week.

The natural gas plant liquids composite

price at Mont Belvieu, Texas, rose by five cents, averaging $5.73/MMBtu for the

week ending May 15. The price of ethane and natural

gasoline fell by 2% and 1%, respectively. The price of propane, isobutane, and

butane rose by 3%, 2%, and 1%, respectively.

According to Baker Hughes, for the week ending Tuesday, May 7, the natural gas rig count remained flat at 183. The number of oil-directed rigs fell by 2 to 805. The total rig count decreased by 2, and it now stands at 988.

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Global investment firm KKR and Western Natural Resources, LLC (“Western”) today announced a new partnership to acquire producing and undeveloped oil and gas assets in the Williston Basin.

Western’s

CEO Heath Mireles and his team bring extensive operating experience to the

partnership, having drilled, completed and operated thousands of wells over the

Williston Basin’s long history. The Western team will leverage their collective

experiences from time spent at large public operators as well as other private

companies to acquire, manage and develop producing wells and drilling locations

throughout the play.

Ben

Conner, Director on KKR’s Energy Real Assets team, said, “The Williston

continues to be a core area of focus for us as we see a significant opportunity

to acquire high quality producing assets with attractive long-term value

creation opportunities to be delivered through superior technical and

operational execution. We have known Heath and members of his team for years

and believe our partnership is well positioned to acquire and manage assets in

the Williston for the long run.”

Western is a private company focused on the acquisition and exploitation of upstream oil and gas assets. Headquartered in Oklahoma City, Oklahoma, its primary objective is to build and operate a large-scale portfolio of producing oil and gas wells and drilling locations in the Williston Basin.

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Today, NRG Energy, Inc. agreed to acquire Dallas-based Stream Energy’s retail electricity and natural gas business for $300 million plus worki...