The Eagle Ford Is Turning Into A Natural Gas Haven

Natural gas markets have recorded a sharp spike in the current week with Henry Hub prices jumping 24% to $2.06/MMBtu as Europe mulls cutting off more Russian gas. Last month, EU energy chief Kadri Simson signaled that the EU executive has 'no interest' in pushing Kyiv to renew its 5-year contract with Moscow, responsible for the supply of 5% of Europe’s gas.

Mody has predicted strong production growth by the Eagle Ford Shale out to 2030 thanks to the favorable economics and low nitrogen content of natural gas produced in the basin. According to data from S&P Global Commodity Insight, natural gas production from the Eagle Ford Shale averaged 5.2 Bcf/d in 2023; Kinder Morgan has forecast that production will grow by another 2.5 Bcf/d, or nearly 50%, by 2030, and probably rival that of the Haynesville.

Source: News Formal (newsformal.com)

Gas Prices Henry Hub U.S. Gas Demand Gas Storage Eagle Ford

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