Rising natural gas prices in Europe and the United States amid fears of supply shortages
NEW YORK, December 29, 2021 / PRNewswire / – that of Russia inactive Nord Stream 2 pipelines and cold weather forecast until the end of December caused European natural gas futures rally and sent US natural gas futures up 4% Monday. The 11% rise in European gas prices is expected to keep US exports of liquefied natural gas (LNG) at record levels. In recent months, global gas prices have reached record highs as utilities around the world have rushed for LNG shipments from the United States and elsewhere to replenish low stocks in Europe and meet the growing demand for Asia, where energy shortages caused blackouts in China. With gas prices around $ 35 by mmBtu in Asia and $ 38 in Europe, against about $ 4 in the United States, buyers around the world are likely to continue to buy all the LNG the United States can produce. Amid this storm of rising natural gas prices, skyrocketing demand and tight supply, natural gas companies such as NG Energy International Corp. (TSXV: GASX) (OTCQX: GASXF), Camber energy (NYSE: CEI), Callon Oil Company (NYSE: CPE), Ecopetrol (NYSE: EC), and Baytex Energy Corp. (TSX: BTE) could see massive gains for shareholders as they take advantage of increased cash flow.
NG Energy International Corp. (TSXV: GASX) (OTCQX: GASXF) continues to make decisive progress towards the production of its project Maria Conchita in Colombia.. The Company has just announced the completion of the production facilities and the 14 km pipeline connecting Maria Conchita to the national pipeline infrastructure. Once the tests of the installations are completed and a production license granted, the Company will be able to commission the Aruchara-1 well. In September of this year, GN energy Also announcement The National Environmental Licensing Authority has approved the development of 22 wells under the company’s SINU-9 project. SINU-9 is a large 311,353 acre block adjacent to Canacol Energy (TSX: CNE), that of Colombia largest independent producer of natural gas, which produced 183 MMSCFPD in 2021 next door.
In order to accelerate the milestones, NG Energy firm a private placement without intermediary in October for gross proceeds of 8 million Canadian dollars 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 platforms simultaneously rather than consecutively, saving several weeks per well. This will also allow GN energy install a capillary dewatering system at the Istanbul-1 well at Maria Conchita which should allow the well to be completed and put into production.
NG Energy the focus on natural gas places the company in a strategic position to take advantage of the global energy transition to renewable energies, while harnessing that of Colombia gas market at increased price. For more information on NG International Corp. (TSXV: GASX) (OTCQX: GASXF), Click here.
Natural gas companies prioritize shareholder value
Camber Energy (American NYSE: CEI), a supplier of customized energy solutions to commercial and industrial organizations, has obtained an exclusive intellectual property license for a patented carbon capture system. This acquisition of UP will position the company as a leader in helping other businesses meet their power generation needs while reducing their carbon footprint in accordance with regulatory requirements. Thanks to the intellectual property agreement, Camber energy will have access to ESG Clean Energy LLC’s patent rights and knowledge in stationary power generation and the use of heat to capture carbon dioxide.
Callon Petroleum Company (NYSE: CPE) accelerates its shareholder value with the acquisition of Primexx Energy Partners. The company announced an agreement to acquire the leasehold interests and gas, oil and infrastructure assets of Primexx, a private oil and gas company in the Delaware Bowl. By agreement, Callon Oil will be positioned to deliver long-term shareholder value while strengthening its financial position. This acquisition also supports the company’s development projects in the Delaware basin with Primexx infrastructure providing 300 additional identified core network locations.
Ecopetrol (NYSE: EC) reported a 10.2% increase in its natural gas production in the first half of 2021 and a net profit of 9,400 billion COP, making it the best quarter to date for the Ecopetrol group. The company also strengthened its position in the Asian market with the incorporation of a company in Singapore. On the exploration front, the company completed the drilling of 8 wells in the first half of 2021 with cumulative production of 908,535 for exploration assets.
In an update to its Clearwater Assessment Program, Baytex Energy Corp. (TSX: BTE) announcement that the program exceeded company expectations with high production results. The program increased its production from zero by January 2021 at over 2,300 bbl / d in August. The company also expanded its partnership with the Peavine Metis Settlement, increasing its positions to 80 contiguous sections. The company also plans to drill two more clean water wells later this year and expand 12 to 18 wells in 2022.
Natural gas companies such as NG Energy International Corp. (TSXV: GASX) (OTCQX: GASXF) are positioned to deliver more shareholder value as the global energy crisis spreads amid growing demand for winter.
For more information on NG Energy International Corp. (TSXV: GASX) (OTCQX: GASXF), Click here.
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