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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATGAS
Tellurian will halt natural gas drilling operations in the Haynesville region until low market prices recover.
- The US is seeing a broader slowdown in gas directed drilling activity. Cost inflation has lifted the breakeven price for the average Haynesville operator to nearly 3$/mmbtu according to S&P Global. Drilling costs in the Haynesville tend to be higher because natural gas wells are deeper than in other plays.
- Active drilling rigs in the Haynesville have fallen from 86 over the winter to 61 in the week to 19 April.
- Dry natural gas production from Haynesville reached new highs of 14.5bcf/d in March compared to the 2022 annual average of 13.1bcf/d according to Enverus. Haynesville accounts for about 14% of all US dry natural gas production.
- Tellurian produced 19.3bcf in the Q1 2023 compared to just 6.1bcf in Q1 2022 and plans to keep production roughly flat at about 200mmcf/d in 2023.
- The company is still looking to increase its production footprint in 2023 and 2024 with aims to source its own feedgas for the proposed Driftwood LNG terminal in Louisiana.
- US Natgas JUN 23 down -2.6% at 2.11$/mmbtu
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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