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Pine Cliff Energy Ltd T.PNE

Alternate Symbol(s):  PIFYF

Pine Cliff Energy Ltd. is a Canada-based natural gas and crude oil company. The Company is engaged in the acquisition, exploration, development and production of natural gas and oil in the Western Canadian Sedimentary Basin and also conducts various activities jointly with others. The Company's operating areas include Central Assets, Edson Assets and Southern Assets. Its Central Assets include Ghost Pine and Viking Kinsella areas of Central Alberta. Its Southern Assets includes Monogram unit, Many Islands / Hatton properties, Pendor, Black Butte and Eagle Butte areas. Its Edson Assets include Pine Cliff with its first core area in the Western Canadian Sedimentary Basin. It operates and sells its natural gas to the common Alberta natural gas price hub.


TSX:PNE - Post by User

Post by 2021Gambleon Dec 23, 2022 8:01am
263 Views
Post# 35189045

low Pacific region storage = high spot prices

low Pacific region storage = high spot pricesNatural Gas Spot Prices at Major Western US Trading Hubs Exceed Other Markets' Prices, EIA Reports
 
23 Dec 2022 05:57 ET  

05:57 AM EST, 12/23/2022 (MT Newswires) -- Daily natural gas spot prices at three major trading hubs in the western US on Dec. 21 exceeded $50 per million British thermal units, the highest level of any other market, the US Energy Information Administration reported Thursday.

Gas spot prices at Pacific Gas & Electric Citygate, Sumas on the Canada-Washington border and Malin, Oregon, also settled $48.12/MMBtu above the national benchmark Henry Hub gas price, the EIA said.

PG&E Citygate and Malin, Oregon, reported the highest natural gas spot prices since December 2000, the agency noted, citing pricing data from Natural Gas Intelligence.

The price increases can be attributed to widespread, below-normal temperatures; high natural gas consumption, reduced natural gas flows; pipeline constraints, including maintenance in West Texas; and low natural gas storage levels in the Pacific region, according to the agency.


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