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Petrus Resources Ltd T.PRQ

Alternate Symbol(s):  PTRUF

Petrus Resources Ltd. is a Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. The Company has an inventory of low-risk oil and natural gas development assets in its Ferrier, North Ferrier and Thorsby operating areas. Its core area, Ferrier, is a resource play. The Ferrier is a liquid rich Cardium gas play. North Ferrier is an extension of its core Ferrier area. Its Thorsby asset is located in the central part of the province. Its properties, located in the foothills of Alberta, are a more minor area for the Company. The Company is also evaluating Kakwa, an early-stage Dunvegan oil play, for potential further long term development.


TSX:PRQ - Post by User

Post by llerrad5on Feb 12, 2023 4:50pm
581 Views
Post# 35282251

Nat GAs short term and longer term

Nat GAs short term and longer term

Meanwhile, natural-gas supply growth in the U.S. is expected to be somewhat constrained. Oil and gas producers are held back both by capital—investors are favoring companies with spending discipline—and a lack of new pipeline capacity, according to Matthew Palmer, senior director of global gas at S&P Global Commodity Insights. In an email, he noted that growth in the Marcellus and Utica Basins in the eastern U.S. has been capped because no significant long-haul pipelines to downstream markets have entered service since 2019. U.S. natural-gas prices also are set to become more linked to international-demand dynamics as liquefied-natural-gas export capacity grows: U.S. LNG export capacity is set to increase by an additional 40% by 2025.

What could worsen fluctuations even further are extreme weather events, which have become more common since the 1970s. That not only accentuates the highs and lows of natural-gas demand but also can affect supply. Colder-than-expected winter days have already caused more freeze-offs in natural-gas supply in recent years, notes Mr. Rubin. In 2021, a cold blast hitting Texas and neighboring states resulted in the largest monthly decline in U.S. natural-gas production ever and a 70-fold increase in local prices.

There could be a slight reprieve in the short run. The EIA expects U.S. natural-gas production to increase 2% in 2023, while this would be the first year without new LNG export-capacity additions coming online since 2016, when the U.S. began to export LNG from the Lower 48 states. Natural-gas inventory looks healthy, too, with storage exceeding the trailing-five-year average at the moment.

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