Higher Gas Prices Are Coming

Higher Gas Prices Are Coming

Article Review : True.Land

The summer has come with a bang, and after a subdued shoulder season for North American gas markets, demand is expected to soar.

Rigzone reports : Ade Allen, a Rystad Energy Analyst, made this statement in a Tuesday update to Rigzone on the North American gas and LNG market.

As temperatures climb across the area and more cooling is required in homes and businesses, Allen warned that gas prices will soon increase. “Strong supply and cooler weather kept prices low in the last few months,” Allen said in the report.


“The frequency of Cooling Degree Days (CDDs) has a significant impact on gas demand,” he continued. “And as much of the U.S. deals with a crippling early-summer heat wave, there will be a material uptick in gas demand.”


Due to minimal coal-to-gas switching and domestic gas prices being competitive, Allen highlighted in the report that Rystad modeling predicts daily Lower 48 gas power consumption will approach 50 billion cubic feet per day this summer.


In the summer months of June through August, Allen stated, “We expect gas for power demand to average 42.4 billion cubic feet per day, with demand peaking in July at 45.0 billion cubic feet per day.”

“South-Central and East regions will utilize the most, averaging 12.7 billion cubic feet per day and 18.5 billion cubic feet per day, respectively,” the author continued.


Trajectory of CDDs

As Rigzone reported :
Domestic balances would be significantly impacted by rises in gas-for-power demand as the trend of CDDs alters with warmer weather, Allen said in the report.

“Our estimates indicate CDDs will average 332 Fahrenheit days over the summer period (June to August), which is comparable with the same period in 2022,” he continued.

“Weather is unpredictable and our forecasts are conservative as a result, so if temperatures are warmer than the three-year average, gas for power demand averages will be higher than expected,” the meteorologist added.

As temperatures in Texas are predicted to average above 100 degrees Fahrenheit this week, possibly stressing the system, Allen warned that this week might be a forerunner for regional gas demand overshooting predictions.

According to the Electricity Reliability Council of Texas (ERCOT), natural gas made up around 56% of the fuel mix as of yesterday (Monday), Allen added.

“At those levels, natural gas is running at around 81 percent utilization relative to summer capacity, so if temperatures remain elevated, the regional market can expect higher gas demand,” he continued.

To Read More on the article : https://www.rigzone.com/news/pricier_gas_is_on_the_horizon-22-jun-2023-173154-article/
Photo by Elena Mozhvilo on Unsplash

The Land Management Software of Texas

The Name Is True Land

There’s great news for those who are entering the land exploration business. Its name is True Land. With True Land, you will be able to manage projects in real-time. Associate landmen are able to input their project details, expenses, and project details into one centralized database with an easy-to-use interface.

Custom Reporting

Our lead programmers are standing by and can build you customized reports based on the needs of your clients.

Custom Pay Rates

Not all projects are created equal. So we have a system that allows you to customize the pay rates, per project, per landman. Tailor your expense lists per project including meals, lodging, and much more.

Integrate Courthouse Data

Get the ability to actively search through the your courthouse data with our internal search feature. Don’t waste anymore time searching for documents or going to the courthouse to make copies, utilize True Land’s centralized system to organize everything for you.

Streamline Billing

It can be a chore adding new expense fields to your billing statements which include Reference Numbers, AFE Numbers, Abstract Numbers, and more based on your client’s request. Prospect cost-analysis, invoice reports, are all battle-tested from those who are working in the field by company owners and landmen both.

We believe in simplicity and focus. True Land can give you security, privacy, and centralization to manage your projects easier.

Oil and Gas Production Is Booming

Oil and Gas Production Is Booming

Last year, the oil and gas industry broke records in production and positive forecasting for December. In fact, oil production in North Dakota hit 1.4 million barrels per day. Which is a 2% increase within just one month’s time.

And you think that’s impressive? Gas jumped by 5%. All of these record-breaking metrics were attained despite the 35,000 barrels per day self-restriction placed on the industry.

And North Dakota isn’t the only case where that is happening.

Texas has been reported to be breaking the 1970s records of crude oil production. Over 25,000 new oil and gas jobs have been added. Texas has the largest gains, along with Oklahoma, New Mexico, and North Dakota.

There is no end in sight for the demand of the oil and gas industry to stop any time soon.

If you are a professional landman, you need to consider our True Land Oil & Gas Management Software.

The True Land software can empower professional landmen, like yourself, to attain the level of efficiency and effectiveness for the industry and rank among the industry leaders in a matter of months instead of years.

Take the first step today. Call our programming professionals at 903-531-0377 to learn more.

Excel Doesn’t “Excel” For Landmen

Excel Doesn’t “Excel” For Landmen

Once upon a time, landmen and land companies used Excel Spreadsheets to input all of their records and data. Oftentimes, these records would have issues such as incorrect data, improper calculations, and can easily become unorganized in the process of the natural business cycle. When you’re working in the land management business, time is of the utmost importance. While Excel has many great features, Excel as an application can be an ineffective system.

1. Reporting

A major flaw with Excel is that no matter how you build a report for a customer, it’s always going to look like an Excel spreadsheet. When you’re trying to get business in the door, land businesses should have only one thing on their mind at this stage in the process – “What does this say about our business?” Sending out an Excel spreadsheet doesn’t exactly scream “land professional”. With land management systems, like True Land, all of your reports come at just the click of a button with a professional PDF template to send to potential clientele.

2. Organization

The days of constantly scanning documents, organizing them in folders, and hiring a lot of administrative staff can be reduced significantly with land management applications. Allow your administrators to focus on keeping and maintaining clients. The True Land software, unlike Excel, allows for a more efficient research solution. Looking up project information and details has never been easier and more “real”. Real-time data allows for land professionals to be “in-the-know” with what is going on with their employees and centralize all important information into one application. With Excel, it can be delayed based on the workload of the individual(s). Reduce overhead and save money with a land management system like True Land.

3. Customizability

Excel is a static application. Meaning, Microsoft will likely not take into account how you do business or what your needs are for your business. It provides a lot of variety of resources but it does not work with you or will be willing to talk with you about your needs. The original programmers of True Land are able and willing to talk to you about what you will need for your business. If it’s a custom report, done. If it’s a change in viewability, or who can view certain records and who cannot. The fact is that True Land is much more than a land application. It’s a serviceable experience that’s meant to make land professional life easier.

At the end of the day, it all comes down to cost. Should you hire additional employees to maintain Excel spreadsheet records? Or would it be better suited to purchase an application at a low monthly rate? The numbers speak for themselves. If you are looking to start a land business or transition from Excel, you may call us at 903-531-0377 or on our Contact Form below. We look forward to hearing from you!

The Future Of The Oil & Gas Industry

The Future Of The Oil & Gas Industry

Ever since the 2014 crash, the oil and gas industry has been thinking more about utilizing alternative renewable energy resources. In order to stay competitive oil and gas companies need to come up with innovative ways of keeping their industry flowing effortlessly. However, things are looking up for the industry due to technological advancements.

Some key points to keep in mind moving forward
  • Smart Drilling
  • Blockchain
  • Understanding the relativity of fossil fuels and renewable fuels
  • Smart oilfield technology

Over the next several months we are going to be writing about these topics, as well as paying attention to the ever-changing climate of the industry. Our goal is to keep you informed and involved this year and in the years to come. Our company knows that each year will bring more demand for technological utilization in this industry. We are always here to help you find out what will best help your business. Give us a call today to learn more.

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