Alternatives

July 1, 2022

E&P Third Quarter 2022

Bakken

Executive Summary

Oil prices declined in the third quarter of 2022, as West Texas Intermediate (WTI) and Brent Crude front-month futures ended the quarter at about $79/bbl and $85/bbl, respectively — a decrease from $108/bbl and $112/bbl, respectively, at the start of the quarter.  Natural gas was more volatile, with Henry Hub front-month futures settling at $6.77/mmbtu on 9/30/2022 — an increase from $5.71/mmbtu to start the quarter — but below the highs in the second half of August, topping out at $9.71/mmbtu. Natural gas prices recovered in the third quarter of 2022, after the sharp decline in mid-June after news that a Freeport LNG facility would be offline longer than anticipated, giving rise to over-supply fears. 

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