LNG

Dec 5 (LNGJ) - The Texas Petro Index declined in October for the 23rd straight month, though just by 0.1 point to 149.1 as higher wellhead prices sparked more drilling and permitting activity, offsetting the effects of continuing oil and gas production declines. Feed-gas for future and current LNG exports come from Texas feed-gas among other sources. According to the TPI, natural gas prices in Texas this year through October were about 14.3 percent less on average than in the first 10 months of 2015. Prices in October averaged $2.91 per thousand cubic feet. Natural gas output in Texas during October was down about 8 percent compared with the same month in 2015, while gas production in Texas for the first 10 months was down about 6.5 percent compared with 2015. The posted price for West Texas Intermediate crude averaged $46.31 per barrel in October, the highest monthly average since July 2015.