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Sunday, July 7, 2019

US Natural Gas Production On Pace For One Of Strongest Refill Seasons Since 1994 -- July 7, 2019

New natural gas links:
The reader also noted this EIA note on US natural gas, dated July 2, 2019:
With the fast start to this injection season, 2019 is on pace to see one of the strongest refill seasons since 1994, even if the rate of increase slows.
For example, if net injections into storage match the five-year (2014–2018) average for the remainder of the refill season, cumulative net injections will total 2,399 Bcf by the end of October. If remaining refill season net injections equal the most recent five-year average:
  • the 2019 refill season would be the fifth-largest refill season since 1994<>
  • net injections for the season would exceed the five-year average fill by 16%
  • working gas stocks would total 3,529 Bcf at the end of the refill season—only about 5% lower than the five-year average
The EIA site for above data: http://ir.eia.gov/ngs/ngs.html. 
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2 comments:

  1. AnonymousJuly 7, 2019 at 2:18 PM

    Natgas has been spanking the shale doubters hard lately. They got all excited with the winter price excursion. I tried telling them it was a weather aberration and not something systemic. They wouldn't listen. Now they pay the price on the futures market!

    P.s. That trader site is just repackaging the weekly EIA info:

    http://ir.eia.gov/ngs/ngs.html

    ReplyDelete
    Replies
    1. Bruce OksolJuly 7, 2019 at 2:26 PM

      Thank you. Much appreciated. Will get back to this later.

      Delete

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