Locator: 51882B.
AAPL:
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Back to the Bakken
WTI: $89.27.
New wells reporting:
- Friday, October 9, 2026: 14 for the month, 14 for the quarter, 513 for the year,
- 41914, conf, Devon Energy, Scha 33-34 6H,
- Thursday, October 8, 2026: 13 for the month, 13 for the quarter, 512 for the year,
- 42233, conf, Whiting, Cliffside Federal 5103 41-7 5B,
- 41485, conf, Devon Energy, Barbara 31-30F 3H,
RBN Energy: EU to miss overall natural gas storage target, mostly due to German shortfall. Link here. Archived.
As summer has progressed into fall, the trade press has become increasingly skeptical about whether Europe can adequately replenish its underground natural gas reserves in the wake of a colder-than-expected winter, which was followed by the loss of LNG supply due to the Persian Gulf conflict. The European gas year started on October 1 and European Union (EU) underground gas storage facilities are just over 70% full and growing slowly, to the extent that Europe cannot meet its storage targets. In today’s RBN blog, we explain why Europe, and Germany specifically, finds itself in a precarious situation and look at what might be done.
First, the statistics on overall EU gas storage are striking but do not tell the full story. The shortage resides primarily with Germany, which boasts 22% of the EU’s total gas storage capacity but where gas stocks are only 59% full. Removing Germany’s storage capacity from the EU total shows that storage levels across the remaining 26 nations are 80% full, which is not immediately concerning. (As we noted in Out of Gas, the EU aims to have inventories 90% full by November 1 each year. The target was established in 2022 in response to the Russian gas crisis and the extremely low inventories of 2021. Because of high costs and market constraints, the EU decided in April to relax its November 1 target to 80%.) However, Germany’s storage position remains delicate, with storage levels since April (red line in Figure 1 below) well below the previous year (blue line) and the normal range from October 2018 to September 2021 (gray-shaded area), the last full gas years before Russia’s invasion of Ukraine in early 2022.