Expecting a substantial withdrawal from natural gas from storage to be announced 12/24/09 by the EIA.

Expecting a substantial withdrawal from natural gas from storage to be announced 12/24/09 by the EIA.

Report December 23, 2009 – Comments (0) | RELATED TICKERS: CHK

Mr. Miller is expecting a substantial withdrawal from natural gas from storage to be announced 12/24/09 by the EIA.

Financial traders and short sellers were caught flat footed last week and forced out of their positions.

Natural Gas Producers will continue to benefit substantially from supprise back to back weeks of substantial storage withdrawals going into peak natural gas usage season due to substantial price appreciation for delivered physical product and short futures positions being unwound and short covering en mass.

Mr. Miller expects Natural Gas prices to remain high throughout the winter heat season due to inclimate weather forecast for major consuming regions of the United States and the disposal of the short sellers who have been forced out of the market.

Chesapeake Energy continues to be the industry poster child benefiting the most fom the price rises due to its high leverage and strong production profile.


Buck

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Replies to This Discussion

Permalink Reply by adubu on December 24, 2009 at 7:15
only 166 bcf withdrawal NG future down 0.15
Permalink Reply by JHH on December 24, 2009 at 16:12
I suspect next week's withdrawal will be substantial.. much higher than Thursday's report. Hopefully the price for NG won't drop by twice as much. jhh
Permalink Reply by Spring Branch,mineral owner on December 24, 2009 at 19:26
Even though only a 166 bcf draw, we're headed in the right direction. I'd sure rather sell my gas for $5.00 than $2.00.
Permalink Reply by Les Bamburg on December 24, 2009 at 19:41
That was a good draw compared to historical draws.
Permalink Reply by Scott on December 25, 2009 at 15:34
I imagine we'll be having several good draws in the weeks ahead. Temps looks to be well below normal through the first couple of weeks in January.
Permalink Reply by intrepid on December 25, 2009 at 18:51
I love to see that snow in the north and norteast!

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