Natural gas storage falls 100 BCF below 5 year average..
http://ir.eia.gov/ngs/ngs.html
Working gas in storage was 3,614 Bcf as of Friday, November 29, 2013, according to EIA estimates. This represents a net decline of 162 Bcf from the previous week. Stocks were 200 Bcf less than last year at this time and 104 Bcf below the 5-year average of 3,718 Bcf. In the East Region, stocks were 158 Bcf below the 5-year average following net withdrawals of 78 Bcf. Stocks in the Producing Region were 32 Bcf above the 5-year average of 1,191 Bcf after a net withdrawal of 68 Bcf. Stocks in the West Region were 22 Bcf above the 5-year average after a net drawdown of 16 Bcf. At 3,614 Bcf, total working gas is within the 5-year historical range.
Views: 638
Replies to This Discussion
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Permalink Reply by Frank on -
Accountants getting the books straight for year end? It's a large shift on the graph. I haven't been that cold.
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Permalink Reply by Two Dogs, Pirate on
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The weather is fixing to get colder in DeSoto Parish in the next couple of days.
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Permalink Reply by Matthew Kable on
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Even way out west here in central California, the temps have been in the mid-20's, which is WAY below the normal low for this time of year. They're even talking the possibility of snow here overnight, which hasn't happened since 1999. Looking for a big drawdown in the Dec. 6 numbers next week myself.
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Permalink Reply by adubu on
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Matthew--- All the Liberal Demos in Calif have no worry Obama alterative solar energy will keep you warm LOL
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Permalink Reply by adubu on
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this is major cold period this week for December I would not be surprised to see > 200 bcf draw down for week ending 6 December ---
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you may well be correct, sir.
this arctic air mass & the follow on one to get here in two or three days IMO resemble some in prior years that caused major field zone well freeze offs. it's always a hoot when that happens.
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Permalink Reply by tc on
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This week has been warm. Pittsburgh was 64 yesterday, Chicago was 57 on Wed. You need to look at a weather map, population map and a NG penetration map before you make draw down predictions. For example the whole state of North Dakota only has 700,000 people so the temperature in Columbus OH with 800,000 people is more important than the temperature for whole state of North Dakota. Does Mr. Kable & fellow neighbors in central CA uses NG furnaces to heat their homes or do they use electricity that most likely in CA is not generated by NG.
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the weather hasn't hit there yet. IMO that's why the Jan14 contract hasn't popped any more than it has. that notwithstanding, i've always said it's a fool's errand to try to predict NG prices.
FWIW, yesterday the EIA said the last week of Nov 13 had the largest drawdown of any week of any Nov since they've been keeping records. Of course, it's a gov't production so it may be taken with some salt.
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