Nat Gas prices fall after EIA supply data this AM 11/29
10:36AM
Natural gas falls further after EIA supply data ( NGF13 )
SAN FRANCISCO (MarketWatch) -- Natural-gas futures lost more ground Thursday after the Energy Information Administration reported that inventories of the commodity unexpectedly rose 4 billion cubic feet for the week ended Nov. 23. Analysts polled by Platts expected a withdrawal of between 9 billion cubic feet and 13 billion. Total stocks now stand at 3.877 trillion cubic feet, up 26 billion cubic feet from the year-ago level and 190 billion cubic feet above the five-year average, the government said. January natural gas (ngf13) was at $3.67 per million British thermal units, down 13 cents, or 3.4%. It was trading around $3.72 shortly before the data
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Replies to This Discussion
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Permalink Reply by Frank on
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That and another greenhouse winter shaping up. Canada needs to help us out with an ice blast, or three.
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Permalink Reply by P.G. on
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Aren't the days gone when winter weather has much effect on prices other than just temporary speculator driven spikes...especially with all the new technology they are using these days?...
I mean how many capped wells would be required open up to make up for any weather related load on supply nowadays...?
We need new uses and markets...
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Permalink Reply by Henry on
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I may be mistaken, but I seem to recall that CHK is no longer hedged. Are they at the mercy of these low prices? How painful is this for them?
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Permalink Reply by Krkyoldhag on
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On CHK must not be too painful...3 wells in Denton area usually pay $2500 this month check was $25 but they sent another huge glossy mag thru the mail telling how well they doing. Well they may be but the royalty holders are not doing so well in Denton right now.
Just have to ride this slump out and see where it all washes up.
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Permalink Reply by olddog573 on
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What really lets you know they are crooks is when they do the following to you:
1. Pay you a 1.00/CF less than another company pays on same well
2. Pay you 0.50/CF less than themselves on same well different lease, and what really stinks on this one is the one you get paid less on is the one where the contract says no deductions
3. No consistency when it comes to paying/CF across 4 wells adjoining sections.
In referance to the glossy mag Krkyoldhag, they are really good at patting themselves on the back and painting a nice image of theirselves but as far as I'm concerned they ........ I won't say anymore for fear of embarrising myself.
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