Nat Gas supplies declines 135 BCF still storage 23 BCF above last year--But it's getting Cold

Supplies fell 135 billion cubic feet for the week ended Dec. 28, the EIA said.
Analysts polled by Platts forecast a decline between 133 billion cubic feet and
137 bcf. Total stocks now stand at 3.517 trillion cubic feet, up 23 billion
cubic feet from the year-ago level and 389 billion cubic feet above the
five-year average, the government said. February natural gas was at $3.28 per
million British thermal units, up 8 cents, or 2.5%. It was trading around $3.25
shortly before the data, which had been delayed due to the New Year's Day
holiday. March natural gas /quotes/zigman/2294272 NGH13
+1.46% added
8 cents, or 2.4%, to $3.29.

Views: 766

▶ Reply to This

Replies to This Discussion

Permalink Reply by Two Dogs, Pirate on January 4, 2013 at 16:56

My uncle was a young up and commer with a company that would become CLECO. He came up through a company that started as an ice  company and became an electrical & natural gas provider through-out central Louisiana. He was the one that told me of the price in 1950.

Permalink Reply by adubu on January 4, 2013 at 17:34
2dog --I would never question your uncle but I thought the price of nickel was early 60s. I remember tout line fishing for cat fish early mid 50s Black Lake off River near Jena,La and sky always bright at night from gas flaring on wells around .
Permalink Reply by dbob on January 4, 2013 at 17:40

Jena was oil development and largely still is.  

Permalink Reply by adubu on January 5, 2013 at 5:12
dbob-- yep oil wells with good gas pressure to flow the well so pumping not required. Not much market then for gas basically was waste and easier to flare no cost. Now EPA will not allow except for ultrashort time to complete well and connect gas to pipeline or recycle into well. What formation and depth is the oil field around Jena? How much these wells produce? It is still active in area for I have not been back to area for decades. I am East Texan
Permalink Reply by Frank on January 4, 2013 at 13:41

Don't ignore the fact that low gas prices took out low efficiency dirt burners while the nukes were getting wrenches all summer.  Those facts changed the gas burn percentage for electric energy far more than a structural shift in my opinion.  How many coal plant licenses were closed when they went down during the air conditioning season?  None, I bet.  They can fire back up if coal becomes favorable again.  Power generation has locked gas to lower prices in competition in my opinion due to the oversupply.  This still isn't a green sort of economy in spite of the PR that corporations tout in the press.

Permalink Reply by adubu on January 4, 2013 at 15:31
Frank-- very true what we need is more demand usage like the chemical companies and then one day get the LNG exports going

RSS

Support GoHaynesvilleShale.com

Top Content 

1 "Rebalancing Volumes"

"Rebalancing Volumes"
2 BPX hits it out of the park with 3 Bossier Parish CULs

BPX hits it out of the park with 3 Bossier Parish CULs
3 Lithium Brine Lease letter from Red Oak East, LLC - Location Cass County, TX, near Naples, TX

Lithium Brine Lease letter from Red Oak East, LLC - Location Cass County, TX, near Naples, TX
4 Texas Smackover Lithium Play

Texas Smackover Lithium Play
5 Why powering data centers with gas fired electricity comes with problems

Why powering data centers with gas fired electricity comes with problems
6 Tariffs, Financial Uncertainty Complicate Data Center Development

Tariffs, Financial Uncertainty Complicate Data Center Development
7 Bienville Parish lease offer

Bienville Parish lease offer

Blog Posts

Tuscaloosa Trend Sits On Top Of Poorest Neighbourhood For Decades - Yet No Royalties Ever Paid To The Community -- Why??

In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of)  nor local residents appear to have received any compensation for the minerals extracted from their land.

This area has suffered immense environmental degradation…

Continue

Posted by Char on May 29, 2025 at 14:42

Not a member? Get our email.

Groups



© 2025   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service