Yesterdays numbers by the EIA reported an 11 Bcf increase in underground natural gas storage from March 12, 2010 to March 19, 2010. As of March 19, there was 1,626 Bcf of natural gas in storage. This puts us 121 Bcf above the 5-year average of 1,505 Bcf. Although this remains within the 5-year average range, it still represents a hefty over-supply of gas that is creating low wellhed natural gas prices. We're close to 2009 prices for an Mcf of gas, which is trading at $3.96 Mcf at the Henry Hub this morning. 2009 average per Mcf was $3.71. If we compare this to $7.95 Mcf in 2008 (see here), we find a huge price disparity. This disparity and current price is being felt by operators and royalty owners alike. I expect low gas prices throughout the rest of the year as we continue to produce tremendous amounts of gas while not having the demand for consumption on the backend.