Summary
Working gas in storage was 2,721 Bcf as of Friday, June 26, 2009, according to EIA estimates. This represents a net increase of 70 Bcf from the previous week. Stocks were 615 Bcf higher than last year at this time and 467 Bcf above the 5-year average of 2,254 Bcf. In the East Region, stocks were 112 Bcf above the 5-year average following net injections of 55 Bcf. Stocks in the Producing Region were 252 Bcf above the 5-year average of 749 Bcf after a net injection of 4 Bcf. Stocks in the West Region were 102 Bcf above the 5-year average after a net addition of 11 Bcf. At 2,721 Bcf, total working gas is above the 5-year historical range.
Black Blade: We ahve another grim report for natural gas injections. From here on any report will be grim as we run short of storage capacity. Temps have been moderate or even cooler than expected and this means that air conditioning demand is virtually nonexistent. Industrial demand has also fallen off a cliff as the Greater Depression deepens. e are effectively out of pure play natural gas and only in a few well positioned Trusts and Master Limited Partnerships with long term hedges. This will be a very rough Summer for energy investors.
Working gas in storage was 2,721 Bcf as of Friday, June 26, 2009, according to EIA estimates. This represents a net increase of 70 Bcf from the previous week. Stocks were 615 Bcf higher than last year at this time and 467 Bcf above the 5-year average of 2,254 Bcf. In the East Region, stocks were 112 Bcf above the 5-year average following net injections of 55 Bcf. Stocks in the Producing Region were 252 Bcf above the 5-year average of 749 Bcf after a net injection of 4 Bcf. Stocks in the West Region were 102 Bcf above the 5-year average after a net addition of 11 Bcf. At 2,721 Bcf, total working gas is above the 5-year historical range.
Working Gas in Underground Storage Compared with 5-Year Range  |
Black Blade: We ahve another grim report for natural gas injections. From here on any report will be grim as we run short of storage capacity. Temps have been moderate or even cooler than expected and this means that air conditioning demand is virtually nonexistent. Industrial demand has also fallen off a cliff as the Greater Depression deepens. e are effectively out of pure play natural gas and only in a few well positioned Trusts and Master Limited Partnerships with long term hedges. This will be a very rough Summer for energy investors.
