An early Spring is on its way – at least, according to America’s favorite amateur weather forecaster. On February 2, 2016, in the small town of Punxsutawney, Pennsylvania, the folk hero groundhog emerged from his burrow and declared his annual prediction to a crowd recovering from libations the night before. The President of the Groundhog Club spoke on his behalf.
Oil markets are still adjusting to levels of oversupply, but the demand imbalance has become an old hat of sorts for the natural gas industry. El Nino is unlikely to do the gas market any favors in the upcoming winter season. Natural gas inventories are nearing five year highs, as evidenced by EnerCom’s Natural Gas Roundup inventory report, and the
NATURAL GAS INVENTORY (Week Ended 2/27/15) Current: 1,512 Bcf Actual Injection/(Withdrawal): (198) Bcf Economist Average Estimate: (190) Bcf Previous: 1,710 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to
NATURAL GAS INVENTORY (Week Ended 2/27/15) Current: 1,710 Bcf Actual Injection/(Withdrawal): (228) Bcf Economist Average Estimate: (224) Bcf Previous: 1,938 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Storage overview The EIA reported a 228 Bcf storage draw, 3 Bcf above our 225 Bcf estimated
NATURAL GAS INVENTORY (Week Ended 2/20/15) Current: 1,938 Bcf Actual Injection/(Withdrawal): (219) Bcf Economist Average Estimate: (241) Bcf Previous: 2,157 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY CIBC World Markets The EIA revealed a much smaller than expected draw of -219 Bcf relative to market expectations
NATURAL GAS INVENTORY (Week Ended 2/6/15) Current: 2,268 Bcf Actual Injection/(Withdrawal): (160) Bcf Economist Average Estimate: (168) Bcf Previous: 2,428 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Supply/demand trends Over the past four weeks, gas-fired power demand has been trending up ~1.1 Bcfpd y/y,
NATURAL GAS INVENTORY (Week Ended 1/30/15) Current: 2,428 Bcf Actual Injection/(Withdrawal): (115) Bcf Economist Average Estimate: (120) Bcf Previous: 2,543 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Supply/demand trends Over the past four weeks, gas-fired power demand has been trending up ~1.3 Bcfpd y/y, while
NATURAL GAS INVENTORY (Week Ended 1/23/15) Current: 2,543 Bcf Actual Injection/(Withdrawal): (94) Bcf Economist Average Estimate: (110) Bcf Previous: 2,637 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Storage overview The EIA reported a 94 Bcf storage draw, 8 Bcf below our 102 Bcf estimated
NATURAL GAS INVENTORY (Week Ended 1/16/15) Current: 2,637 Bcf Actual Injection/(Withdrawal): (216) Bcf Economist Average Estimate: (229) Bcf Previous: 2,853 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Storage overview The EIA reported a 216 Bcf storage draw, 4 Bcf below our 220 Bcf estimated
NATURAL GAS INVENTORY (Week Ended 1/9/15) Current: 2,853 Bcf Actual Injection/(Withdrawal): (236) Bcf Economist Average Estimate: (227) Bcf Previous: 3,089 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group (1.15.15) Largest Storage Draw Of The Season To Date; Above Consensus Storage overview The EIA reported a 236
NATURAL GAS INVENTORY (Week Ended 1/2/15) Current: 3,089 Bcf Actual Injection/(Withdrawal): (131) Bcf Economist Average Estimate: (121) Bcf Previous: 3,220 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Storage overview The EIA reported a 131 Bcf storage draw, 6 Bcf above our 125 Bcf estimated draw and 12
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