EIA Natural Gas Storage Report - Feb 22

[dan_s]

Working gas in storage was 2,470 Bcf as of Friday, February 16, 2024, according to EIA estimates.
This represents a net decrease of 60 Bcf from the previous week.
Stocks were 265 Bcf higher than last year at this time and 451 Bcf above the five-year average of 2,019 Bcf.
At 2,470 Bcf, total working gas is above the five-year historical range.

Only a much colder than normal March in the eastern half of the U.S. will increase ngas prices in the near-term.

[ChuckGeb]

CRK taking 2 or 3 more rigs out of Hayneville and delaying completions until September would give gas prices a boost. They are losing money on drilling at current prices. A substantive pause would help everybody.

[dan_s]

Market forces will work this out, but it will take a few months.

You are 100% correct that the gassers should not be completing high decline rate horizontal gas wells with HH ngas under $2.00. The BOD of these companies should be putting pressure on management to do so.