Natural Gas Storage Report - April 15

dan_s · Post by **dan_s** » Fri Apr 22, 2011 6:31 pm

Working gas in storage was 1,654 Bcf as of Friday, April 15, 2011, according to EIA estimates. This represents a net increase of 47 Bcf from the previous week. Stocks were 165 Bcf less than last year at this time and 23 Bcf above the 5-year average of 1,631 Bcf.

This is mildly bullish for natural gas. I still think we will see NG prices dip during the summer but maybe not as low as $3.50. If NG can hold above $4.00 it would be good for most of the Sweet 16.

I just finished a profile on Cabot Oil & Gas (COG). This is one of the few gassers I can recommend now. Plus, they are focused on building liquids production with an aggressive Eagle Ford drilling program.