Working gas in storage was 1,281 Bcf as of Friday, April 20, 2018, according to EIA estimates. This represents a net decrease of 18 Bcf from the previous week. Stocks were 897 Bcf less than last year at this time and 527 Bcf below the five-year average of 1,808 Bcf. At 1,281 Bcf, total working gas is within the five-year historical range.
Three draws from storage in April!
The 5-year average for the first three weeks of April is a BUILD of 130 Bcf. This year we've seen DRAWS of 73 Bcf.
Just as important is that the "Shoulder Season" is now cut in half. If HOT SUMMER arrives in Texas and across the South in June, natural gas supply/demand is going to get VERY TIGHT this summer. More gas pipelines are coming online, but we will need every mcf to rebuild storage before next winter arrives.
HOT SUMMER = more demand for natural gas because we have some many more gas fired power plants across the nations than we had five years ago. Plus, exports and industrial demand for gas are also on the rise.
Maybe Jerry Jones is on to something (taking control of CRK).
Natural Gas Storage Report - April 26
Natural Gas Storage Report - April 26
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group