Winter Ain't Over Yet - Feb 21
Posted: Mon Feb 21, 2022 10:51 am
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If Joe's forecast for the first half of March is accurate, it sets up a VERY BULLISH end of winter for natural gas prices. The 5-year average draws from natural gas storage for the five weeks ending April 1st total 202 Bcf. Based on Joe's forecast, my WAG is that draws for that period will now total more than 300 Bcf. That mean end of winter storage could close to 350 Bcf below the 5-year average.
Now is when I'd like to see our gassers layer on some collars with high floors and ceiling over $5.00. The 12-month strip for HH gas is now over $4.65.
I am working on Comstock today and we should be sending out the updated profile on Tuesday morning.
If Joe's forecast for the first half of March is accurate, it sets up a VERY BULLISH end of winter for natural gas prices. The 5-year average draws from natural gas storage for the five weeks ending April 1st total 202 Bcf. Based on Joe's forecast, my WAG is that draws for that period will now total more than 300 Bcf. That mean end of winter storage could close to 350 Bcf below the 5-year average.
Now is when I'd like to see our gassers layer on some collars with high floors and ceiling over $5.00. The 12-month strip for HH gas is now over $4.65.
I am working on Comstock today and we should be sending out the updated profile on Tuesday morning.