Energy Prospectus

Working gas in storage was 1,830 Bcf as of Friday, March 31, 2023, according to EIA estimates.
This represents a net decrease of 23 Bcf from the previous week.
Stocks were 443 Bcf higher than last year at this time and 298 Bcf above the five-year average of 1,532 Bcf.
At 1,830 Bcf, total working gas is within the five-year historical range.

4th week in a row that storage draws have exceeded the five-year average, reducing deficit to the 5-year average by 105 Bcf during March.

We might see one more small draw for the week ending April 7. There is still some real winter weather up north.
The 5-year average is a build of 44 Bcf for first week of April, so we should see the surplus to the 5-year average shrink in April.

Attention should soon shift to the amount of natural gas being burned for power generation. Utilities that bring electricity to your home or business are going to do as much coal-to-ngas fuel switching they can at today's natural gas prices. This is just one of the ways the U.S. natural gas market will balance this quarter.

EOS 1830 > very very bad!

Inventories for the US are now at a surplus of 443 Bcf to last year !! Very very bad

No more draws

Amazed that ng isn’t in the 1’s and crk trading so strong at 10 ish

Producers can’t stop on a dime.

Names will get hammered on earnings release

Avoid all until further notice!

Have a Nice day !

Don’t make decisions or trade on emotion.

Global gas markets remain in a long-term structural deficit, the supply and demand fundamentals did loosen on a short-term basis compared to last spring.

In the US, curtailed LNG export capacity following the Freeport fire drove the loosening.

In Europe, the market loosened dramatically due to much milder than typical winter weather.

Both of these factors were one-time and are unlikely to repeat going forward.

Between June 8th, 2022, and January 31st, 2023, Freeport lost two bcf/d of exports or 474 bcf of total demand. You can do the math on where the storage level would be (even with a mild winter) if Freeport did not go offline.

CRK Strategy playing out nicely that is if you truly understand it.

Have a great weekend.