Natural Gas Storage Report - Sept 16
Posted: Fri Sep 20, 2013 10:33 am
Working gas in storage was 3,299 Bcf as of Friday, September 13, 2013, according to EIA estimates. This represents a net increase of 46 Bcf from the previous week. Stocks were 187 Bcf less than last year at this time and 18 Bcf above the 5-year average of 3,281 Bcf.
This report is bullish for Ngas but we are now entering the "Shoulder Season" and storage levels should build until November.
In the EIA's weekly Nat Gas report flooding in Colorado resulted in well closures and production shut-ins. On Tuesday, the Colorado Oil and Gas Association said 1,900 oil and natural gas wells had been shut in because of floods. Also, Colorado Interstate Gas Company on Monday declared force majeure, rendering two pipeline segments out of service. The declines in supply may have contributed to increases in the 30-cent range at most Colorado trading points.
This report is bullish for Ngas but we are now entering the "Shoulder Season" and storage levels should build until November.
In the EIA's weekly Nat Gas report flooding in Colorado resulted in well closures and production shut-ins. On Tuesday, the Colorado Oil and Gas Association said 1,900 oil and natural gas wells had been shut in because of floods. Also, Colorado Interstate Gas Company on Monday declared force majeure, rendering two pipeline segments out of service. The declines in supply may have contributed to increases in the 30-cent range at most Colorado trading points.