EIA NG STORAGE REPORT
| September 13, 2018
September 13, 2018
Please note our extended U.S. and Canada tables covering the injection season are included in the attachment. The EIA reported a +69 bcf net build in inventory this week. The injection was +1 bcf higher than our estimate and +3 bcf higher than the Bloomberg median. The regional breakdown equated to a +67 bcf injection, below the reported total +69 bcf injection due to “independent rounding.” However with the number falling within market consensus and the low Bloomberg survey standard deviati.....
EIA NG STORAGE REPORT
| September 06, 2018
September 6, 2018
The EIA reported a +63 bcf net build in inventory this week. The injection was -3 bcf lower than our estimate and +2 bcf higher than the Bloomberg median. Almost the entirety of the error in our estimate was in the East, which injected 3 bcf less than our estimate, suggesting our models underestimated the full impact of the late season heat on power burns during the reference week. Our preliminary estimate for next week’s number is an injection in the high 60 to low 70 bcf range. While the.....
EIA NG STORAGE REPORT
| August 30, 2018
August 30, 2018
The EIA reported a +70 bcf net build in inventory this week. The injection was -3 bcf lower than our estimate and -8 bcf lower than the Bloomberg median. While our revision this morning got us closer to the salt number this week, the Pacific and Midwest both injected more than we predicted, making our original Tuesday estimate of a 70 bcf build ironically correct – albeit for the wrong reasons. Our preliminary estimate for next week’s number is an injection in the low to mid-60 bcf range. .....
EIA NG STORAGE REPORT
| August 23, 2018
August 23, 2018
The EIA reported a +48 bcf net build in inventory this week. The injection was -7 bcf lower than our estimate and -2 bcf lower than the Bloomberg median. Almost the entirety of our miss this week was in the South Central, which was -8 bcf lower than our flow model for the region. Our preliminary estimate for next week’s number is an injection in the mid 60 bcf range. If we further break down the South Central, the majority of our miss boiled down to salt cavern draws this week. Our sample .....
EIA NG STORAGE REPORT
| August 16, 2018
August 16, 2018
The EIA reported a +33 bcf net build in inventory this week. The injection was +1 bcf higher than our estimate and +4 bcf higher than the Bloomberg median. Most of our miss this week was in our regional breakdown where we overestimated East injections are underestimated Midwest injections. Our preliminary estimate for next week’s number is an injection in the low 50 bcf range. This week again posted a strong summer draw on South Central storage, in part these draws are due to demand within.....
EIA NG STORAGE REPORT
| August 09, 2018
August 9, 2018
Please note our extended U.S. and Canada tables covering the injection season are included in the attachment. The EIA reported a +46 bcf net build in inventory this week. The injection was -1 bcf lower than our estimate and -1 bcf lower than the Bloomberg median. Our overestimate for injections in the East and Midwest were offset by an overestimate in South Central draws this week. Our preliminary estimate for next week’s number is an injection in the mid-30 bcf range. At a +46 bcf injec.....
EIA NG STORAGE REPORT
| August 02, 2018
August 2, 2018
The EIA reported a +35 bcf net build in inventory this week. The injection was -4 bcf lower than our estimate and -8 bcf lower than the Bloomberg median. The regions where we saw the largest miss this week were South Central non-salts and Pacific, with both drawing more than we expected. Our preliminary estimate for next week’s number is an injection in the high 40 bcf range. Over the past two storage weeks the South Central region has drawn more than expected, part of this was due to the .....
EIA NG STORAGE REPORT
| July 26, 2018
July 26, 2018
The EIA reported a +24 bcf net change in inventory this week. The injection was -6 bcf lower than our estimate and -11 bcf lower than the Bloomberg median. Almost the entirety of our error was in the South Central salt draw, which withdrew 6 bcf more than our estimate. Below we delve into the factors that led to this week’s 16 bcf salt pull, which tied a record set on the week ending July 28th, 2016 for the largest summer draw from salt caverns. Our preliminary estimate for next week’s numbe.....
EIA NG STORAGE REPORT
| July 19, 2018
July 19, 2018
The EIA reported a +46 bcf net change in inventory this week. The injection was -12 bcf lower than our estimate and -10 bcf lower than the Bloomberg median. The vast majority (-9 bcf) of our error came from the South Central where both the injections in non-salts were lower than our models expected and the draws from salts were stronger than our models predicted. Due to travelling constraints please see our Rockies Paper published today in lieu of a market commentary. Rockies Paper
EIA NG STORAGE REPORT
| July 12, 2018
July 12, 2018
Please note our extended U.S. and Canada tables covering the injection season are included in the attachment. The EIA reported a +51 bcf net change in inventory this week. The injection was 2 bcf lower than our estimate and 3 bcf lower than the Bloomberg median. Pacific region’s injection came in weaker than our models expected and has the potential of coming in as a net draw this week – helping explain the current tightness in California markets. The sum of the remaining four regions was sp.....