EIA NG STORAGE REPORT
| March 17, 2016
March 17, 2016
The EIA reported a -1 bcf withdrawal for the week ending March 10, coming weaker than our own number at -9 bcf, and the Bloomberg median at -4 bcf. As we transition into shoulder season, some fields have started injecting, while others are still withdrawing at a significant pace. The big interstate systems are still withdrawing and it seems that they skewed our flow model towards a stronger withdrawal. Nonetheless, the -1 bcf draw reported by the EIA implies a tighter balance compared to las.....
EIA NG STORAGE REPORT
| March 10, 2016
March 10, 2016
The EIA reported a -57 bcf withdrawal for the week ending March 3, coming in-line with our own number at -58 bcf, and weaker than the Bloomberg median at -60 bcf. The nationwide withdrawal was quite close to expectations, especially compared to the previous two numbers, but regionally the Midwest draw was very tight on a weather adjusted basis as the South Central injected. Either the Midwest or the South Central seem to always be involved in the weekly “surprise” discussion and their inte.....
EIA NG STORAGE REPORT
| March 03, 2016
March 3, 2016
The EIA reported a -48 bcf withdrawal for the week ending February 25, coming in significantly stronger than our own number at -31 bcf, and the Bloomberg median at -39 bcf. This is a complete reversal of last week’s implied supply and demand balance and in line with the week ending February 11, when the EIA reported a -163 bcf withdrawal. Regionally the South Central has a stronger withdrawal than expected, but the Midwest was the biggest outlier coming in with an additional 10 bcf draw comp.....
EIA NG STORAGE REPORT
| February 25, 2016
February 25, 2016
The EIA reported a -117 bcf withdrawal for the week ending February 18, coming in significantly weaker than our own number at -132 bcf, and the Bloomberg median at -136 bcf. This implies a material loosening of the weather-adjusted supply and demand balances following last week’s strong withdrawal. Regionally, South Central was responsible for all of the miss compared to our expectations. South Central was also responsible for almost the entire difference compared to the previous week’s withdr.....
EIA NG STORAGE REPORT
| February 18, 2016
February 18, 2016
The EIA reported a -158 bcf withdrawal for the week ending February 11, coming in stronger than our own number at -150 bcf, and the Bloomberg median at -152 bcf. Following the recovery in power burns last week, this draw implied the tightest weather-adjusted supply and demand balance for the year so far. Regionally the surprise came from a larger than expected draw from salt-dome facilities, but that was not because our model was skewed by last week’s bearish miss. Last week we talked abou.....
EIA NG STORAGE REPORT
| February 11, 2016
February 11, 2016
Please note our extended U.S. and Canada tables covering the remainder of the withdrawal season are included in the attachment. The EIA reported a -70 bcf withdrawal for the week ending February 4, coming in weaker than our own number at -76 bcf, and the Bloomberg median at -77 bcf. This implies a significant loosening of the supply and demand balances due to very weak power burns at the beginning of the reference week. Regionally, the biggest surprise was the +9 bcf injection into salt-dom.....
EIA NG STORAGE REPORT
| February 04, 2016
February 4, 2016
The EIA reported a -152 bcf withdrawal for the week ending January 28, coming in-line with our own number at -151 bcf, and stronger than the Bloomberg median at -150 bcf. The draw implies a looser balance versus the previous week as a result of the demand destruction brought on by superstorm Jonas. However, this weekend we saw a further loosening of the supply and demand balance driven primarily by weak power burns. Last week we said that the supply and demand balance implied by the EIA .....
EIA NG STORAGE REPORT
| January 28, 2016
January 28, 2016
The EIA reported a -211 bcf withdrawal for the week ending January 21, coming in-line with our own number at -211 bcf, and stronger than the Bloomberg median at -207 bcf. The regional breakdown was also close to expectations once allowing for rounding errors. This implies another tightening of the balances compared to the previous week as the EIA number once again agrees with scrape models rather than the weather-driven supply and demand models. Last week we talked about the temporary na.....
EIA NG STORAGE REPORT
| January 21, 2016
January 21, 2016
The EIA reported a -178 bcf withdrawal for the week ending January 14, coming in weaker than our own number at -188 bcf, and the Bloomberg median at -184 bcf. Despite stronger scrapes week-on-week, the EIA was once again more in-line with weather-driven supply and demand models rather than flow models. The biggest surprise was in the East where the reported draw was 11 bcf smaller than last week, while the very strong draw in the Midwest was in-line with expectations. Adjusted for the ho.....
EIA NG STORAGE REPORT
| January 14, 2016
January 14, 2016
The EIA reported a -168 bcf withdrawal for the week ending January 7, coming in weaker than our own number at -175 bcf, and the Bloomberg median at -178 bcf. This would be the third week in a row of alternating surprises from the EIA following a pretty good start since they released the new regional breakdown. Regionally, the main culprit remains the Midwest as it combines with the East and South Central to swing by close to 1 bcf/d week-on-week compared to our expectations. The holiday e.....