EIA NG STORAGE REPORT
| April 14, 2016
April 14, 2016
The EIA reported a -3 bcf withdrawal for the week ending April 7, coming in tighter than our own number at +4 bcf, and the Bloomberg median at +3 bcf. The stronger than expected withdrawal in the East explains most of the difference to our expectations and could be a result of the much colder than normal weather in the region. While our scrape sample could not justify such a large withdrawal in the East, the weather-driven supply and demand models underestimated the draw as well. Last week.....
EIA NG STORAGE REPORT
| April 07, 2016
April 7, 2016
The EIA reported a +12 bcf injection for the week ending March 31, coming in slightly above our own number at +8 bcf, and the Bloomberg median at +8 bcf. Reported South Central injection was significantly higher than our estimates, while East and Midwest withdrawals came in stronger than our models suggested. There will be no commentary today. Please note our extended U.S. and Canada tables covering the injection season are included in the attachment.
EIA NG STORAGE REPORT
| March 31, 2016
March 31, 2016
The EIA reported a -25 bcf withdrawal for the week ending March 24, coming in line with our own number at -25 bcf, and the Bloomberg median at -25 bcf. Regional draws and builds came in line with expectations as well, implying relatively normal operational conditions compared to the elevated volatility of the recent few weeks as inventory surplus reached record levels. After five weeks of steady inventory increases, this was also the first week during which the year-on-year inventory surpl.....
EIA NG STORAGE REPORT
| March 24, 2016
March 24, 2016
The EIA reported a +15 bcf injection for the week ending March 17, coming lower than our own number at +22 bcf, and the Bloomberg median at +21 bcf. The surprise draw of -6 bcf leaves the Midwest as the only region still in the withdrawal season. However, despite the early end to the withdrawal season this year, the +15 bcf build implies a considerable week-on-week tightening of the supply and demand balances We did see a significant decline in production combined with lower net imports fr.....
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.....