WEEKLY NG MARKET COMMENTARY | January 06, 2019

January 6, 2019

Please follow the link below to find our weekly natural gas commentary report, highlighting key trends in this week’s natural gas market.


NORTH AMERICAN RIG WATCH | January 04, 2019

January 4, 2018

US: Baker Hughes shows 1075 active rigs as of January 04, 2019, lower by -8 from the previous week. Oil rigs decreased by -8 to 877 (ht: unch; vt-dir: -8), and gas-directed rigs were unchanged at 198 (ht: unch; vt-dir: unch). Horizontal oil rigs increased by +1 in Permian (TX) and by +1 in Other areas not associated with a specific play, while declining by -1 in Bakken (ND) and by -1 in Monterey (CA). Canada: Baker Hughes shows 76 active rigs as of January 04, 2019, higher by +6 from the pr.....


EIA NG STORAGE REPORT | January 04, 2019

January 4, 2018

The EIA reported a -20 bcf decrease in inventories this week. It turns out our bearish estimate was in fact too bullish, with the number coming in -8 bcf below our estimate and a stunning -25 bcf below the Bloomberg median. The regions where we saw the largest misses were the Midwest, where our models overestimated draws by 4 bcf and Salt Cavern storage in the South Central where we underestimated injections by 4 bcf. Our initial estimate for the week ending January 3rd is a draw in the high.....


NGL MARKET RECAP | January 04, 2019

January 4, 2019

Attached is this week’s NGL Market Recap, which provides an overview of U.S. propane statistics as well as global LPG prices, ratios and fractionation spreads.


NORTH AMERICAN RIG WATCH | December 28, 2018

December 28, 2018

US: Baker Hughes shows 1083 active rigs as of December 28, 2018, higher by +3 from the previous week. Oil rigs increased by +2 to 885 (ht: +4; vt-dir: -2), and gas-directed rigs increased by +1 to 198 (ht: +1; vt-dir: unch). Horizontal oil rigs increased by +2 in Permian (TX) and by +2 in Other areas not associated with a specific play. Horizontal gas rigs increased by +1 in Haynesville (LA). Canada: Baker Hughes shows 70 active rigs as of December 28, 2018, lower by -61 from the previous we.....


CFTC COT | December 21, 2018

Commitments of Traders Report – December 21, 2018

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ended December 18. We provide all Legacy and Disaggregated trader positions for natural gas, WTI , Brent, gasoline, heating oil and gasoil. Non-commercials increased net length in gasoline, natural gas, gasoil and WTI , but decreased in Brent and heating oil during the reference week. Non-commercials net length in natural gas rose by +4.7k to +309.2k in futures and grew by +4.8k t.....


NORTH AMERICAN RIG WATCH | December 21, 2018

December 21, 2018

Note: This is the last North American Rig Watch of 2018. We will return on January 4, 2019. US: Baker Hughes shows 1080 active rigs as of December 21, 2018, higher by +9 from the previous week. Oil rigs increased by +10 to 883 (ht: +15; vt-dir: -5), and gas-directed rigs decreased by -1 to 197 (ht: -2; vt-dir: +1). Horizontal oil rigs increased by +4 in Permian (NM), by +3 in Bakken (ND), by +2 in Permian (TX), by +1 in Anadarko (OK), by +1 in Barnett Combo (TX), by +1 in Eagle Ford (TX).....


EIA NG STORAGE REPORT | December 20, 2018

December 20, 2018

Please note: due to the upcoming holidays this will be the final Natural Gas EIA Storage report of the year, the reports will resume on the first week of January. The EIA reported a -141 bcf decrease in inventory this week. This draw was +6 bcf more than our estimate and +7 bcf above the Bloomberg median. Our initial estimate for the week ending December 20th is a draw in the high 40s. The two regions where we saw the largest misses this week were the Northeast which drew 3 bcf more than.....


NGL MARKET RECAP | December 19, 2018

December 19, 2018

Attached is this week’s NGL Market Recap, which provides an overview of U.S. propane statistics as well as global LPG prices, ratios and fractionation spreads.


U.S. NATURAL GAS TRADE AND POWER SECTOR DEMAND | December 18, 2018

December 18, 2018

Please note: due to the upcoming holidays this will be the final Natural Gas Trade and Power Sector Demand report of the year, the reports will resume on January 8, 2019. For the week ending December 13, 2018, We are anticipating a -135 bcf draw for Thursday’s natural gas storage report as indicated by our pipeline scrapes. E: -37; MW: -46; MTN : -8; PAC : -12; SC: -32. There are currently 3 analysts reporting on Bloomberg with an average of -140 bcf. For the next four weeks (incl. this .....