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Posts Tagged ‘Production’

What’s Happening With Tropical Storm Bonnie

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The depression in the Gulf developed into a tropical storm last night and moved across southern Florida today. The tropical storm, named Bonnie, is fairly weak with sustained winds only around 40 mph. If Tropical Storm Bonnie doesn’t dissipate over the weekend, it is expected to hit land near southeast Louisiana. No major impacts to production are anticipated. Traders appear to agree with this forecast considering that NYMEX Natural Gas prices are off 6 cents today to settle at $4.58 for the week.

No other tropical development is expected in the near term. However, 2010 is likely to have an active hurricane season…
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Gas off 8.5% after EIA Storage and Production reports

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Storage levels of natural gas rose by 83 Bcf, which was above the expectation of 77 Bcf and the 5 year average of 63 Bcf.  The Producing and West regions were the biggest contributors to this high injection, along with lower power generation demand.  Of equal if not greater significance to the market was the release of the monthly EIA-914 report on Thursday, featuring a new survey methodology for estimating gas production.  Supply estimates from 2009 and January 2010 were revised down by approximately 1.3% for the US.  The changes ranged from -.03 to -1.3 Bcf/d and mostly impacted the…
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