U.S. natural gas storage. (Source: Shutterstock)
The U.S. Energy Information Administration (EIA) reported that the nation’s natural gas storage levels for the week ending Dec. 20 fell by 93 Bcf from the week before to a total of approximately 3.53 Tcf in storage.
Stocks of natural gas are currently 166 Bcf above the EIA’s five-year average and 14 Bcf above last year’s total.
Meanwhile, during the last full week of 2024, natural gas front-month futures at the Henry Hub remained at the highest levels in two years. During early trading, the Henry Hub price had fallen $0.04 to $3.68/MMBtu.
Henry Hub prices have been at or above $3.50/MMBtu since mid-December.
The EIA released the data on Dec. 27, a Friday, instead of the usual Thursday because of the Christmas holiday.
Recommended Reading
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
2024-10-10 - Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.
Dividends Declared (Sept. 30 - Oct. 11, 2024)
2024-10-11 - Here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies from Sept. 30 to Oct. 11.
SLB Earnings Rise, But Weakened 4Q and 2025 Ahead Due to Oil Glut
2024-10-22 - SLB, like Liberty Energy, revised guidance lower for the coming months, analysts said, as oilfield service companies grapple with concerns over an oversupplied global oil market.
Exxon, Chevron Beat 3Q Estimates, Output Boosts Results
2024-11-01 - Oil giants Chevron and Exxon Mobil reported mixed results for the third quarter, with both companies surpassing Wall Street expectations despite facing different challenges.
Twenty Years Ago, Range Jumpstarted the Marcellus Boom
2024-11-06 - Range Resources launched the Appalachia shale rush, and rising domestic power and LNG demand can trigger it to boom again.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.