Birchcliff Energy Ltd T.BIR

From Bentek-2/26/2014 | 7:23 AM

[fergus2]

Midcon Observer - Great Lakes continues deliveries to Dawn amid low storage inventories

As Dawn storage inventories in southeastern Ontario dip to record lows amid strong local demand, Great Lakes continues to supply the area with ...substantial volumes. Dawn inventories currently sit at 35.6 Bcf, or 0.9 Bcf/d above the previous low set last week. As a result, Great Lakes has flipped from receiving an average of 135 MMcf/d at Dawn for a majority of the winter (Nov. 1 to Feb. 14), to delivering an average of 828 MMcf/d since Feb. 15. Since Great Lakes doesn't receive near what it used to at the Emerson interconnect with TransCanada, a majority of the volumes delivered to Dawn likely stem from withdrawals at the South Chester and Deward storage facilities in Michigan, which have averaged 385 MMcf/d and 559 MMcf/d, respectively, over the past 11 days. The current trend will continue to place upward pressure on MI cash prices, as depleted storage facilities become emptier.less

2/26/2014 | 7:23 AM