RE:NG prices have come downPMT is coming down with it.
I've reduced my PMT holdings at $0.75 to $0.80, now I am going to replenish my holding in the $0.60s and lower, actually I am looking forward to see PMT retest its low before Nov. .
The weather and rig counts are not affecting the storage levels like it once was. short term, the tied-ins from the shut-ins are affecting the storage levels, remember the injection of 32 bcf for the week ending July 31/15, the States were not much hotter than last week, as a matter of fact, New England was'nt hot at all, that week's low injection was a coincidence of maximum decline of few old wells, and a pause of tied-ins, since nobody knows how much O/G is still shut -in, the arguements about injection and storage is no more than a barking contest.
The glut is still here, in the next six months, a very cold week, rig counts at the lowest point, production and shut-ins start to decline, if all these events happen at the same time by coincidence, that's the day the glut is over, before that day, the end of the glut is a guessing game (barking game for the s--k puppy)
After the winter, the last men still standing in the O/G patch are the big winners, PMT won't be one of them, instead you might find a lady sitting on the O/G field. LOL CHEERS GLTA.