GREY:CNKEF - Post by User
Post by
Miner1967on Aug 11, 2017 11:02am
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Post# 26570919
2017 "Bad" Nat Gas? The Reality Check for bears
2017 "Bad" Nat Gas? The Reality Check for bearsFirst, let's see the official data for Chinook's prices
.
Sales Prices | | | | June 2017 | | | | June 2016 | | | | | | | | | |
| Average natural gas liquids price ($/boe) | | $ | 44.48 | | | $ | 25.78 | | | $ | | | | $ | | |
| Average natural gas price ($/mcf) | | $ | 2.77 | | | $ | 1.35 | | | $ | |
Second, the current overall data
EIA report:
| Released On 8/10/2017 10:30:00 AM For wk8/4, 2017 | | | Prior | Actual | | Weekly Change | 20 bcf | 28 bcf | | |
| Highlights
Natural gas in storage rose 28 billion cubic feet in the August 4 week to 3,038 bcf. The nineteenth consecutive weekly build since the traditional end of the heating season was smaller than the 29 bcf injected in the same week a year ago, and below the 54 bcf average weekly build in the last 5 years. The weekly build was also below analysts' expectations of a 37 bcf increase, and put natural gas stocks 8.3 percent below the level last year. |
These are the DATA folks. This is a good year for NG and it will be better. And as I see, the 99,9% here stays with the FACTS, this is why the sellers are only a couple of guys with a few backs worth shares.