EIA Natural Gas storage report just out(7:30am PST every Thursday). Increased 18 vs 49 a year ago. Bullish.
Celsius underestimated the increase last week and overestimated this week. Timing issue?
November HH now $3.12 (hit a low of $2.98 before the report came out).
Key date for me is the 11/16 eff (reported 11/22) which is when 2022 and 5 year average intersect @3644 B's of storage. Requires 2022 increase to average a little under 7 B's per day for the next 84 days. On that note, the next 21 days (5 of which have already passed) looks bullish per Celsius.
This is before the impact of any accumulated undrilled/uncompleted wells from reduced (natural gas) rig count on production. Which has been rumored to happen for months now but hasn't at all.
Main problem is the huge increase in Permian associated gas as natural gas cut (%) went up.
This is where Peyto's astute hedging comes in handy for shareholders.
Good luck to all.