Bullboard - Stock Discussion Forum Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the... see more

Add To Watchlist

TSX:ATH - Post Discussion

Athabasca Oil Corp > NG trends lower as surplus is recorded today.

View:

Post by smallcaptdr on Aug 04, 2022 12:58pm

NG trends lower as surplus is recorded today.

NG will continue to record surpluses as a record amount of new wells are producing record amounts of NG so a downtrend is expected to continue as cooler weather gives breaks to 100+F across the States. Once Europe has filled all their underground winter storage units which are at 70% filled NG prices will drop dramatically. Plus Germany among other European countries is switching to coal from NG and Germany alone has restarted 10 coal-burning plants with another 12 which were slated to shut down as they switched to cleaner NG will remain running on coal reducing demand from Russia. China has also been exploring Oil and NG and has discovered its first offshore shale Oil and NG reserve which the government will expand on with additional drilling rigs. NG will be at $4 by the start of 2023.

https://oilprice.com/Latest-Energy-News/World-News/China-Claims-First-Offshore-Shale-Oil-And-Gas-Discovery.html

Todays NG Inventory Numbers
United States Natural Gas Stocks Change