Thursday, December 31, 2015

EIA: Gas in Storage -58 Bcf to 3.756 Tcf

The EIA reported this morning that working gas in storage was down 58 Bcf to 3.756 Tcf.  The weekly withdrawal was double last year's (-29 Bcf), but 39% lower than the five year average (-95 Bcf).  The current storage level is now 16.5% above last year (3.224 Tcf, a difference of 532 Bcf) and 13.5% larger than the five year average (3.308 Tcf, a difference of 448 Bcf).


It's Been a Gas...

As of the end of this year, I'm going to suspend active publication of haynesvilleplay.com.  Over the next few weeks (months?), I'll bring all of the stray completions, permits and rig counts current to 12/31/15 but will stop updating these on a regular basis.  The site will remain up and my email (haynesvilleplay <at> gmail <dot> com) will be active if anyone wants to check in.  I'm not going anywhere - I just won't be as visible.

It's not for a lack of interest but rather a lack of time that I have to move on. Other projects have overtaken my attention, as I'm sure regular readers have noticed.  Over the past seven and a half years, I've thoroughly enjoyed writing about the Haynesville Shale.  I've learned a lot and have met some interesting people (at least virtually).  I probably will post occasionally - I'm going to stay abreast of the market - but I just won't be publishing with any regularity and I'll leave stats maintenance to others.

A happy and prosperous new year to all and may things turn around for natural gas in the coming year(s).

Monday, December 28, 2015

EIA: Gas in Storage -32 Bcf to 3.814

Another warm week, another crappy storage report.  The EIA announced last week that working gas in storage was down only 32 Bcf to 3.814 Tcf.  The angle of the red line foreshadows a bad year coming (unless the Polar Vortex drops in for a visit)...


The weekly withdrawal was 38% below last year (-52 Bcf) and 74% lower than the five year average (-121 Bcf).  The current storage level is now 17.2% below last year (3.253 Tcf, a difference of 561 Bcf) and 12.1% below the five year average (3.403 Tcf, a difference of 411 Bcf).

Wednesday, December 23, 2015

U.S. Rig Count: -9 to 700

This week's Baker Hughes U.S. rig count was down nine to 700.  Oil rigs were down three to 538 and gas rigs were down six to 162.  Since I neglected to post last week, I'll let you know that over the past two weeks, oil rigs were up 14 while gas rigs were down a whopping 23.  By type, horizontal rigs were down five last week to 554 (unchanged over two weeks), vertical rigs were down one to 86 (down five over two weeks) and directional rigs were down three to 60 (down four over two weeks).


Friday, December 18, 2015

Last Week's U.S. Rig Count: -28 to 709

Since this week's U.S. rig count comes out in a few hours, I figured I'd finally get last week's up.  The BHI U.S. rig count was down 28 to 709.  Oil rigs were down 21 to 524 and gas rigs were down seven to 185.  By type, horizontal rigs were down 15 to 554, vertical rigs were down 13 to 91 and directional rigs were unchanged at 64.  I'll post the chart this afternoon with a new batch of rig count numbers.

Thursday, December 17, 2015

Jack Frost, Where Did You Go? EIA: Storage -34 Bcf to 3.846

EIA reported that working gas in storage was down only 34 Bcf last week to 3.846 Tcf.  The light withdrawal is not a great surprise to weather watchers.  The upcoming green Christmas week should continue to put pressure on gas prices for weeks (months? years?) to come.  The withdrawal last week was 44% lower than last year (-61 Bcf) and 72% below the five year average (-120 Bcf).  The current storage level is now 16.4% higher than last year (3.305 Tcf, a difference of 541 Bcf) and 9.1% above the five year average (3.524 Tcf, a difference of 322 Bcf).


Thursday, December 10, 2015

EIA: Gas in Storage -76 Bcf to 3.88 Tcf

The EIA reported this morning that working gas in storage was down 76 Bcf to 3.88 Tcf.  The weekly withdrawal was 62% greater than last year (-47 Bcf) and 17% higher than the five year average (-65 Bcf).  The current storage level is now 15.3% higher than last year (3.366 Tcf, a difference of 514 Bcf) and 6.5% above the five year average (3.644 Tcf, a difference of 236 Bcf).


Friday, December 4, 2015

U.S. Rig Count: -7 to 737

The Baker Hughes U.S. rig count was down seven this week to 737.  Oil rigs were down 10 to 545 and gas rigs were up three to 192.  By type, horizontal rigs were unchanged at 569, vertical rigs were down five to 104 and directional rigs were down two to 64.  Among gas rigs, horizontal rigs were up three to 143, while directional and vertical rigs were unchanged at 26 and 23, respectively.

Thursday, December 3, 2015

EIA: Gas in Storage -53 Bcf to 3.956 Tcf

Finally!  The EIA announced this morning that working gas in storage was down 53 Bcf to 3.956 Tcf.  The first withdrawal of the season was 26% greater than last year (-42 Bcf) and 10% larger than the five year average (-48 Bcf).  The current storage level is now 15.9% above last year (3.413 Tcf, a difference of 543 Bcf) and 6.7% higher than the five year average (3.709 Tcf, a difference of 247 Bcf).


Now that the storage injection season is over, it's time to reflect on the big picture.  Storage reached a record 4.009 Tcf, by far the highest level in history.  Getting down to 1.5 Tcf at the end of the injection season is likely impossible without a new ice age commencing in the next two weeks.  Unfortunately, 2.0 Tcf - which entails a 2.0 Tcf withdrawal - seems like a stretch too, especially with a warm winter predicted.