That's in line with the estimates we saw yesterday (Platt's 75-79, Bloomberg 76, Reuters 76) and a bit below year ago injections.
The front futures are down 3.5 cents at $2.702.
From
the EIA:
Released: May 24, 2012 at 10:30 a.m. (eastern time) for the Week Ending May 18, 2012.
Next Release: May 31, 2012
Working Gas in Underground Storage, Lower 48 |
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Region |
Stocks in billion cubic feet (Bcf) |
Historical Comparisons |
05/18/12 |
05/11/12 |
Change |
Year Ago (05/18/11) |
5-Year (2007-2011) Average |
Stocks (Bcf) |
% Change |
Stocks (Bcf) |
% Change |
East |
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West |
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Producing |
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Total |
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Notes and Definitions
Beginning with the
report period for the week ending March 16, 2012, EIA is including salt
dome and nonsalt-dome subtotals for the Producing Region in the Summary
section. The sum of the components may not equal the total for the
Producing Region, because of independent rounding.
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Summary
Working gas in storage was 2,744 Bcf as of Friday, May 18, 2012,
according to EIA estimates. This represents a net increase of 77 Bcf from the previous week.
Stocks were 750 Bcf higher than last year at this time and 753 Bcf above
the 5-year average of 1,991 Bcf. In the East Region, stocks were 381 Bcf above
the 5-year average following net injections of 45 Bcf. Stocks in the Producing Region were 274 Bcf above
the 5-year average of 790 Bcf after
a net injection of 19 Bcf. Stocks in the West Region
were 98 Bcf above the 5-year average after a net addition of 13 Bcf. At 2,744 Bcf,
total working gas is above the 5-year historical range.
Working gas stocks in the Producing Region, for the week ending May
18, 2012, totaled 1,064 Bcf, with 257 Bcf in salt cavern facilities and
807 Bcf in nonsalt cavern facilities. Since May 11, working gas stocks
increased 19 Bcf in the salt cavern facilities and remained at the
previous week's level in the nonsalt cavern facilities. An historical
series of the salt and nonsalt subtotals of the Producing Region is
available for download at: wngsr_producing_region_salt.xls.
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Note: The shaded area indicates the range between the historical minimum and maximum
values for the weekly series from 2007 through 2011.
Source: Form EIA-912, "Weekly Underground Natural Gas Storage Report."
The dashed vertical lines indicate current and year-ago weekly periods.
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