Monday, April 30, 2012

"EIA: Lower 48 US February Natural Gas Output -0.6% Vs Revised January Level "

As I said upon the release of the April 19th storage report, this is the production report the cognescenti have been waiting on.
Front-month futures up 7.4 cents (3.39%) at $2.26.
Remembering the knee-jerk upmove after the Chesapeake announcement in February, the higher it goes the better the entry point for shorts.
One of these days we'll give you a weather report for July-September 2012.
From Dow Jones
Natural-gas output in the Lower 48 U.S. states in December eased 0.2%, or 0.14 billion cubic feet per day, to 72.54 billion cubic feet a day, government data released Wednesday show.

The decline is the first since February 2011 and came against record-high output in November. The Energy Information Administration revised up November output to 72.68 bcf/day from the preliminary level of 72.61 bcf/day.

December's decline came primarily from a drop in Wyoming output, which slid 3.4% to its lowest level since September, partly due to a fire at a compressor station, the EIA said...MORE.