| Natural Gas Inventory: Biggest Gain for the Decade? | |
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Natural Gas Prices Are Almost Flat after Hitting 5-Month Lows (Continued from Prior Part) Natural gas inventory
The EIA (U.S. Energy Information Administration) is scheduled to release the weekly natural gas in storage report for the week ending September 18, 2015, on September 24, 2015. Last week, the gas stockpile rose by 73 Bcf (billion cubic feet) to 3,334 Bcf for the week ending September 11, 2015. Likewise, natural gas stocks rose by 68 Bcf to 3,261 Bcf for the week ending September 4, 2015.
Natural gas inventory estimates and impact
Bloomberg and Wall Street Journal surveys project that the natural gas inventory could rise by 99 Bcf and 97 Bcf, respectively, for the week ending September 18, 2015. It’s the highest weekly inventory gain since 2003. The natural gas stockpile rose for the 24th straight week for the week ending September 11, 2015. Mild weather and a possible drop in consumption might have led to the mammoth rise in the natural gas inventory.
The five-year seasonal rise is at 83 Bcf. The natural gas stockpile rose by 90 Bcf during the same period last year. Currently, the natural gas stockpile is 15.80% more than the level of 2,878 Bcf in 2014. It’s also 125 Bcf more than the five-year average of 3,209 Bcf. The consensus of the rising stockpile and mild weather will continue to put pressure on natural gas prices.
Falling natural gas prices affect upstream players like Southwestern Energy (SWN), EQT (EQT), and Cimarex Energy (XEC). Combined, they account for 3.55% of the SPDR Oil and Gas ETF (XOP). These companies’ natural gas production mix is greater than 43% of their production portfolio. Falling natural gas prices could impact oil and gas ETFs like the Energy Select Sector SPDR ETF (XLE) and XOP.
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Cimarex Energy Co.
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CODE : XEC |
ISIN : US1717981013 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cimarex Energy is a producing company based in United states of america. Cimarex Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 8.3 billions as of today (€ 7.2 billions). Its stock quote reached its highest recent level on May 23, 2018 at US$ 99.89, and its lowest recent point on September 30, 2021 at US$ 87.20. Cimarex Energy has 95 438 121 shares outstanding. |