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Natural Gas Settles above $3 per MMBtu: Rig Count Increases Natural gas prices rise again
This series provides an analysis of natural gas prices and fundamentals. For an in-depth look at natural gas and related companies, sectors, and drivers, please refer to our Energy and Power page.
June natural gas futures increased marginally by 0.27% on Friday. Prices surged for the fourth consecutive day—led by the consensus of a marginal decrease in production and warm weather estimates. Natural gas prices settled at $3.01 per MMBtu (British thermal units in millions) on May 15, 2015.
Gas tracking ETFs like the United States Natural Gas Fund LP ETF (UNG) also gained marginally, like natural gas prices, in yesterday’s trade. UNG increased slightly by 0.27% and settled at $14.88 on May 15.
There were estimates of an increase in the demand for natural gas from power plants—this supported natural gas prices last week. The consensus of warmer weather in the eastern parts of the US in the last week of May 2015 supported the gas prices. Sentiments of a marginal slowdown in the natural gas production also fueled natural gas prices’ rally on Friday’s trade.
Last week, the EIA (U.S. Energy Information Administration) reported that the weekly gas in storage rose by 111 Bcf (billion cubic feet) in the week ending May 8—against the market estimates of an increase of 117 Bcf during this period. The lower-than-expected stockpile data also supported the increase in natural gas prices. The gas inventories rose by 76 Bcf in the week ending May 1.
This is the fifth up day in the last ten trading sessions. Gas prices increased by 1.72% more on the up days than on the average down days in the last ten days. Natural gas futures for June delivery had an average performance on yesterday’s trade. Prices gained by 0.87% YTD (year-to-date)—led by improving demand and warmer weather forecasts.
Natural gas price fluctuations impact energy companies like Sandridge Energy (SD), Cimarex Energy (XEC), and Southwestern Energy (SWN). These stocks have a natural gas production mix that accounts for more than 46% of their total production portfolios. These companies account for 3.35% of the SPDR Oil & Gas Exploration & Production ETF (XOP).
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SandRidge Energy
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CODE : SD |
ISIN : US80007P3073 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
SandRidge is a exploration company based in United states of america. SandRidge is listed in United States of America. Its market capitalisation is US$ 519.5 millions as of today (€ 485.3 millions). Its stock quote reached its lowest recent point on January 06, 2016 at US$ 0.15, and its highest recent level on April 26, 2024 at US$ 14.49. SandRidge has 35 850 000 shares outstanding. |