| Inventory Estimates Are Up, but Natural Gas Prices Could Go Down | |
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Crude Oil and Natural Gas: Inventory and Prices Could Diverge (Continued from Prior Part) EIA’s report
The EIA (U.S. Energy Information Administration) will release its weekly natural gas stockpile report on Thursday, June 11, 2015. For the week ending May 29, 2015, the weekly natural gas in storage rose by 132 Bcf (billion cubic feet) to 2,233 Bcf. The market consensus suggests that stockpiles could increase more than the normal expectation for the week ending June 5, 2015.
Preliminary industry surveys suggest that the natural gas stockpile could increase by 120 Bcf over the same period. Last year, during the same period, the stockpile rose by 109 Bcf. The five-year average stockpile increase is 89 Bcf. The current stockpile is 50.7% more than last year’s levels of 1,482 Bcf. Likewise, the current inventories are 1% more than five-year average inventory of 2,211 Bcf.
The increasing stockpile could influence natural gas prices in the short term. This implies slowing demand or increasing supplies. As a result, natural gas prices could fall. Energy companies like Range Resources (RRC), Rex Energy (REXX), and Energy XXI (EXXI) are also negatively impacted by declining natural gas prices. Combined, they account for 4.56% of XOP. These stocks have a natural gas production mix that’s greater than 45% of their total production.
They also negatively impact energy ETFs like the Energy Select Sector SPDR ETF (XLE) and the Spider Oil and Gas ETF (XOP). In contrast, these ETFs fell in Monday’s trade against the price direction of natural gas prices. They fell slightly by 0.57% and 0.44%, respectively, in yesterday’s trade. Likewise, the S&P 500 also declined marginally in Monday’s trade.
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Energy XXI
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EXPLORATEUR |
CODE : EXXI |
ISIN : BMG100821401 |
CUSIP : G10009101 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Energy X X I est une société d’exploration minière et de pétrole basée aux Etats-Unis D'Amerique. Son principal projet en exploration est VERDA RAGEN en USA. Energy X X I est cotée au Royaume-Uni et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 370,4 millions US$ (302,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 18 septembre 2009 à 9,63 US$, et son plus bas niveau récent le 15 avril 2016 à 0,12 US$. Energy X X I possède 95 459 002 actions en circulation. |