| Natural Gas Inventory Rises for 23 Straight Weeks | |
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Natural Gas Market Is Impacted by Inventory and Rig Count Data (Continued from Prior Part) Natural gas inventory report
The EIA (U.S. Energy Information Administration) released the weekly US commercial natural gas in storage report on September 10, 2015. The government data showed that the natural gas stockpile rose by 68 Bcf (billion cubic feet) to 3,261 Bcf for the week ending September 4, 2015. Likewise, natural gas stocks rose by 94 Bcf to 3,193 Bcf for the week ending August 28, 2015.
Impact
The natural gas stockpile rose for the 23rd straight week for the week ending September 4, 2015. Market surveys estimated that the natural gas inventory could increase by around 76 Bcf for the same period. The less-than-expected inventory increase led to the rise in natural gas prices. The lower-than-estimated inventory rise implies that warm weather led to the drawdown in natural gas supplies.
Currently, natural gas stocks are 17% more than the level of 2,788 Bcf (billion cubic feet) last year. They’re also 4.10% more than the five-year average of 3,134 Bcf. The five-year average rise in inventory is at 63 Bcf. During the same period last year, the natural gas inventory rose by 90 Bcf. The record inventory and speculation of the rising natural gas inventory will continue to put pressure on natural gas prices.
The long-term lower natural gas prices impact natural gas producers’ margins like EQT (EQT), Cabot Oil & Gas (COG), and Cimarex Energy (XEC). They account for 3.55% of the SPDR Oil and Gas ETF (XOP). These companies’ natural gas output mix is more than 43% of their total production. They also impact oil and gas ETFs like the Energy Select Sector SPDR ETF (XLE) and the SPDR Oil and Gas ETF (XOP).
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Cabot Oil & Gas Corporation
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CODE : COG |
ISIN : US1270971039 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cabot Oil & Gas est une société d’exploration minière de pétrole basée aux Etats-Unis D'Amerique. Cabot Oil & Gas est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 10,2 milliards US$ (9,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 26 mars 2004 à 10,00 US$, et son plus haut niveau récent le 14 janvier 2022 à 22,20 US$. Cabot Oil & Gas possède 460 786 236 actions en circulation. |