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Natural Gas Prices Entered Bull Market in 7 Days (Continued from Prior Part) US natural gas stockpile
On December 31, 2015, the EIA (U.S. Energy Information Administration) is scheduled to release its natural gas stockpile report. The government agency reported that the US commercial weekly natural gas stockpile has fallen by 32 Bcf (billion cubic feet) to 3,814 Bcf for the week ended December 11, 2015. The natural gas stockpile fell due to cold weather and a marginal fall of US weekly natural gas production.
Impact
The current bullish momentum of prices and cold weather suggests that the US natural gas inventory could have fallen for the week ended December 25, 2015. US natural gas inventory fell for the fourth consecutive week for the week ended December 18, 2015. During the same period in 2014, US natural gas inventory fell by 26 Bcf. The consensus of falling inventory could benefit natural gas prices. Higher natural gas prices benefit Exco Resources (XCO), Anadarko Petroleum (APC), Rice Energy (RICE), Devon Energy (DVN), and Chesapeake Energy (CHK).
US natural gas in storage peaked at 4,009 Bcf for the week ended November 20, 2015. The current natural gas inventory is 12.1% more than the five-year average of 3,403 Bcf. It’s also 17.2% more than the 3,253 Bcf recorded in 2014. If natural gas production increased during the week ended December 25, 2015, it could have a negative effect on natural gas prices. We’ll see how production affects the natural gas market in the next part of the series.
The roller coaster ride in natural gas prices affects ETFs such as the Guggenheim S&P 500 Equal Weight Energy ETF (RYE), the PowerShares DB Energy ETF (DBE), the Fidelity MSCI Energy ETF (FENY), and the PowerShares DWA Energy Momentum ETF (PXI).
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Devon Energy Corporation
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CODE : DVN |
ISIN : US25179M1036 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Devon Energy est une société de production minière et de pétrole basée aux Etats-Unis D'Amerique. Devon Energy détient divers projets d'exploration au Canada. Son principal projet en exploration est JACKFISH OIL SANDS PROJECT au Canada. Devon Energy est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 27,2 milliards US$ (25,6 milliards €). La valeur de son action a atteint son plus bas niveau récent le 18 août 1995 à 10,00 US$, et son plus haut niveau récent le 22 février 2008 à 99,19 US$. Devon Energy possède 525 000 000 actions en circulation. |