The natural gas storage report from the EIA for the week ending December 11th indicated that the quantity of natural gas held in underground storage in the US had decreased by 122 billion cubic feet to 3,726 billion cubic feet by the end of the week, which left our gas supplies 284 billion cubic feet, or still 8.3% higher than the 3,442 billion cubic feet that were in storage on December 11th of last year, and 243 billion cubic feet, or 7.0% above the five-year average of 3,483 billion cubic feet of natural gas that have been in storage as of the 11th of December in recent years..the 122 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast from an S&P Global Platts survey of analysts who had expected a 127 billion cubic foot withdrawal, but was higher than the average withdrawal of 105 billion cubic feet of natural gas that have typically been pulled out of natural gas storage during the same week over the past 5 years, and the
U.S. Adds Two Natural Gas Rigs; Oil Drilling Continues Uptrend
The U.S. natural gas rig count rose two units to 81 during the week ended Friday (Dec. 18), while the Permian Basin led in another strong week for the domestic oil patch, according to the latest figures published by oilfield services provider Baker Hughes Co. (BKR).
Alongside the natural gas rigs, the United States added five oil-directed rigs and one miscellaneous unit, lifting the overall U.S. count to 346 for the week, according to the BKR numbers, which are based on data provided in part by Enverus Drillinginfo.
While the recent trend in domestic drilling activity has been decidedly upward, the combined U.S. count as of Friday still lagged its year-ago total of 813 by more than 450 rigs.
the natural gas storage report from the EIA for the week ending December 4th indicated that the quantity of natural gas held in underground storage in the US decreased by 91 billion cubic feet to 3,848 billion cubic feet by the end of the week, which left our gas supplies 309 billion cubic feet, or 8.7% higher than the 3,539 billion cubic feet that were in storage on December 4th of last year, and 260 billion cubic feet, or 7.2% above the five-year average of 3,588 billion cubic feet of natural gas that have been in storage as of the 4th of December in recent years..the 91 billion cubic feet that were drawn out of US natural gas storage this week was higher than the average forecast from an S&P Global Platts survey of analysts who expected a 78 billion cubic foot withdrawal, and was also much higher than the average withdrawal of 61 billion cubic feet of natural gas that are typically pulled out of natural gas storage during the same week over the past 5 years, and the 57 billion cub
The U.S. natural gas rig count climbed four units to 79 for the week ending Friday (Dec. 11), while further gains in the oil patch rounded out a week of