L48 Production look to be back to normal levels. Today’s estimates show production resuming in the Gulf and Midcon and taking overall levels to 90.3 Bcf/d. We are now just slightly behind in the Northeast, but we expect some of that to recover and cooler temps pass over.
LNG has also resumed. All plants but Freeport are back to their normal operating levels. Freeport does look like it is ramping up.
Finally, here is a good view from Maxar on the weather we’ve had this winter so far. As seen, we trended below normal most of the winter except for last week’s cold blast.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 90.3 Bcf/d this morning. Today’s estimated production is +1.82 Bcf/d to yesterday, and +11.46 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 87.2 Bcf today, -0.32 Bcf/d to yesterday, and -18.08 Bcf/d to the 7D average. US power burns are expected to be 24.94 Bcf today, and US ResComm usage is expected to be 31.7 Bcf.
Net LNG deliveries are expected to be 10.4 Bcf today.
Mexican exports are expected to be 6 Bcf today, and net Canadian imports are expected to be 5.1 Bcf today.
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ION-Energy-Daily-Report-Feb-24-2021.pdf