Gulf of Mexico operators returning to work after Hurricane Delta. BSEE estimates in yesterday’s report that about 69.4% of the current oil production and 47.1% of the natural gas production in the Gulf have been shut-in. This equates to 1.28 mmbbl/d of oil and 1.276 Bcf/d of natural gas shut-in. The peak natural gas shut-in was 1.69 Bcf/d on Saturday. The pipeline nomination data shows a general increase to production out of the Gulf to confirm production returning.
On the LNG front, today’s total feedgas deliveries totalled 7.5 Bcf/d. Cove Point has returned to normal operational levels, while Cameron and Sabine are still slowly resuming operations.
Today’s Fundamental’s
Daily US natural gas production is estimated to be 85.2 Bcf/d this morning. Today’s estimated production is -0.31 Bcf/d to yesterday, and -0.02 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 71.7 Bcf today, +0.89 Bcf/d to yesterday, and +3.52 Bcf/d to the 7D average. US power burns are expected to be 31.94 Bcf today, and US ResComm usage is expected to be 12 Bcf.
Net LNG deliveries are expected to be 7.5 Bcf today.
Mexican exports are expected to be 6.4 Bcf today, and net Canadian imports are expected to be 4.1 Bcf today.
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ION-Energy-Daily-Report-Oct-13-2020.pdf