Zeta has once again resulted in GoM production dropping. The BSEE reported 1.5 Bcf/d of production shut-in as of yesterday afternoon. Today’s pipeline nomination data shows a slight higher level of shut-ins from the Gulf region.
Hurricane conditions are expected this afternoon with heavy rains through Thursday at the storm moves up through the Central Appalachian region. Luckily this storm will make landfall a bit more east of where Laura and Delta did.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 85.3 Bcf/d this morning. Today’s estimated production is -0.04 Bcf/d to yesterday, and -3.16 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 83.3 Bcf today, -4.79 Bcf/d to yesterday, and +3.59 Bcf/d to the 7D average. US power burns are expected to be 30.34 Bcf today, and US ResComm usage is expected to be 23.1 Bcf.
Net LNG deliveries are expected to be 9.2 Bcf today.
Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 4.6 Bcf today.
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ION-Energy-Daily-Report-Oct-28-2020.pdf