US dry production was almost back to normal levels this weekend with both the GoM and Northeast production return. GoM production looks like its almost back to normal with Entergy resuming power to most of Southern LA, and the Northeast had production back to normal levels with MarkWest resuming normal operations.
Today’s Fundamentals
Daily US natural gas production is estimated to be 91.1 Bcf/d this morning. Today’s estimated production is -1.6 Bcf/d to yesterday, and -1.05 Bcf/d to the 7D average. Late day nomination cycles should take production back to 92.5 Bcf/d.
Natural gas consumption is modelled to be 66.9 Bcf today, -2.19 Bcf/d to yesterday, and -4.19 Bcf/d to the 7D average. US power burns are expected to be 33 Bcf today, and US ResComm usage is expected to be 7.4 Bcf.
Net LNG deliveries are expected to be 10.1 Bcf today. Cove Point looks to have started maintenance today with feedgas levels dropping to 0. This maintenance typically lasts 26 days each years.
Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 4.6 Bcf today.
The storage outlook for the upcoming report is +75 Bcf today.
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ION-Energy-Daily-Report-Sep-20-2021.pdf