From: research
Sent: Thursday, May 21, 2020 7:09:11 AM (UTC-06:00) Central Time (US & Canada)
To: research
Subject: Daily Market Report – May 21, 2020
For today’s EIA storage report for week ending May 15th, we are projecting a +79 Bcf injection. Total consumption for the week was 5.4 Bcf/d higher than the previous week with cooler weather primarily raising ResComm demand in the Northeast and Midwest. The Bloomberg Survey has rose significantly since yesterday morning. It is currently at 87 Bcf (vs. 81 Bcf yesterday AM).
Today’s modelled production from BNEF is 82.7 Bcf/d. We dove further into the recent change, to see which regions are the largest contributor to drop. Between April 15th and May 19th, the modelled production change is -7.8 Bcf/d. 50% of the drop in natgas production comes from three plays alone – Miss-Lime (Midcon), App basin (marcellus-utica), and West Texas (Permian).
Today’s Fundamentals:
Daily US natural gas production is estimated to be 82.7 Bcf/d this morning. Today’s estimated production is 0.43 Bcf/d higher than yesterday, and -1.24 lower than the 7D average.
Natural gas consumption is modelled to be 63.2 Bcf today, -1.97 Bcf lower than yesterday and +0.33 Bcf higher than the 7D average. US power burns are expected to be 25.7 Bcf today, and US ResComm usage is expected to be 11.5 Bcf.
Net LNG deliveries are expected to be 5.8 Bcf/d today.
Mexican exports are 5.6 Bcf/d. Net Canadian imports dropped to 4.2 Bcf/d.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-May-21-2020.pdf