WGES Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 8, Issue 46
We know how to deliver energy.
November 13, 2009 Energy Update
In this Issue
Editors Note
Week in review for period of November 6, 2009 to November 12, 2009.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, November 12, 2009
NYMEX 12-Mo. Avg. Price Per Therm at the Well-Head
PJM Electricity
PJM 12-Month Average Peak Power Price
Weather
Local Cooling Degree Days*
e- Poll
Do you like the new Energy Update format ?
Yes
No
Not sure yet
 
For more information, contact your WGES Account Manager or wges_lgc@wges.com.
CleanSteps(SM) Windpower
Editors Note
Week in review for period of November 6, 2009 to November 12, 2009.

Energy prices fell for the third straight week. For this report period, the 12 month average price for natural gas at the well-head fell 5.8%. The average 12 month price for electricity on the PJM fell 4%. Crude oil prices fell $3/barrel closing at $76/barrel. For now, the principles of supply and demand are actually running the show. The lack of cold weather and the slow economic recovery have created a low demand for natural gas, crude oil and electricity. As a result of the low demand for energy, supplies are high. For example, for this report period, crude oil stocks rose by 1.8 million barrels which was higher than expected. Natural gas inventories are at record high levels. But do not be lulled to sleep. Some weather forecasters are predicting a colder than normal winter for the eastern half of the Unites States. Plus the big drop in the rig count may impact supplies. One year ago we had 1,552 active rigs. Now we have 734 active rigs.

Return to Top
Natural Gas
EIA Gas Storage Update

 

 Current Week

Last Week 

Net Change

 Last Year 

 5 Year

 

 Stocks (Bcf)

Stocks (Bcf)

 (Bcf)

Stocks (Bcf)

 Average (Bcf)

 Total Lower 48

3,813

3,788

25

3,463

3,404

Storage Update:  Inventories reached another record high of 3,788 bcf. The injection season ended Nov. 1, 2009. The previous record was 3,565 bcf set in October 2007.   Working gas in storage for the week ending 11/6/09 was 3,813 bcf following last week's modest injection of 25 bcf. The inventories are 10.1% above last years's levels. We are 12.0% above the 5 year average.

Return to Top
Baker Hughes Rotary Rig Count

Drilling Rig Update:  Active rig count released by Baker and Hughes for week ending November 6, 2009 was 734 rigs. That is an increase of 6 rigs. The rig count is still 805 lower than the count reported this same week last year.  We are now 43% below the 5-year avg. rig count of 1,288.

Return to Top
NYMEX Natural Gas Monthly Settlements
(Price per therm at the well-head)

Dec-08

$0.6888

Apr-09 

$0.3631

Aug-09 

$0.3379

Jan-08

$0.6136

May-09 

$0.3321 

Sept-09 

$0.2843

Feb-09 

$0.4476

Jun-09  

$0.3538

Oct-09 

$0.3730

Mar-09 

$0.4056

July-09 

$0.3939

Nov-09 

$0.4289

Return to Top
NYMEX Values: Thursday, November 12, 2009
(Price per therm at the well-head)

Dec-09

$0.4370

May-10

$0.4946

Oct -10

$0.5439

Jan-09

$0.4761

Jun-10

$0.5044

Nov-10

$0.5857

Feb-09

$0.4841

July-10

$0.5154

12-month

$0.5059

Mar-10

$0.4870

Aug-10

$0.5239

12/09-3/10

$0.47105

Apr-10

$0.4887

Sept-10

$0.5304

Crude oil

$76/bl.

Return to Top
NYMEX 12-Mo. Avg. Price Per Therm at the Well-Head
(excludes Interstate Transportation)

Return to Top
PJM Electricity
PJM 12-Month Average Peak Power Price
On-Peak 1 Year Forward Price

Return to Top
Weather
Local Cooling Degree Days*

 

Local Cooling Degree Days* 

 

May-09

Jun-09

Jul-09

Aug-09

Sep-09

Oct-09

 Actual

93

272

   378  

467

172

    14      

 Normal

107

304

  456

407

200

28

 Departure from Normal

15.1%

11.8%

20.1%

12.8%

16.3%

50.0%

Cooler

Cooler

Cooler

Warmer

 Cooler

Cooler

 

* Cooling degree days are calculated by comparing the day’s average temperature to a 65 degree baseline.  If the average temperature is below 65, there are no cooling degree days that day.  If the average temperature is greater than 65 degrees, then subtract 65 from the average temperature to find the number of cooling degree days

Return to Top
Washington Gas Energy Services strives to provide concise and accurate information from dependable sources for information contained in this report. Nevertheless, Washington Gas Energy Services does not warrant the authenticity of such information. This report is not intended to serve as a trading tool for customers or for potential customers. If you would like to like to receive this information via email, please send your request to wges_lgc@wges.com.

To ensure delivery of the ENERGY UPDATE, please add wges_lgc@wges.com to your email address book or Safe Sender List.
If you are still having problems receiving our communications, see our white-listing page for more details.