Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 27
We Know Energy
July 25, 2014 Energy Update
In this Issue
Editor's Note
Up And Down
Natural Gas Fundamentals
Natural Gas Storage Update: Injection Season Hits Midway Point
Rig Count for Natural Gas
NYMEX Natural Gas Monthly Settlements for the Past 12 Months
NYMEX Values per Month for the Forward 12 Months
NYMEX Graph for Natural Gas - 12 Month Average Price per Therm at the Louisiana Well-Head
PJM Electricity
PJM Graph for Electricity - 12 Month Average Peak Power Price
Weather
Local Cooling Degree Days*
Recent Features
Washington Gas Energy Services Acquires More Than 20,000 Electricity and Natural Gas Customers from Castlebridge Energy Group (November 1, 2013)


 



Washington Gas Energy Services to Offset Carbon Impact of Upcoming RETECH Conference (August 30, 2013)


 


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Natural Gas Fundamentals
Natural Gas Storage Update: Injection Season Hits Midway Point

 

 

Current Week

Last Week 

Net Change 

This Week Last Year 

Prior 5 Year Average 

 

Stocks (Bcf) 

Stocks (Bcf) 

(Bcf) 

Stocks (Bcf) 

Average (Bcf) 

Total Lower 48 

2,219

2,129

90

2,780

2,902

This week's injection was 90 Bcf.  Although 9 of the last 11 injections had been over 100 Bcf, this week's injection of 90 Bcf was still a huge injection for this time of year.  In fact, this week's injection was 95% larger than the five-year average injection of 46 Bcf. 

This was the 14th consecutive injection that registered above the 5 year average. As a result of these unusually large injections, the record storage deficit continued to shrink. On April 3, 2014, after the brutally cold winter, the storage fields were 55% below the five-year average. However, this week the natural gas storage fields were running 23% below the five-year average, 

We are halfway through the injection season and we have cut the storage deficit  in half. The injection season runs April 1- October 31. The analysts appear more optimistic that we can refill the caverns to 3,400 Bcf by November 1st.  We need 15 more consecutive injections above 78 Bcf to hit the target.

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