U.S. natural gas inventories end withdrawal season at lowest level since spring 2014

[thackney]

U.S. natural gas inventories end withdrawal season at lowest level since spring 2014
https://www.eia.gov/todayinenergy/detail.php?id=39152
APRIL 19, 2019



Working natural gas in storage in the Lower 48 states at the end of March totaled 1,137 billion cubic feet (Bcf) according to EIA’s Weekly Natural Gas Storage Report. As of March 31, the usual end of the natural gas withdrawal season, working natural gas inventories were 30% lower than the previous five-year average for that time of year. This end-of-season level was the lowest since 2014, when working natural gas inventories at the end of March 2014 totaled 837 Bcf.

Working natural gas inventories entered the winter heating season in November 2018 at 3,198 Bcf—the lowest level for that time of year in more than a decade—and declined during the winter at a rate consistent with historical trends.

In November 2018, relatively cold weather resulted in 206 Bcf of natural gas withdrawals, almost twice as much as a typical November. However, the pace of withdrawals slowed during December, with a monthly total of 320 Bcf compared with the five-year average of 523 Bcf. Net withdrawals in the remaining months of the 2018–2019 withdrawal season were within 20% of their typical values.



EIA’s Natural Gas Storage Dashboard provides visualizations of natural gas storage levels across the Lower 48 states as well as other factors that affect the amount of natural gas withdrawn from or injected into storage.

[thackney]

Weekly Natural Gas Storage Report
http://ir.eia.gov/ngs/ngs.html

[IsailedawayfromFR]

Reminds me of seeing this, setting production records while witnessing low gas prices.

U.S. Sets World Record Natural Gas Production as Prices Plunge

U.S. natural gas production set an all-time world record last week despite prices hitting a new annual low and down 85 percent over the last 14 years.

After dominating world natural gas production for 50 years, American production peaked in 1972 at about 21.7 trillion cubic feet. As annual production slumped to about 18 trillion cubic feet for the next 33 years, prices rose from about $.59 per thousand cubic feet (tcf) to a record high of $18.95 per thousand cubic feet in September 2005.

But thanks to 80-year old George Mitchell, who pioneered modern hydraulic fracking techniques in the suburbs of Fort Worth in the late 1990s, U.S. natural gas production hit 100 million cubic feet per day last week, or an annual rate of 3.7 trillion cubic feet. Through the magic of capitalism, prices plunged by $.18 over the next four days to $2.56 per tcf on April 19.

https://www.americanthinker.com/blog/2019/04/us_sets_world_record_natural_gas_production_as_prices_plunge.html#ixzz5lpAL7JBg]https://www.americanthinker.com/blog/2019/04/us_sets_world_record_natural_gas_production_as_prices_plunge.html#ixzz5lpAL7JBg