Natural Gas Storage Report: Injection Season Through Week 3 (Week Ending April 17, 2015)

Phillip T. Golden
Director of Product and Risk Management

The third week of the injection season saw a significant injection into storage, with the injection coming in at 90 BCF, slightly above market expectations of a 87 BCF addition. The market was down in expectation of the largest injection for the third week of the storage season, but appears not to be reacting to the bearish number beyond pre-storage report release falls. Currently, we would need to average 77 BCF/week in injections to get to the EIA’s projected storage number, which is above historical norms but below last year’s fill rate of 90 BCF/week. While this report is bearish, there does seem to be market sentiment to stay above the $2.50 mark. However, as seen in the charts below, strip prices are the lowest they have been in the past 3 years. 

April Week3 4

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EMEX finds creative solution to NJ Town’s Solar Dilemma

Phillip T. Golden
Director of Product and Risk Management

EMEX, LLC is pleased to announce that it played an integral role in helping Brick Township structure a first of its kind deal to capture the benefits of a solar redevelopment project on top of a former Superfund Clean-up site. The deal will provide power to the Township and insure that it reaps the rewards of years of hard work to transform French’s Landfill into a positive environmental attribute.

New Jersey Municipalities Magazine 1

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Natural Gas Storage Report: Injection Season Through Week 2 (Week Ending April 10, 2015)

Phillip T. Golden
Director of Product and Risk Management

The second week of the injection season saw another bearish number, with the injection coming in at 63 BCF, slightly above market expectations of a 55 BCF addition. The market has come off some, but the lingering cold seems to be holding the market up, as gas initially fell $0.06 in the prompt but has since regained a little bit of the loss, down only $0.048 as of 9:35 a.m. CST . Currently, we would need to average 75 BCF/week in injections to get to this number, which is above historical norms but below last year’s fill rate of 90 BCF/week. While this report is bearish, there does seem to be market sentiment to stay above the $2.50 mark. However, as seen in the charts below, strip prices are the lowest they have been in the past 3 years.

Nat Gas Report April 2015 Week2 3

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Natural Gas Storage Report: Injection Season Through Week 1 (Week Ending April 3, 2015)

Phillip T. Golden
Director of Product and Risk Management

The first week of the injection season (which runs April-October) saw a slightly bearish number, with the injection coming in at 15 BCF, slightly above market expectations of only a 11 BCF addition. This initially caused the market to tumble, moving down almost $0.08/MMBtu, but the market has recovered slightly and mid-morning trading is showing only a $0.06/BCF drop. The EIA expects that storage will reach 3,781 BCf by the end of October, which equates to an average injection of 75 BCF/week, which would be less than what we saw in the 2014 injection season. The market has been searching for a direction lately, with trading being very choppy (up one day, then down the next) and today’s storage report is unlikely to provide that.

Nat Gas Report April 2015 3

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