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Encana Corporation Message Board

  • margin321 margin321 Nov 2, 2006 4:22 PM Flag

    Earliest weekly withdrawal since 1994

    <For the week, the implied net withdrawal of 9 Bcf contrasts with the 5-year average of injection 30 Bcf and last year?s injection of 36 Bcf. This is the earliest weekly withdrawal approaching the heating season since 1994 when the weekly data series began. The only other instance of a withdrawal in October was reported for the week ending October 31, 1997. Unusually colder-than-normal temperatures that prevailed during the report week in large sections of the country likely contributed to the withdrawal from working gas stocks as the unseasonably cool temperatures would have increased heating demand for natural gas. During the report week, heating degree-days in the Lower 48 States exceeded normal levels by about 31 percent.>

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    • Thanks for the info. The storage is less than 9% over the last five year average. Doesn't sound very bad. The press loves the headline of record storage levels. The Farmers Almanac, which my father-in-law swears by, says we are going to have a very cold winter- they have been right 80% of the time. It's not Goldman Sachs but they're probably more accurate. If we don't get a cold winter, watch out below.

 
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