look at this site: (recommended by someone in an earlier post and is useful if you can track it everyday) http://www.powermarketers.com/icex-gas.htm the price of the El Paso - San Juan Basin gas has risen from around $2.50 to upper $3s and today is at $4.05.
(at $2.50 seemed to be a huge discount to other areas - anyone know why, besides quality of gas, that this area would seem to be lower priced than other areas?
Plus NYMX futures are hovering around the $4 mark going in to Spring '04.
Hello germipeck another source of info is enerfax.com As to prices, I can't see why everyone is so excited about these prices. We are now returning to what is historically about right for the price of NG at this time of year. WE are just coming off a real glut of NG and have a storage level that is a record all time high. There is now way to maintain these price levels unless the winter is a lot harsher than anyone is now predicting. If we end up the heating season next spring with 1tcuft or more left, the price will again fall to the $2.50 level. San Juan gas is noted for the abundance of coal seam gas which has lower btu content than other gas. Spot price's in no way reflect what is being charged to contract customers. I am still neutral on NG. Unless the economy picks up and more industrial use is made of all the gas that is building up, we will continue in a short term glut. JMHO
Price of NG and colder weather coming. I used to own WTU but dropped out a year or so ago, and have not followed it much. What will be the effect of Williams selling their interests? Also do you have any reccomendation on WTU? Thanks in advance.