EIA Downgrades Expectations for Natural Gas Production

From Seeking Alpha:
  • The EIA has revised its estimate for first quarter natural gas production down by a whopping 2 Bcf/d from 74 Bcf/d to 72 Bcf/d.
  • The EIA has revised first quarter natural gas consumption up by .7 Bcf/d from 96.3 Bcf/d to 97 Bcf/d.
  • The massive revision to production and consumption leads one to question if the EIA storage model is correct and will it be revised to show less natural gas in storage?
After the bell closed on Friday the EIA released its monthly natural gas report. The report delivered stunning news that the EIA has revised down its first quarter estimate for dry natural gas production and revised up its estimate for natural gas consumption. Just three weeks ago the EIA released its monthly Short Term Energy Outlook.
Read more by clicking here.

Connect with us on Facebook and Twitter!

Popular posts from this blog

Pennsylvania Operator To Acquire Three Natural Gas Producers

Do You Know The History of Fracking?

The Second Largest Oil and Gas Merger - Cabot and Cimarex