Gas prices have remained over $3/MMBtu for all of December. (Source: Shutterstock)
U.S. natural gas storage levels fell by 190 Bcf during the week ending Dec. 6, one of the biggest withdrawals in more than 10 years.
According to the U.S. Energy Information Administration’s storage report, natural gas levels fell from approximately 3.94 Tcf to 3.75 Tcf from Nov. 29 to Dec. 6.
The last time a comparably large withdrawal happened in early December was 2010, when levels fell by 164 Bcf, according to East Daley Analytics.
The large withdrawal reflected cooler-than-average temperatures for the beginning of December.
The Henry Hub Natural Gas front-month futures price reacted positively to the news, gaining $0.08 to close the day at $3.46/MMBtu. Gas prices have remained over $3/MMBtu for all of December.
Recommended Reading
Minerals M&A to Heat Up in ‘25 with $4B Diamondback Sale–KeyBanc
2025-01-13 - KeyBanc analysts expect an “imminent” Diamondback Energy dropdown to Viper Energy and at least a couple of $500 million deals by public mineral and royalty companies in 2025, with Sitio Royalties a likely acquirer.
Constellation Bets Big on NatGas in $16.4B Deal for Calpine
2025-01-10 - Constellation Energy will acquire Calpine Corp. in a $26.6 billion deal, including debt, that will give the pure-play nuclear company the largest natural gas power generation fleet.
LS Power Completes Acquisition of Algonquin Power’s Renewables Unit
2025-01-09 - With the transaction’s closure on Jan. 8, LS Power formed Clearlight Energy to manage the acquired renewable energy assets.
Florida Fuel Distributors Palmdale, Combs Oil Merge
2025-01-08 - Palmdale Oil’s acquisition of Combs Oil Co. combines two Florida-based fuels and refined products distributors.
Constellation Energy Nearing $30B Deal for Calpine, Sources Say
2025-01-08 - Constellation Energy is nearing a roughly $30 billion deal to acquire power producer Calpine that could be announced as early as Jan. 13, sources familiar with the matter said.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.