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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: quehubo who wrote (66043)	6/16/2006 1:18:18 AM
From: GaAs52	Read Replies (1) of 206270

The ng injection numbers deserves a closer look. Last week East injected 55 bcf whereas the Producing region injected only 9. Generally East/Producing injection ratio is around 2.5 and Producing should have injected >20 bcf. Historically East injects up to 2,000 bcf and Producing injects up to 1000 bcf. Currently, East has 1,268 bcf in storage and Producing has 795 bcf. This means, on historical storage levels, East is 63 % full whereas Producing is 80 % full. No wonder there are several alerts in the producing region about high storage levels and interruption to injections. The current injection levels are artificially lowered by much higher than usual storage levels so early in the season. The limited pipeline capacity may be playing a role here as well. Watch out NA ng player's Q2 numbers. Somewhere someone must be selling ng at much lower rates than Nymex or choking the production as there is nowhere for ng to go. Certainly, this time is different and exceptionally high storage levels is likely distorting the injection numbers. Once East gets close to full, then the bottom will fall off.

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