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Gold/Mining/Energy : Swift Energy (SFY)

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To: Mark who wrote (660)2/18/1999 9:28:00 PM
From: PuddleGlum  Read Replies (1) of 1602
 
Mark-
The most recent AGA figures showed a draw of 59 BCF, or 1.8%, for last week. That means storage can hold over 32,000BCF. The 58% full figure seems uncomfortably high to me, too. What I don't know is how much gas is consumed on a typical day, or as you asked, what percentage of consumption is represented by a draw of 59BCF.

We have Canadian pipelines already providing some gas, and more pipelines scheduled to be finished soon.

Gas is stored primarily underground in old gas fields, some of which are in the upper Midwest, which is where it is usually needed, and some of which is stored elsewhere around the country. Problems (for consumers) arise when pipeline capacity is insufficient to meet demand in a region of the country. Then they start drawing on storage, if it is local, or paying more or freezing if they don't have local storage.

Hope this helps. Sure wish I knew more.

pg
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