Nat Gas News – April 28, 2017

Nat Gas News – April 28, 2017

In the News

Natural gas operations in Colorado closed after fatal explosion

UPI reports: Anadarko Petroleum Corp. said it shut down operations across northeast Colorado in response to investigations of a fatal explosion near one of its wells. Two people were left dead after the April 17 explosion in Weld County, Colo. Anadarko Petroleum, which controlled the well, said that it operates more than 3,000 wells similar to the one that exploded and was shutting down operations across northeast Colorado in response. The well in connection to the incident, which is situated about 200 feet away from the home tied to the fatalities, was drilled by a previous operator in 1993. Anadarko said late Wednesday the inspection process should take about a month, sidelining a total regional capacity of about 13,000 barrels of oil equivalent per day. For more on this story visit upi.com or click http://bit.ly/2qkwBlS

Natural Gas Price Rises Following Inline Storage Report

Yahoo Finance reports: Natural gas futures for June delivery traded down by about 1.6% in advance of the EIA’s report, at around $3.22 per million BTUs, and traded around $3.25 shortly after the data release. Natural gas closed at $3.27 per million BTUs on Wednesday, the highest close for the past five trading days. The 52-week range for natural gas is $2.72 to $3.62. One year ago the price for a million BTUs was around $2.90. According to Platts Analytics Bentek Energy, warmer weather across the United States caused demand to tumble from the prior week. Platts Analytics expects supply and demand estimates to translate into much larger injections in the East and Midwest regions, while the other three EIA regions are expected to see small increases compared to the previous week. For more visit yahoo.com or click the following link https://yhoo.it/2p8BmkG

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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