Briefly Noted

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Gross US Lower 48 natural gas production rose 1.1% from March to April to 103.47 billion cubic feet per day. April production is up 0.3% from a year earlier, according to the Energy Information Administration monthly production report. US Gulf of Mexico production fell 2.6% to 2.33 Bcf/d; Texas production was up 3.2% from a month earlier at 28.72 Bcf/d; Oklahoma production levels were up 0.6% to 7.12 Bcf/d; and Pennsylvania output fell 1.3% to 20.62 Bcf/d. * * * Analysts are expecting a slightly above average 68 Bcf storage build for the week ended Jun. 25 when the US Energy Information Administration reports data Thursday. This compares to the five-year average injection of 65 Bcf and last year’s 73 Bcf build. Models range from injections of 55 Bcf to 75 Bcf. If consensus is correct, the storage level will be 5.6% below the five-year average and 16.9% below last year’s levels, according to Reuters. Meanwhile, models for the week ending Jul. 2 are for a smaller-than-average build of 48 Bcf, with models ranging from 25 Bcf to 67 Bcf. That compares with a five-year average increase of 63 Bcf and a 57 Bcf injection during the same week last year. * * * Arevon Asset Management opened the 100 megawatt Saticoy battery energy storage system in Ventura County, California. The Saticoy facility northwest of Los Angeles was built after local residents and community leaders helped stop plans for a proposed gas peaker plant. Electricity from the site is supplied to Southern California Edison under the terms of a 20-year purchase and sale agreement. The project was developed by Strata Clean Energy. The system uses 142 Megapacks, Tesla’s utility-scale battery storage product. It also will use a battery storage performance management platform from Power Factors. Energy stored on the site can power the city of Oxnard for four hours or all of Ventura County for 30 minutes.

Exploration, Gas Inventories, Gas Prices, Electricity Prices
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