September 9, 2022

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Gas Markets

Market Watch

October gas futures struggled to regain an $8 handle on Friday, ending the session up 8.1¢ to enter the weekend at $7.996 per million Btu, down 79¢ on the week. Bulls and bears will wrestle for market direction in the week ahead as expectations for very bullish storage data run headlong into US domestic production approaching 100 billion cubic feet per day. The 12-month strip rose 7.3¢ to $6.655; the 2023 calendar strip was up 7¢ to $6.056 (Futures contracts).

WTI October crude rose $3.35 to $86.79/bbl, still down 8¢ for the week.

* * *

British Columbia's Westcoast Station 2 saw the most significant price move of the day, rising 26¢ to 6¢/MMBtu. Alberta benchmark Aeco fell $1.32 to $2.26. This compared to benchmark Henry Hub cash prices that were up 2¢ at $8.10. In the Northeast, Boston-area Algonquin declined 20¢ to average $7.25. In West Texas, cash prices at the Permian's Waha Hub fell 30¢ to average $6.61. Meanwhile, Rockies leader Kern/Opal fell 29¢ to $7.37, SoCal Citygate declined $3.85 to average $8.23 and Northwest Sumas lost 6¢ to average $7.34 (Daily cash prices).

* * *

Maintenance continues to crush prices in Western Canada after being unexpectedly extended into September. Pipeline-flow restrictions, which have had an outsize impact on the Westcoast Station 2 and Aeco markets for weeks, mainly stem from the lack of sufficient pipeline takeaway lack of capacity from the major production areas and exit points in Western Canada, said RBN analyst Martin King. For instance, the Nova Gas Transmission Limited system has cut to zero all interruptible volumes on its Upstream of James River corridor ferrying supply from the Montney until further notice. Exacerbating the constraints is a sustained surge in Montney gas production to near record levels averaging 17.48 Bcf/d in July.

* * *

The US rig count declined by one to 759 last week, up 256 from a year ago. Gas-directed rigs climbed four to 166, up 65 from a year ago, while oil rigs fell five to 591, up 190 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 86 rigs to 340, followed distantly by the Eagle Ford Shale, up 37 to 71. The Haynesville Shale rig count is up 23 at 71 (Rig counts).
Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
Westcoast Station 2Tenn 800 So LA Z1EmpressHenry Hub Kern - Wheeler RidgeSoCal CitygateKern River DeliveredAECOKingsgate-60%-40%-20%0%20%40%60%80%100%120%140%Westcoast Station 2Tenn 800 So LA Z1EmpressHenry Hub Kern - Wheeler RidgeSoCal CitygateKern River DeliveredAECOKingsgate
Note: Sep 9' 22 versus prior day price: points moving up (4), down (69).
Natural Gas Spot Prices
Trade Date: Sep. 9, 2022 / Flow Dates: Sep. 10-12, 2022
The above figures refer to volume-weighted averages for gas deals done today for tomorrow's flow, or weekend delivery on Friday trading, at each particular spot. Change reflects the difference from the previous published price. Composites reflect volume-weighted average for all deals done in the regional grouping. Daily Composite Spot Wellhead is a volume-weighted average for all producing area pipelines less gathering and processing costs. All prices are in $/MMBtu.

Critical Notices

Sort:
Count of Critical Notices in Last 7 Days
Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC051015202530354045Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Sep 9, '22
Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23($/MMBtu)55.566.577.588.59Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23CurrentLast Month
Henry Hub
Change from prior day, Sep 8 '22

Baker Hughes Rig Count

Baker Hughes US Gas Rig Count
7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 2260708090100110120130140150160170 7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 22202020212022
Gas Rigs by Basin
Rig Count as of Sep 9 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Sep 9 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Sep 8 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
685902104011299561142124012791246Sep 1Sep 2Sep 3Sep 4Sep 5Sep 6Sep 7Sep 8Sep 9(MMcf/d)0200400600800100012001400Sep 1Sep 2Sep 3Sep 4Sep 5Sep 6Sep 7Sep 8Sep 9NortheastSoutheastTexasUpper MidwestWestTotalYear-Ago
Note: Source: US Nuclear Regulatory Commission's Daily Power Reactor Status Report and Energy Intelligence,Historical data available via EI New Energy Data

Gas Prices, Power Prices and Spark Spreads for Major Hubs

Marginal Heat Rates (Btu/kWh)
2 Sep 22 3 Sep 22 4 Sep 22 5 Sep 22 6 Sep 22 7 Sep 22 8 Sep 22100002000030000400005000060000700008000090000 2 Sep 22 3 Sep 22 4 Sep 22 5 Sep 22 6 Sep 22 7 Sep 22 8 Sep 22Malin/COBSocal/Palo VerdeAlgonquin/NE PoolHouston SC - Katy/ErcotStanfield/Mid-Col.TZ6 NNY/PJM W
Note: Indicates the threshold heat rate for each gas/power pair. Below the MHR, gas-fired generation may be more cost effective vs. purchased power above. For holidays and weekends, the previous business day's values are displayed.
Gas, Power Prices & Spark Spreads for Generators Major Hubs

Renewable Energy

Gas Equivalent of Caiso Wind and Solar Output
31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep 8 Sep(MW)010002000300040005000600070008000(MMcf/d)1100120013001400150016001700180019002000210031 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep 8 SepCAISO Solar PVCAISO Solar ThermalCAISO WindTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of Ercot Wind Output
30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep 8 Sep(MW)05001000150020002500300035004000450050005500(MMcf/d)40060080010001200140016001800200022002400260030 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep 8 SepWind Generation (MW)Gas equivalent (MMcf/d)Gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of PJM Renewable Output
30 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep 8 Sep(MW)01000200030004000500060007000(MMcf/d)80010001200140016001800200030 Aug31 Aug 1 Sep 2 Sep 3 Sep 4 Sep 5 Sep 6 Sep 7 Sep 8 SepPJM SolarPJM HydroPJM WindPJM Other RenewablesTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data




Weather

Today's Short-Term Weather Forecast

Atlanta
Austin
Denver
Detroit
Las Vegas
Los Angeles
Minneapolis
Nashville
Philadelphia
Seattle
Washington
Boston
Orlando
New York
Leaflet | Weather from OpenWeatherMap
To change the layers on the map, click the icon to the left and choose the layer you want to display.
Layers available on weather map:
  • Temperature:
    Current ground temperature(in Fahrenheit).
  • Clouds:
    Displays the positions of the current cloud cover.
  • Precipitation:
    Displays current amount of falling water in liquid, sleet or snow form (in inches).
  • Wind speed:
    Displays the current wind speed(in knots).
  • Sea Level Pressure:
    Displays the current pressure at sea level(in millibars).
  • Snow:
    Displays the daily snow fall(in inches).
  • Rain:
    Displays today’s amount of rain fall(in inches).

Degree Days

Degree Days
1841921821781691691311323September4September5September6September7September8September9September10September0204060801001201401601802003September4September5September6September7September8September9September10SeptemberCDDHDDCDD AvgHDD Avg
Note: Cooling Degree Days is the sum of temperature variances above 65 degrees for 14 cities: Atlanta, Georgia, Austin, Texas, Denver, Colorado, Detroit, Michigan, Las Vegas, Nevada, Los Angeles, California, Minneapolis, Minnesota, Nashville, Tenn, Philadelphia, Pennsylvania, Seattle, Washington, Washington, DC, Boston, Massachusetts, Orlando, Florida, New York, New York. Heating Degree Days is the sum of temperature variances below 65 degrees for those same 14 cities.
Degree Days


Regional °F Degree Day Differentials
Values listed are the previous days' difference from the 5-year degree day average.

Ex: A value of -4° indicates previous days' degree days were 4 degrees below the 5-year average.

Northeast US
New York 3°
Orlando -1°
Boston 2°
Washington 3°
Seattle 1°
Philadelphia 4°
Nashville 0°
Minneapolis 9°
Los Angeles 13°
Las Vegas 7°
Detroit 10°
Denver 1°
Austin 4°
Atlanta -6°
Southeast US
New York 3°
Orlando -1°
Boston 2°
Washington 3°
Seattle 1°
Philadelphia 4°
Nashville 0°
Minneapolis 9°
Los Angeles 13°
Las Vegas 7°
Detroit 10°
Denver 1°
Austin 4°
Atlanta -6°

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