November 23, 2022

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Gas Markets

Market Watch

A stew of increasingly bullish gas market drivers and thin trading volumes sent US gas futures soaring ahead of the Thanksgiving holiday, with the December contract rising 52.9¢ Wednesday to $7.308 per million Btu. The lead contract, which expires on Monday, has seen a $1.005 three-session gain. The 12-month strip rose 25¢ to $5.973; the 2023 calendar strip was up 22¢ at $5.857 (Futures contracts).

WTI January crude fell $3.01 to $77.94/bbl amid global demand concerns.

* * *

The US Energy Information Administration reported a 80 Bcf storage withdrawal for the week ended Nov. 18, lowering net working gas inventories to 3,564 Bcf. That compares with a five-year average draw of 48 Bcf. The deficit to the five-year average fell to 39 Bcf, or 1.1%. The deficit to last year reached 62 Bcf, or 1.7% (Storage).

* * *

British Columbia's Westcoast Station 2 saw the most significant price move of the day, falling 64¢ to $1.24. Alberta benchmark Aeco rose 25¢ to $4.97. This compared to benchmark Henry Hub cash prices that were up 22¢ at $6.44. In the Northeast, Boston-area Algonquin declined $1.65 to average $6.82. In West Texas, cash prices at the Permian's Waha Hub fell 20¢ to average $4.85. Meanwhile, Rockies leader Kern/Opal rose 37¢ to $9.97, SoCal Citygate advanced 6¢ to average $10.53 and Northwest Sumas gained 99¢ to average $11.70 (Daily cash prices).

* * *

The US rig count climbed two to 784 last week, up 215 from a year ago, Baker Hughes reported. Gas-directed rigs fell two to 155, up 53 from a year ago, while oil rigs climbed four to 627, up 160 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 72 rigs to 352, followed distantly by the Eagle Ford Shale, up 29 to 71. The Haynesville Shale rig count is up 23 at 69 (Rig counts).

Tom Haywood, Houston

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
StanfieldTetco-South TexasPG&E CitygateEmpressTenn 800 So LA Z1Transwes E of ThoreauEl Paso San JuanTenn Gas Zone 6AlgonquinWestcoast Station 2-35%-30%-25%-20%-15%-10%-5%0%5%10%15%StanfieldTetco-South TexasPG&E CitygateEmpressTenn 800 So LA Z1Transwes E of ThoreauEl Paso San JuanTenn Gas Zone 6AlgonquinWestcoast Station 2
Note: Nov 23' 22 versus prior day price: points moving up (66), down (10).
Natural Gas Spot Prices
Trade Date: Nov. 23, 2022 / Flow Dates: Nov. 24-28, 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 Natural GasKern River GasTransmission Co.Natural GasPipeline Co.Northwest PipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC051015202530354045505560Algonquin GasTransmissionColumbia GasTransmissionEl Paso Natural GasKern River GasTransmission Co.Natural GasPipeline Co.Northwest PipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Nov 23, '22
Dec '22Jan '23Feb '23Mar '23Apr '23May '23Jun '23Jul '23Aug '23Sep '23Oct '23Nov '23($/MMBtu)4.555.566.577.58Dec '22Jan '23Feb '23Mar '23Apr '23May '23Jun '23Jul '23Aug '23Sep '23Oct '23Nov '23CurrentLast Month
Henry Hub
Change from prior day, Nov 22 '22

Storage Report

North American Natural Gas Storage
Nov 24, '22
75%94%78%Lower 48CanadaLower 48 & Canada(BCF)050010001500200025003000350040004500500055006000Lower 48CanadaLower 48 & Canada
Note: The value shown in the bars represents the percentage full.
North American Weekly Gas Storage
Sources: US-EIA. Canada-RBN Energy. Values in Bcf unless otherwise noted.

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 Nov 23 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Nov 23 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Nov 22 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
224223152143207420641985174616401441Nov 15Nov 16Nov 17Nov 18Nov 19Nov 20Nov 21Nov 22Nov 23(MMcf/d)020040060080010001200140016001800200022002400Nov 15Nov 16Nov 17Nov 18Nov 19Nov 20Nov 21Nov 22Nov 23NortheastSoutheastTexasUpper 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)
16 Nov 2217 Nov 2218 Nov 2219 Nov 2220 Nov 2221 Nov 2222 Nov 22800010000120001400016000180002000016 Nov 2217 Nov 2218 Nov 2219 Nov 2220 Nov 2221 Nov 2222 Nov 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
14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov(MW)05001000150020002500300035004000450050005500(MMcf/d)750800850900950100010501100115012001250130014 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 NovCAISO 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
2 Oct 3 Oct 4 Oct 5 Oct 6 Oct 7 Oct 8 Oct 9 Oct10 Oct(MW)01000200030004000500060007000(MMcf/d)500100015002000250030003500400045005000 2 Oct 3 Oct 4 Oct 5 Oct 6 Oct 7 Oct 8 Oct 9 Oct10 OctWind 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
13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov(MW)01000200030004000500060007000800090001000011000(MMcf/d)1000120014001600180020002200240013 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 NovPJM 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
32034334436432426023622817 November18 November19 November20 November21 November22 November23 November24 November05010015020025030035040017 November18 November19 November20 November21 November22 November23 November24 NovemberCDDHDDCDD 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 9°
Orlando 3°
Boston 7°
Washington 9°
Seattle 0°
Philadelphia 9°
Nashville 6°
Minneapolis -5°
Los Angeles -3°
Las Vegas -1°
Detroit 6°
Denver -6°
Austin 0°
Atlanta 4°
Southeast US
New York 9°
Orlando 3°
Boston 7°
Washington 9°
Seattle 0°
Philadelphia 9°
Nashville 6°
Minneapolis -5°
Los Angeles -3°
Las Vegas -1°
Detroit 6°
Denver -6°
Austin 0°
Atlanta 4°

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