Natural Gas Supply Glut Could Force Prices to Fall Farther
The Paragon Report Provides Stock Research on Anadarko Petroleum Corporation and Devon Energy Corporation
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 04/03/12 -- The current natural gas supply glut could see prices fall even farther. Gas remaining in storage after an unusually warm winter is likely to top storage facilities months ahead of schedule, further pressuring the market. Storage capacity in the United States is already at 60 per cent, with Natural Gas inventory levels increasing in the month of March for the first time since 1977. The Paragon Report examines the outlook for companies in the Oil and Gas Industry and provides equity research on Anadarko Petroleum Corporation (NYSE: APC) and Devon Energy Corporation (NYSE: DVN).
Access to the full company reports can be found at:
With demand expected to remain low, producers will see higher fees on pipelines to park the surplus volumes and could be forced to shut in production at the wellhead, said Martin King, an analyst with FirstEnergy Capital Corp. "It's going to be challenging, there's no doubt about it," King said.
A report by oil and gas analysts Bentek energy indicates that the early start to injection season will have serious implications for U.S. natural-gas working capacity, which will be tested in the coming months. "Assuming natural gas injections mimic last summer, the trajectory would imply inventories of 4,698 bcf by November, which is 220 bcf higher than total U.S. design capacity," Bentek said in a report. "The current high storage levels will intensify downward price pressure throughout the U.S. this fall and likely force additional production shut-ins if stronger demand does not materialize this summer."
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Oil and Gas Industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Anadarko Petroleum Corporation announced the Enyenra-4A appraisal well, located in the Deepwater Tano Block offshore the Republic of Ghana, encountered approximately 105 feet (32 meters) of net oil pay in high-quality sandstone reservoirs, expanding the areal extent of the TEN (Tweneboa, Enyenra and Ntomme) complex.
Devon Energy Corporation announced that its board of directors declared a quarterly cash dividend on Devon's common stock for the second quarter of 2012. The dividend is payable on June 29, 2012 at a rate of $0.20 per share based on a record date of June 15, 2012.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 03.04.2012 - 06:20 Uhr
Sprache: Deutsch
News-ID 1099463
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
NEW YORK, NY
Phone:
Kategorie:
Investment Services & Trading
Anmerkungen:
Diese Pressemitteilung wurde bisher 79 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Natural Gas Supply Glut Could Force Prices to Fall Farther
"
steht unter der journalistisch-redaktionellen Verantwortung von
Paragon Financial Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
