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Bentek Top Stories
BENTEK Top Stories
Production back up above 30-day average
Production increased over the weekend hitting 24.3 Bcf/d on Sunday, up over 600 MMcf/d from Friday’s low of 23.6 Bcf/d and once again placing it above the 30-day average of 24.2 Bcf/d. Demand slipped on Saturday down to 12.5 Bcf/d, nearly 1.5 Bcf/d below the previous seven day average. The increase in production was mainly caused by the Sherwood plant outage on TCO that happened on Friday coming back online, which brought with it the additional 500 MMcf/d of production. The demand drop over the weekend was driven by a 250 MMcf/d drop in power plant demand in Virginia but more generally around the Northeast as temperatures began to cool off from the previous week’s hotter weather. Looking at the rest of this week, production is forecast to stay steady around 24.4 Bcf/d but with warmer weather in the Northeast scheduled to heat back up later in the week, demand is expected to average 14.7 Bcf/d for Monday, Tuesday and Wednesday and then increase to 15.6 Bcf/d by Thursday.
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