29
Mar

Wrap – Week Ended 3/27/20

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Questions and comments under The Wrap will be addressed in the Monday post.

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There were no trades last week. The Blotter is updated.

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Be safe, stay home (or like us go to wide open spaces with no people), and wash hands.

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8 Responses to “Wrap – Week Ended 3/27/20”

  1. 1
    Baylor Says:

    Pretty striking to see the NG short position unwind from over 500,000 short to 300,000 and have NG price still be destroyed.

    a YOLO bet may be presenting itself.

    I don’t usually do YOLO bets but other bets have had similar results so i may have to consider it. ha!

  2. 2
    zman Says:

    re 1

    • margin requirements were increased.
    • fundamental improvement not yet in collective energy mind thinking.
    • supply was off 1.5 Bcfgpd YoY last week
    • thought of natural gas associated with potential oil well shut ins also not from what I can tell in the collective thinking, certainly have not seen the energy media note it.
  3. 3
    elduque Says:

    I agree with you re Nat Gas. Looking forward to a gassy update.

  4. 4
    nrgyman Says:

    RE 2: How much will flared natgas substitute for associated natgas that becomes shut-in, freeing up the takeaway capacity for natgas?

  5. 5
    zman Says:

    The Monday post will be out around 1 am EST.

  6. 6
    nrgyman Says:

    PXD and EPD are asking producers to voluntarily reduce production. Storage capacity limits in sight.

  7. 7
    zman Says:

    re 6 – addressed in the subscriber mailbag in tomorrow’s post.

  8. 8
    zman Says:

    $20 test in progress.
    Mid-Cush April to -$8.
    Shut ins can’t be far away.

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