13
Feb

Wrap – Week Ended 02/12/21

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Modest up week.  We had a spot of difficulty with ice and connectivity towards the end of the week and posted our gas graphs in a Saturday post here.

Gas is likely to see ~ 500+ Bcf in combined withdrawals over the next two reports. Freeze offs are likely to exacerbate the situation and local market prices were soaring into the weekend.  Using 500 Bcf as nice round nubmer would push storage from current readings of 0.4% below year ago levels and 6.4% above the 5 year average to 10% below and 4% below respectively. This is near and medium term gas price supportive as we have seen no production response, no dip in LNG and  exports to Mexico which remain near record high levels and no surge in volumes coming down from Canada.

Holdings Watch:

  • The ZLT was up just under 1% on the week, is up 35.3% on the year, and is up 132.4% over the last 12 months.
  • Last week we added to one oily name, one oil service name, and one EV related name.
  • The Blotter is updated.
  • The positions page will be updated over the long weekend.

Enjoy the rest of 3 day weekend, our next post will be available early Tuesday morning.

Best,

Z

If you need to contact us email to zman@zmansenergybrain.com

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4 Responses to “Wrap – Week Ended 02/12/21”

  1. 1
    zman Says:

    Waha natural gas (Permian) said to be at $164 on Friday. This has been negative from time to time. Never seen it up here. Won’t last but great for names like CDEV, LPI.

  2. 2
    zman Says:

    Leidy, Dom North, Transco 6 NNY – starting to move.

    https://www.naturalgasintel.com/data-snapshot/daily-gpi/NEALEIDYT/

    https://www.naturalgasintel.com/data-snapshot/daily-gpi/NEACNGNP/

    https://www.naturalgasintel.com/data-snapshot/daily-gpi/NEATZ6NNYN/

    Good for SWN

  3. 3
    zman Says:

    Normally with the holiday we would post on Tuesday but with sporadic power outages expected due to the storm f(Uri) we will post a Monday/Tuesday post (in progress) instead overnight and add to it Monday and Tuesday.

  4. 4
    zman Says:

    WTI > $60
    Brent > $63

    NG up 12 cents at $3.03

    but

    Tetco M3 > $5.70
    Leidy (hub) > $3.80
    Henry Hub ~ $4
    TCO Pool Appalachia $4.98

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