Working natural gas in storage was 1,564 Bcf as of Friday, April 20, 2007, according to EIA estimates. This represents a net increase of 18 Bcf from the previous week. Stocks were 276 Bcf less than last year at this time and 233 Bcf above the 5-year average of 1,331 Bcf. In the East Region, stocks were 36 Bcf above the 5-year average following net injections of 1 Bcf. Natural gas stocks in the Producing Region were 154 Bcf above the 5-year average of 493 Bcf after a net injection of 11 Bcf. Stocks in the West Region were 43 Bcf above the 5-year average after a net addition of 6 Bcf. At 1,564 Bcf, total working natural gas is within the 5-year historical range.

Working gas in storage was 1,546 Bcf as of Friday, April 13, 2007, according to EIA estimates. This represents a net decline of 46 Bcf from the previous week. Stocks were 217 Bcf less than last year at this time and 280 Bcf above the 5-year average of 1,266 Bcf. In the East Region, stocks were 73 Bcf above the 5-year average following net withdrawals of 43 Bcf. Stocks in the Producing Region were 163 Bcf above the 5-year average of 473 Bcf after a net withdrawal of 6 Bcf. Stocks in the West Region were 44 Bcf above the 5-year average after a net addition of 3 Bcf. At 1,546 Bcf, total working gas is within the 5-year historical range.

Natural Gas ETF

An natural gas based exchange-traded fund made its debut on Thursday. The United States Natural Gas Fund (UNG) is traded on the AMEX.

The fund expects its price to reflect the daily percentage change in the price of natural gas delivered at Henry Hub, La. The fund has an expense ratio of 0.6%.

"UNG intends to invest primarily in those futures contracts that are in the two months closest to expiration because we feel those contracts will permit the fund to best achieve its investment objective," said John Hyland, the fund's portfolio manager in a written statement. He added that the partnership "does not seek to use leverage in the portfolio to achieve its investment goals."

Working gas in storage was 1,592 Bcf as of Friday, April 6, 2007, according to EIA estimates. This represents a net increase of 23 Bcf from the previous week. Stocks were 119 Bcf less than last year at this time and 352 Bcf above the 5-year average of 1,240 Bcf. In the East Region, stocks were 124 Bcf above the 5-year average following net injections of 4 Bcf. Stocks in the Producing Region were 182 Bcf above the 5-year average of 460 Bcf after a net injection of 13 Bcf. Stocks in the West Region were 46 Bcf above the 5-year average after a net addition of 6 Bcf. At 1,592 Bcf, total working gas is within the 5-year historical range.

Working gas in storage was 1,569 Bcf as of Friday, March 30, 2007, according to EIA estimates. This represents a net increase of 58 Bcf from the previous week. Stocks were 127 Bcf less than last year at this time and 337 Bcf above the 5-year average of 1,232 Bcf. In the East Region, stocks were 118 Bcf above the 5-year average following net injections of 25 Bcf. Stocks in the Producing Region were 177 Bcf above the 5-year average of 452 Bcf after a net injection of 32 Bcf. Stocks in the West Region were 42 Bcf above the 5-year average after a net addition of 1 Bcf. At 1,569 Bcf, total working gas is within the 5-year historical range.

Natural Gas producer Pioneer Natural Resources Co. announced it has started production at a new natural gas field in Canada.

Production has begun at a rate of 18 million cubic feet of gas per day from three wells. Pioneer holds a 100 percent working interest and a 75 percent stake in net revenue from the field, assuming a 25 percent royalty to the government.

"This new play is expected to deliver strong returns and make a significant contribution to Pioneer's projected 2007 production growth in Canada of 30 percent to 35 percent," said Chairman and Chief Executive Scott Sheffield in a statement

Field operations, which are limited to the winter season, currently have capacity for 24 million cubic feet of gas per day, although that may be expanded up to 40 million cubic feet daily, Pioneer said.

The company holds about 375,000 acres in the field area with an average working interest of 98 percent. Pioneer said it has located six other potential prospects on the land; two have tested for gas and are awaiting development.