T Boone Pickens Interview

DVN Forecasts Higher Barnett Shale Production

Devon Energy (NYSE DVN) forecasts that production in the Barnett Shale will hit 1 billion cubic feet per day during the second quarter of 2008.

DVN currently produces 970 million cubic feet of natural gas per day from it's Barnett Shale operations in Texas. DVN uses both vertical and horizontal wells to captured natural gas held in shale deposits.

Natural gas futures gained 5 cents on Friday to close at $9.735 per 1,000 cubic feet.

Natural Gas Inventory Report 3-27-08

Working gas in storage was 1,277 Bcf as of Friday, March 21, 2008, according to EIA estimates. This represents a net decline of 36 Bcf from the previous week. Stocks were 240 Bcf less than last year at this time and 33 Bcf above the 5-year average of 1,244 Bcf. In the East Region, stocks were 19 Bcf above the 5-year average following net withdrawals of 33 Bcf. Stocks in the Producing Region were 38 Bcf above the 5-year average of 456 Bcf after a net injection of 4 Bcf. Stocks in the West Region were 24 Bcf below the 5-year average after a net drawdown of 7 Bcf. At 1,277 Bcf, total working gas is within the 5-year historical range.

Natural Gas Continues To Trend Higher

Natural Gas for May delivery traded higher on Wednesday, crossing and closing above the 10 day moving average, which indicates the likelihood of a higher opening on Thursday ahead of the latest inventory data.

InsideThePipelines.com will report the weekly natural gas inventory data immediately after the release at 10:30 am ET on Thursday.

Weather Outlook Lifts Natural Gas

A relatively cold forecast for much of the US over the next two weeks helped spur natural gas prices higher on Tuesday.

April natural gas closed up 9 cents to $9.419 in trading on the NYMEX.

Natural gas continued to trade higher on Monday after prices found support at the 50 day moving average.

April natural gas finished up 26.4 cents (2.9%) to close at $9.329 in trading on the NYMEX.

Natural Gas bounced off the 50 day moving average before closing slightly higher on Thursday.

Natural Gas Inventory Report 3-20-08

Working gas in storage was 1,313 Bcf as of Friday, March 14, 2008, according to EIA estimates. This represents a net decline of 85 Bcf from the previous week. Stocks were 215 Bcf less than last year at this time and 29 Bcf above the 5-year average of 1,284 Bcf. In the East Region, stocks were 14 Bcf above the 5-year average following net withdrawals of 66 Bcf. Stocks in the Producing Region were 33 Bcf above the 5-year average of 457 Bcf after a net withdrawal of 22 Bcf. Stocks in the West Region were 19 Bcf below the 5-year average after a net addition of 3 Bcf. At 1,313 Bcf, total working gas is within the 5-year historical range.

Natural Gas Pauses Amid Breakout

In Friday's NYMEX trading natural gas futures fell 15 cents to $10.08 per 1,000 cubic feet. Natural gas is up 42% from the same period in 2007.

Natural Gas Inventory Report 3-13-08

Working gas in storage was 1,398 Bcf as of Friday, March 7, 2008, according to EIA estimates. This represents a net decline of 86 Bcf from the previous week. Stocks were 151 Bcf less than last year at this time and 57 Bcf above the 5-year average of 1,341 Bcf. In the East Region, stocks were 30 Bcf above the 5-year average following net withdrawals of 54 Bcf. Stocks in the Producing Region were 52 Bcf above the 5-year average of 460 Bcf after a net withdrawal of 23 Bcf. Stocks in the West Region were 24 Bcf below the 5-year average after a net drawdown of 9 Bcf. At 1,398 Bcf, total working gas is within the 5-year historical range.

1971 Natural Gas PSA

Natural Gas Hits 2 Year High

Natural Gas Inventory Report 3-06-08

Working gas in storage was 1,484 Bcf as of Friday, February 29, 2008, according to EIA estimates. This represents a net decline of 135 Bcf from the previous week. Stocks were 169 Bcf less than last year at this time and 63 Bcf above the 5-year average of 1,421 Bcf. In the East Region, stocks were 24 Bcf above the 5-year average following net withdrawals of 92 Bcf. Stocks in the Producing Region were 63 Bcf above the 5-year average of 472 Bcf after a net withdrawal of 36 Bcf. Stocks in the West Region were 25 Bcf below the 5-year average after a net drawdown of 7 Bcf. At 1,484 Bcf, total working gas is within the 5-year historical range.