Will a Colder Than Usual Winter Rescue Struggling Gas Stocks?
December 15 2010 - 8:46AM
Marketwired
2010 will mark a year that most natural gas investors would like to
forget. A poor supply and demand outlook has sent stocks throughout
the sector into a tailspin and left many investors wondering when
prices will ever rebound. In the last few months, reports have
surfaced implying that the industry appears to be taking steps to
avoid catastrophe, though the outlook is highly dependent on
political action and (as always) the weather. The Bedford Report
examines investing opportunities in natural gas and provides
research reports on United States Natural Gas Fund (NYSE: UNG) and
Delta Petroleum Corporation (NASDAQ: DPTR). Access to the full
company reports can be found at:
www.bedfordreport.com/2010-12-UNG
www.bedfordreport.com/2010-12-DPTR
Natural gas supplies have grown in recent years as new
technologies have made it easier for producers to unlock previously
unreachable reservoirs in onshore shale formations. Some natural
gas producers have vowed to reduce natural gas drilling until the
gas becomes more valuable, however the chances of supply being
greatly reduced are minimal.
According to the Energy Department, around 52 percent of
American households use natural gas for heating. While weather
forecasts still call for a cooler-than-usual winter, a recent
government report showed there was an adequate supply of natural
gas to meet cold weather needs, while the US Energy Information
Association (EIA) said that natural gas in storages declined by 89
billion cubic feet.
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The spike in production and weak North American demand has paved
the way for a new trend in natural gas. With economies in Asia and
other emerging markets expanding, global gas demand is increasing
and US and Canadian natural gas producers could seek to become
natural gas exporters in the future.
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