Guernsey Finds Higher Natural Gas Withdrawals

02.11.2002

OKLAHOMA CITY - After three weeks of relatively small natural gas storage draw downs, last week's cold weather produced withdrawals much higher than the five-year average according to the gas models of C. H. Guernsey & Company.

The GUERNSEY models estimated a net withdrawal of gas in storage of between 133 and 145 billion cubic feet (bcf) last week with 89 bcf coming from Eastern storage alone. The net withdrawal estimated by the American Gas Association was 95 bcf for the same period last year.

The models use the weather from 15 cities in estimating gas usage and natural gas price movements. Reporting the weather averaged 56 percent colder than the previous week in statistically significant northern cities, Dr. Donald Murry, GUERNSEY Vice President, said. Despite last week's draw down, the gas in storage is still nearly 45 percent above the five-year average. ''The high gas-in-storage levels are still the major market influence, holding down current and even forward prices for summer gas,'' Murry said.

C. H. Guernsey & Company offers the highest quality engineering, architectural and consulting services to clients in the United States and abroad. The firm has provided innovative solutions for over 73 years. GUERNSEY has its headquarters in Oklahoma City with offices in Amarillo, Texas; Atlanta, Ga.; Dallas, Texas; Colorado Springs, Colo.; Honolulu, Hawaii; Orlando, Fla; Tulsa, Okla.; Rock Island, Ill.; and Tallahassee, Fla.

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