Guernsey Estimates Natural Gas Levels Normal

10.08.2003

OKLAHOMA CITY – Economists at C. H. Guernsey & Company estimate the natural gas net injection will return to a normal level, which is roughly 58 billion cubic feet (Bcf) for the week ending Oct. 3. The estimate goes against several weeks of natural gas storage injections exceeding historical levels.

Based on normal to slightly colder-than-normal weather forecasts in some key cities for this week and the next two weeks, Donald Murry, Ph.D., vice president, and Zhen Zhu, Ph.D., GUERNSEY economist, have revised their natural gas storage injections forecasts.

“We are predicting another favorable injection level of 90 Bcf for the week ending October 10, and injections of 77 Bcf and 48 Bcf for the following two weeks,” said Murry. “At this rate we will achieve the 3,100 Bcf level by the beginning of heating season.”

This is an estimated 273 Bcf total injection into storage for the first four weeks of October. For the same four-week period last year, the net injections totaled 134 Bcf.

The Energy Information Administration will announce its survey results of the injections and withdrawals from natural gas storage facilities on Thursday.

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EDITOR'S NOTE:

C. H. Guernsey & Company Background Information:
C. H. Guernsey & Company, celebrating its 75th year of business, offers the highest quality engineering, architectural and consulting solutions to clients in the United States and abroad. GUERNSEY has its headquarters in Oklahoma City with offices in Colorado, Florida, Georgia, Hawaii, Illinois and Texas.