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Oil, Gas, And Fracking News Reads: 20December 2020

The natural gas storage report from the EIA for the week ending December 11th indicated that the quantity of natural gas held in underground storage in the US had decreased by 122 billion cubic feet to 3,726 billion cubic feet by the end of the week, which left our gas supplies 284 billion cubic feet, or still 8.3% higher than the 3,442 billion cubic feet that were in storage on December 11th of last year, and 243 billion cubic feet, or 7.0% above the five-year average of 3,483 billion cubic feet of natural gas that have been in storage as of the 11th of December in recent years..the 122 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast from an S&P Global Platts survey of analysts who had expected a 127 billion cubic foot withdrawal, but was higher than the average withdrawal of 105 billion cubic feet of natural gas that have typically been pulled out of natural gas storage during the same week over the past 5 years, and the

Oilfield Services Firms Gaining Value

Check out this review of oil and gas market hits and misses for the week ending Dec. 11, 2020. (The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) A gauge of the market capitalization of oilfield services (OFS) companies has risen markedly since late-October, indicating an uptick in the sector. Read on to learn about this encouraging development, along with other recent oil and gas market trends. Rigzone: What were some market expectations that actually occurred during the past week – and which expectations did not?

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