SOURCE: Five Star Equities

Five Star Equities

October 02, 2012 08:20 ET

Nation's Supply Glut of Natural Gas Could Worsen With Introduction of New Pipelines Later This Year

Five Star Equities Provides Stock Research on Apache and Linn Energy

NEW YORK, NY--(Marketwire - Oct 2, 2012) - In 2011, the U.S. met 81 percent of its energy demand, the highest since 1992, according to data compiled by Bloomberg. The surge in hydraulic fracturing in shale formations played a major role, and has also resulted in a vast oversupply of natural gas. According to the Energy Department's Short-Term Energy Outlook by the end of October natural gas inventories could reach a record of 3.95 trillion cubic feet. Five Star Equities examines the outlook for companies in the Oil & Gas Industry and provides equity research on Apache Corporation (NYSE: APA) and Linn Energy, LLC (NASDAQ: LINE).

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New natural gas pipelines being introduced later this year will look to add to the nation's current supply glut. New pipelines could boost deliveries from the Marcellus shale deposit in the Northeast by as much as 30 percent. According to numbers from the Energy Department there are approximately 1,000 Marcellus shale wells that are uncompleted due to a lack of pipeline access.

"There are new pipelines coming up and Marcellus gas is going to flood storage going into winter," Price Futures Group senior market analyst, Phil Flynn, said in a recent phone interview. "Unless you get a really cold winter, prices are going to be in the $2 range."

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Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina. The company recently reported that the Mbawa 1 offshore exploration well in Kenya encountered natural gas. Apache has 50 percent interest in the Mbawa 1 well and is the operator.

LINN Energy is a top-15 U.S. independent oil and natural gas development company, with approximately 5.1 Tcfe of proved reserves (pro forma for closed 2012 acquisitions) in producing U.S. basins as of Dec. 31, 2011. To-date, the company has drilled and completed 12 Hogshooter wells with an average initial production rate of 2,110 Bbls/d of oil, 528 Bbls/d of NGLs and 3.4 MMcf/d of natural gas per well.

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