SOURCE: Research Driven Investing
NEW YORK, NY--(Marketwire - Feb 27, 2013) - Natural gas prices have been trending upwards recently on improved heating demand. It is estimated that approximately 50 percent of households in the U.S. use natural gas for heating according to data from the Energy Information Administration (EIA). The United States Natural Gas Fund, LP (UNG) has spiked nearly 7 percent in the past week. Research Driven Investing examines investing opportunities in the Natural Gas Industry and provides equity research on Quicksilver Resources Inc. (NYSE: KWK) and Southwestern Energy Company (NYSE: SWN).
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A prediction for colder-than-average weather from the National Weather Service over weekend sent natural gas futures surging 3.7 percent Monday. Futures settled at $3.414 per million British thermal units (MMBtu) Monday, which was the highest since February 6th. According to the EIA's Short-Term Energy Outlook Henry Hub natural gas spot price is expected to average $3.53 per MMBtu in 2013 and $3.84 per MMBtu in 2014, natural gas averaged $2.75 per MMBtu.
Natural gas working inventories ended January 2013 at an estimated 2.7 trillion cubic feet, approximately 0.2 trillion cubic feet lower than a year ago; inventories reached a record high in early November 2012.
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Quicksilver Resources focuses on the development of unconventional natural gas and oil reservoirs found in fractured shales and coal seams. The company's four productive hydrocarbon areas (Texas, Rocky Mountains, Alberta and British Columbia) are all unconventional natural gas and oil plays at different stages of maturity, development and production. Quicksilver produced a total of 132 billion cubic feet of natural gas equivalent (Bcfe) in 2012.
Southwestern Energy Company is an independent company whose wholly owned subsidiaries are engaged in oil and gas exploration and production, natural gas gathering and marketing. The company reported total gas and oil production of 149.9 Bcfe in the fourth quarter of 2012, an increase of 12 percent when compared to the 133.3 Bcfe produced in 2011.
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