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Gas & Oil shares - A Natgas Buying Window near $2.50?

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Natural Gas Recovers From Multi-Year Lows on Supply Data

The U.S. Energy Department's weekly inventory release showed a smaller-than-expected increase in natural gas supplies. However, the injection was higher than the five-year average and the year-ago rise. Therefore, despite a slight recovery, natural gas prices remained close to the lowest levels in more than three years because of growing fears that soaring production is outpacing demand growth.

Analysis: Less-Than-Expected Rise in Storage

Stockpiles held in underground storage in the lower 48 states rose by 98 billion cubic feet (Bcf) for the week ended Jun 21, below the guidance (of 100 Bcf gain) as per the analysts surveyed by S&P Global Platts. However, the increase was higher than the five-year (2014-2018) average net injection of 70 Bcf and last year’s increase of 71 Bcf for the reported week.

The latest rise in inventories puts total natural gas stocks at 2.301 trillion cubic feet (Tcf) - 236 Bcf (11.4%) above 2018 levels at this time but 171 Bcf (6.9%) under the five-year average.

Fundamentally speaking, total supply of natural gas averaged 94.2 Bcf per day, essentially unchanged on a weekly basis. While dry production inched up to 89.6 Bcf per day from 89 Bcf per day, 2% less gas flowed into the country from Canada.

Meanwhile, daily consumption was up 3.3% to 84.1 Bcf compared to 81.4 Bcf in the previous week primarily due to strong power sector demand amid warmer weather across the Southeast region.

Prices Recover Somewhat

The slightly smaller-than-expected climb in U.S. supplies drove a 5.6% weekly gain for natural gas – the best week since January – erasing some of the steep losses that have taken the commodity to lows not seen since May 2016. Still, natural gas – at $2.308 per MMBtu – is far off the $3.722 per MMBtu 2019-high reached in January. Last week, the fuel hit a more than three-year low of $2.185.

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BOUGHT a few shares of SWN, as it fell to new lows.  Why was it down again?

SWN / Southwestern Energy ... update / Last:

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== WHY Down so much?

The energy complex fell yesterday. Crude oil was down about 5%

OIH- etc... update / Last:

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Sym. : Last :  chg.: % chg. : ——-: Yr.Low-High : off Low: vsHigh
SWN: $2.88  -0.18, -5.88% (52wk: $2.85 - 6.23): + 0.4% : - 53.8%
NGas $2.24. -0.03,  -1.19%.           ($2.13 - 4.93):  + 5.2% : - 54.6%
WTI : $56.25 -2.84, -4.81%.       ($42.36 - 66.60): +32.8% : - 15.5%
USO: $11.70  -0.58, -4.72%          ($9.23 - 16.24): +26.8% : - 28.0%
OIH.: $14.44 -0.48, -3.22%.        ($13.01 - 27.45): +11.0% : - 47.4%
BTU: $22.95 -1.23,  -5.09%.       ($21.42 - 46.27): +  7.1% : - 50.4%
CHK: $  1.85  -0.11,  -5.61%.          ($1.71- $5.60): + 8.2% : - 67.0%
CNQ: $26.58 -0.39, -1.45%.          (21.85-  37.41): +21.6% : -28.9%
ECA : $ 4.96. -0.18,  -3.50%.          ($4.56- 14.28): + 8.8%  : - 65.3%
COP : $60.10 -2.15,  -3.45%.       ($56.75- 80.24): + 5.9% :  - 25.1%
====

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2019-07-19 09:00 U:RRC News Release Range Announces Asset Sales That Will Total $634 Million

FORT WORTH, Texas, July 19, 2019 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that it has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres in southwest Appalachia for gross proceeds totaling $600 million.  The two separate transactions are effective as of March 1, 2019 and apply to existing and future Marcellus, Utica and Upper Devonian development on the subject leases, while excluding shallower and deeper horizons.  The properties produced approximately 1.9 Bcfe net per day in the first quarter of 2019 and annualized cash flow associated with these overriding royalty sales is expected to approximate $48 million, based on first half 2019 pricing. 

Range also completed the sale of certain non-producing acreage in Pennsylvania for gross proceeds of $34 million that closed in June 2019. The properties sold included approximately 20,000 acres in northwest Armstrong County.  Sale processes to monetize additional non-core assets remain underway.  

The royalty interest transactions are scheduled to close during July 2019 with proceeds utilized to repay amounts outstanding under the Company’s revolving credit facility.  The combined gross proceeds of $634 million will reduce total debt by approximately 17%.  Annual interest expense is expected to decline by approximately $30 million and offset a significant amount of the cash flow reduction associated with the royalty sales. 

“Following the expected closing of these transactions, Range will have executed a $1 billion reduction in absolute debt over the past 12 months as the Company strengthens the business through organic free cash flow generation and asset sales”, said Jeff Ventura, CEO and President of Range Resources.  “These asset sales once again highlight the significant intrinsic value of our assets.  Over the past year, Range will have generated asset sale proceeds that equate to approximately 75% of our current market cap through the divestment of assets with a net impact to annual cash flow of less than 4%. 

=

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Encana (ECA) to Gain From Output Growth, Maintains 2019 ...

 
Jun 14, 2019 - Encana Corporation ECA has been riding high on impressive production from its core assets namely Permian, Montney and Anadarko. Notably ...
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Why Dividend Hunters Love Encana Corporation (TSE:ECA)

 
Jul 12, 2019 - Dividend paying stocks like Encana Corporation (TSE:ECA) tend to be popular with investors, and for good reason - some research suggests a ...

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IRAN - still in the news / as Oil & Gas look stronger

WTI Crude now ... link : SPX : $56.71

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WTI to Friday - closed at $55.75

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Natgas ... update : $2.29

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Up from $2.25 on Friday

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==

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NATGAS... Sooo Weak at $2.15 !

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Down to only 3.8% of WTI Crude prices

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RRC / Range to NatGas

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SWN / So'western Energy to NatGas

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==

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ANOTHER DOWN DAY ... to $2.12

Really oversold now

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Yet another TRY for a Bottom in NATGAS? (Or is it in place at $2.03 already?)

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Larry Pesavento thinks we are near a bottom and once Natgas turns higher, it will run for a long time

> https://www.listennotes.com/podcasts/trade-what-you-see/trade-what-you-see-08-06-19-j2miW6wLFpa/

Natgas down 1.3%. Crude was down 2.7%.  NatGas/WTI ratio rose again.  Will NG rally hard, when Crude rallies?

Natgas to-WTI

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USO/ US Oil etf : $10.84 - 0.30, -2.69% O: 10.81 / H: 10.89 L: 10.49.  closed near Hi-Day

Sym. : Last :  chg.: % chg.:  Yr. Low-High : off Low: vsHigh: EntVal. Ebitda: EV/Eb: PR.BV: PER: Yield
NGas $2.08. - 0.03,  - 1.33% ($2.03 - 4.93): +2.46% : - 57.8%:
CNQ: $23.70, -0.01, - 0.04% (21.85 -35.95): +8.47% : - 34.1%: $28.3B: $4.55B: r6.22 : 110.%:  11.6 : 4.41%
CHK: $  1.39, Unch., +0.00% ($1.26- $4.98): +10.3% : - 72.1%: $14.6B : $3.08B: r4.75 : 90.0%; 2.67: N/A -
ECA : $ 4.17, +0.07, + 1.71% ($3.93- 13.64): +6.11% : - 69.4%: $14.2B : $3.57B: r3.97 : 56.0%: 4.06: 1.67%
GTE : $ 1.45, Unch., +0.00% ($1.40- $3.96): +3.57%: - 63.4%: $1.04B: $399.m: r2.62 : 54.0%:  7.14: N/A -
MUR: $21.64, - 0.41, -1.86% (21.06- 36.53): +6.42%: - 40.8%: $7.65B: $1.85 B: r2.75 : 76.0%: 13.4: 4.54%
RRC : $ 4.42, +0.11, +2.55% ($4.09- 18.60): +8.07%: - 76.3%: $4.90B: $1.32 B: r3.70 : 26.0%: N/A-: 1.81%
SWN: $ 1.89, Unch., +0.00% ($1.64- 6.23) : +15.2% : - 69.7%: $3.06B: $1.36 B: r2.26 : 35.0%: 1.16 : N/A -
SLB : $34.74, -0.72, - 2.03% (33.94- 66.67): +2.36%: - 47.9%: $48.1B: $6.62B: r10.1 : 134.%: 23.2: 5.76%
HAL : $19.65, -0.30  -1.50% (19.12 - 42.57) : +2.77%: - 53.8%: $27.8B: $3.88B: r7.16 : 181.%: 13.0: 3.50%
Bte.t: $ 1.78, - 0.10, -5.32%  ($1.74- $4.73): + 2.30%: - 62.4%:  $3.01B: $967m: r3.11 : 32.0%: N/A-: N/A-
Sgy.t: $ 1.16, - 0.03, -2.52%  ($1.06- $2.73): +19.8%: - 53.5%:  $835m: $138.m: r6.07 : 44.0%: N/A-: 8.62%
VII.T : $ 6.72 - 0.09, -1.32%.  ($5.99- 16.82): +12.1 %: - 60.0% : $4.39B: $1.93B:  r2.27 : 46.0%:  3.23: N/A-
=====

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