Executives from oil and fuel corporations have revealed the place they count on the Henry Hub pure fuel value to be at numerous factors sooner or later within the second quarter Dallas Fed Vitality Survey, which was launched not too long ago.
The survey requested members what they count on Henry Hub pure fuel costs to be in six months, one yr, two years, and 5 years. Executives from 116 oil and fuel corporations answered this query and gave a imply response of $3.66 per million British thermal models (MMBtu) for the six month mark, $3.81 per MMBtu for the one yr mark, $4.12 per MMBtu for the 2 yr mark, and $4.50 per MMBtu for the 5 yr mark, the survey confirmed.
Executives from 117 oil and fuel corporations answered this query within the first quarter Dallas Fed Vitality Survey and gave a imply response of $3.71 per MMBtu for the six month mark, $3.98 per MMBtu for the yr mark, $4.30 per MMBtu for the 2 yr mark, and $4.83 per MMBtu for the 5 yr mark, that survey confirmed.
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The second quarter Dallas Fed Vitality Survey additionally requested members what they count on the Henry Hub value to be on the finish of this yr. Executives from 133 oil and fuel corporations answered this query and gave a mean response of $3.66 per MMBtu, the survey highlighted. The low forecast was $1.75 per MMBtu, the excessive forecast was $5 per MMBtu, and the common Henry Hub pure fuel each day spot value in the course of the survey was $3.30 per MMBtu, the survey identified.
Executives from 127 oil and fuel corporations answered this query within the first quarter Dallas Fed Vitality Survey and gave a mean response of $3.78 per MMBtu, that survey confirmed. The low forecast got here in at $2 per MMBtu, the excessive forecast was $5.25 per MMBtu, and the common Henry Hub pure fuel each day spot value in the course of the survey was $4.10 per MMBtu, that survey highlighted.
In a press release despatched to Rigzone final week by Enverus, the corporate’s subsidiary Enverus Intelligence Analysis (EIR) revealed that it was sustaining its NYMEX Henry Hub fuel value forecast.
“We forecast costs will common $3.60 per MMBtu this summer time and $3.85 per MMBtu within the winter,” EIR stated within the assertion.
“Nevertheless, aggressive storage injections place draw back danger to our near-term fuel value name,” EIR added.
In that assertion, EIR Director Al Salazar stated, “we discover the current Henry Hub transfer over $4 per MMBtu considerably unnerving”.
“Weekly storage injections are ~2.0 billion cubic toes per day over and above what the climate alone would point out,” Salazar added.
“At this tempo, fuel storage in place would simply exceed 4.0 trillion cubic toes by the tip of October. Clearly one thing has to provide,” Salazar continued.
The Federal Reserve Financial institution of Dallas states on its web site that it “conducts a quarterly survey of about 200 oil and fuel corporations positioned or headquartered within the Eleventh District – Texas, southern New Mexico and northern Louisiana – which function regionally, nationally or internationally”. The knowledge collected is a priceless element of financial evaluation and serves as enter for Federal Open Market Committee financial coverage deliberations, the Dallas Fed notes on its website.
EIR describes itself as a subsidiary of Enverus that publishes vitality sector analysis centered on the oil, pure fuel, energy, and renewable industries. Enverus describes itself as “probably the most trusted, energy-dedicated SaaS firm, with a platform constructed to create worth from generative AI, providing real-time entry to analytics, insights, and benchmark price and income knowledge sourced from our partnerships to 95 p.c of U.S. vitality producers, and greater than 40,000 suppliers”.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
