Due to tomorrow's holiday in the US the rig count and storage numbers were released today (sorry I missed last weeks).  In any case the storage numbers were quite bullish with a draw from storage of 38 bcf to leave total storage at 3873 bcf.  We are now only 0.6% above last years storage numbers and 4.5% above the five year average (still have a little work to do there).  Last year from Nov. 3 to Dec. 1 we had a net injection of 142 bcf.  So far this year starting from Nov 1 we have only had a net injection of 30 bcf into storage  with a probable withdrawal from storage next week.  The rig count reduction is kicking in nicely and lets hope to see further declines from storage all winter long.  Speaking of rig counts, today's number shows an increase of 11 nat gas rigs in the US to total 428.  That's 437 less than last year's numbers of 865.   In Canada the rig count stayed steady at 106, which is 68 less than last years numbers of 174.  Nat gas futures are looking good with an average of $4.00 or more from Jan/13 onward.  I hate to jinx it, but it's starting to look (a lot like Christmas) like the worse might finally be over for nat gas prices and producers.  Weather will still be a huge factor these next three or four months.

Thanks gasex/SH PEY Forum