Cheniere and SandRidge Shares Jump as Natural Gas Prices Rally
18 June 2012 - 10:20PM
Marketwired
Natural Gas companies received a boost Thursday as U.S. natural gas
supplies showed a lower than expected weekly rise. Natural gas
futures rallied over 15 percent Thursday on the surprisingly
bullish inventory numbers. "The market was wrong-footed ahead of
the EIA number and the new shorts that piled in have turned and
covered," said Eugene McGillan, a broker and trader at Tradition
Energy. "Now we're triggering fresh technical buying." The Paragon
Report examines investing opportunities in the Natural Gas Industry
and provides equity research on Cheniere Energy, Inc. (NYSE: LNG)
and SandRidge Energy Inc. (NYSE: SD).
Access to the full company reports can be found at:
www.ParagonReport.com/LNG
www.ParagonReport.com/SD
The Energy Department's Energy Information Administration on
Thursday reported that for the week ended June 8 natural gas in
storage increased by 67 billion cubic feet. Analysts had expected a
jump of 71 billion to 75 billion cubic feet according to a survey
from Platts. Storage levels over the same period last year rose by
72 BCF. Natural gas futures on Thursday hit $2.46 per million
British Thermal Units (BTUs).
T. Boone Pickens earlier this week stated that natural gas
prices have bottomed and by next summer would rise to $3 or more.
Pickens stated that supplies have significantly been reduced as the
number of natural gas rigs in operation has dropped from 800 to
500.
Paragon Report releases regular market updates on the Natural
Gas Industry so investors can stay ahead of the crowd and make the
best investment decisions to maximize their returns. Take a few
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Cheniere Energy is a Houston-based energy company primarily
engaged in LNG-related businesses. The company owns and operates
the Sabine Pass LNG receiving terminal and Creole Trail pipeline in
Louisiana. The terminal has sent out capacity of 4.0 Bcf/d and
storage capacity of 16.9 Bcfe. Shares of Cheniere jumped 4.24
percent Thursday.
SandRidge Energy is an oil exploration and production company
headquartered in Oklahoma City, Oklahoma. SandRidge's drilling
activities are focused on its oil properties in the Mid-Continent
and Permian Basin. The company reported oil and natural gas revenue
increased 28 percent to $341 million in first quarter 2012 from
$267 million in the same period of 2011.
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