Guernsey Estimates Natural Gas Draw Down 41 - 48 BCF

Apr 02, 2001, 01:00 ET from C. H. Guernsey & Company

    OKLAHOMA CITY, April 2 /PRNewswire/ -- Economists at C. H. Guernsey &
 Company, an Oklahoma City based firm, have estimated draw down of natural gas
 between 41 and 48 billion cubic feet (BCF) for the last week in March although
 the normal draw down has averaged less than 15 BCF in recent years.  Using a
 natural gas model to estimate the changing storage injections and draw downs,
 the economists determined the increase in the draw down levels because of the
 cold weather in key cities.
     "The weather for the past week at the 15 critical weather points that
 affect storage levels at this time of the year was about 67 percent colder
 than normal.  This draw down will put the U.S. natural gas system at only two-
 thirds the average storage levels for recent years at the beginning of April.
 We can expect the added demand to get gas into storage before next winter to
 put upward pressure on gas prices over the next six or seven months," said
 Dr. Donald Murry, vice president of C. H. Guernsey & Company.
     The American Gas Association will release the results of its gas-in-
 storage, week-end survey on April 4.
     C. H. Guernsey & Company, a diversified architectural, engineering and
 consulting firm with approximately 170 employees, has its headquarters in
 Oklahoma City.  The firm has been serving the needs of clients for over
 70 years and has offices in Tulsa, Amarillo, Dallas, Tallahassee, Colorado
 Springs, Honolulu and Rock Island, Ill.
 
 

SOURCE C. H. Guernsey & Company
    OKLAHOMA CITY, April 2 /PRNewswire/ -- Economists at C. H. Guernsey &
 Company, an Oklahoma City based firm, have estimated draw down of natural gas
 between 41 and 48 billion cubic feet (BCF) for the last week in March although
 the normal draw down has averaged less than 15 BCF in recent years.  Using a
 natural gas model to estimate the changing storage injections and draw downs,
 the economists determined the increase in the draw down levels because of the
 cold weather in key cities.
     "The weather for the past week at the 15 critical weather points that
 affect storage levels at this time of the year was about 67 percent colder
 than normal.  This draw down will put the U.S. natural gas system at only two-
 thirds the average storage levels for recent years at the beginning of April.
 We can expect the added demand to get gas into storage before next winter to
 put upward pressure on gas prices over the next six or seven months," said
 Dr. Donald Murry, vice president of C. H. Guernsey & Company.
     The American Gas Association will release the results of its gas-in-
 storage, week-end survey on April 4.
     C. H. Guernsey & Company, a diversified architectural, engineering and
 consulting firm with approximately 170 employees, has its headquarters in
 Oklahoma City.  The firm has been serving the needs of clients for over
 70 years and has offices in Tulsa, Amarillo, Dallas, Tallahassee, Colorado
 Springs, Honolulu and Rock Island, Ill.
 
 SOURCE  C. H. Guernsey & Company