BUZZ-Stocks of US natgas companies rise as daily production drops

Reuters04-07 22:14
BUZZ-Stocks of US natgas companies rise as daily production drops

** Shares of U.S. natural gas companies rise, tracking an uptick in natgas futures NGA/

** U.S. natgas futures NGc1 up 2.2% at $2.87 per million British thermal units

** Natgas prices edge up on a preliminary decline in daily output

** Prices increase despite forecasts for milder weather and lower demand over the next two weeks than previously expected and a daily decline in the amount of gas flowing to U.S. LNG export plants

** In the cash market, average prices at Waha HubNG-WAH-WTX-SNL in West Texas remained in negative territory for a record 42 days in a row as pipeline constraints continued to trap gas in the Permian region

** Natgas cos NextDecade NEXT.O jumps 3.3%, Cheniere Energy LNG.N adds 1.9%, Energy Transfer ET.N gains 1.6% and Williams Companies WMB.N rises ~1%

** Natgas ETFs also rise, with United States Natural Gas Fund UNG.P up 2.5% and ProShares Ultra Bloomberg Natural Gas BOIL.P up 4.7%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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