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UGAZ vs. ETF Alternatives
"The VelocityShares 3x Long Natural Gas ETNs linked to the S&P GSCI® Natural Gas Index ER (the “ETNs”) are senior, unsecured obligations of Credit Suisse AG (“Credit Suisse”) acting through its Nassau branch. The ETNs seek to provide long exposure to three times (3x) the daily performance of the S&P GSCI® Natural Gas Index ER (the “Index”) plus a daily accrual equal to the return that could be earned on a notional capital reinvestment at the three month U.S. Treasury rate as reported on Bloomberg under ticker USB3MTA, less the daily investor fee."
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Friday, Nov 292:40 PM
Tuesday, Nov 267:34 AMMore gas found off Israel's coast
Tuesday, Nov 267:34 AM| Comment!
- Delek Drilling (DKDRF) has found significant signs of a new natural gas deposit at the Tamar Southwest field off Israel's Mediterranean coast.
- Earlier estimates have said that the reserve could hold 20B cubic meters of gas.
- Delek Drilling's partners in the project are Isramco Negev 2, Avner Oil Exploration (AVOGF) and Dor Gas Exploration. Delek Drilling and Avner are subsidiaries of Delek Group (DGRLY).
- The deposit is close to the Tamar field, which is estimated to hold 10T cubic feet of gas.
- ETFs: GAZ, UGAZ, BOIL, DGAZ, KOLD, NAGS, GASZ, DCNG
Saturday, Nov 99:11 AMCheap natural gas hits NYC in "game changer" for the region
Saturday, Nov 99:11 AM| 8 Comments
- Natural gas prices in Manhattan are cheaper than in Louisiana these days, thanks to a pipeline that opened Nov. 1 which has effectively doubled the amount of natural gas flowing into Manhattan and steadily pulled down the island’s delivery price.
- Spectra Energy’s (SE) new pipeline, the first to be built to New York in 40 years, gathers gas from various sources including Pennsylvania's Marcellus Shale.
- SE says lower natural gas prices will reduce energy costs businesses and residents pay by $350M/year in New York and by the same in New Jersey, and analysts say the claims are legit; it will help clean up the air too.
- The pipeline met opposition from groups arguing that it encourages fracking, but New Yorkers already consumed fracked natural gas - now they’ll at least stop overpaying for it.
- ETFs: UNG, GAZ, UGAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG.
Monday, Oct 1410:50 AMRising U.S. nat gas prices may make exports less competitive
Monday, Oct 1410:50 AM| 1 Comment
- U.S. natural gas may not end up being as cheap as expected in the long term, as higher production costs and stronger demand make exports less competitive on the global marketplace, energy company executives say.
- Henry Hub prices are in one of the low price cycles and below replacement costs, which can't be sustained if history is a guide, says Exxon (XOM) global LNG V.P. Richard Guerrant.
- Looking forward to 2020-25, producing only the dry shale gas without the associated oil won't be profitable at $4 or $5/M BTU, says ConocoPhillips' (COP) V.P. of Commercial, Business Development and Corporate Planning Don Wallette.
- ETFs: UNG, GAZ, UNL, NAGS, DCNG, BOIL, KOLD, UGAZ, DGAZ, FCG, GASL, GASX.
Wednesday, Jul 319:58 AMCentrica-Hess deal implies bearish view of natural gas prices
Wednesday, Jul 319:58 AM| Comment!
- Centrica's (CPYYF.PK) $1B deal for Hess' (HES) energy marketing operations, which supplies businesses on the U.S. east coast, is a signal the U.K. utility - which was on the margins of the sector but now becomes one if its biggest players - is bearish on natural gas prices and has implicitly taken a $1B short position, WSJ's Liam Denning writes.
- The acquired business sells gas but doesn’t produce any, so it performs best when prices are reasonably low and stable.
- Centrica suggests more U.S. acquisitions may be ahead, since lower North American gas prices make it attractive vs. the U.K., where costs are rising.
Monday, Dec 242012, 2:57 PM