$UGAZ current inventory is 520BCF higher than that of last year same time. And the reason obviously due to the mild winter which pushed NG trade below 2.5 for longer time. Lower price of NG forcing weak producers to shut their rigs. 119 rigs compared to 202 last year. bigger fish (producers) eating smaller fish (weak producers). I personally think rigs should be 100 or below to offset the oversupply of 520 BCF storage.
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