US NATGAS: Permian Gas Daily Fundamentals — Sep 23rd

Permian Gas: Daily Fundamentals Report: Waha closed up 14 cents on yesterday but remains below $2/MMBtu for the 9th consecutive trading day. Gulf flows have been volatile recently, likely contributing to the Waha swings. * Midland CDDs are forecast to rise above normal through the 28th and then abruptly fall below normal. Cumulative CDDs for the 5-day window are forecast to be 34 days above normal and 7 days below normal for the 6-10 day period. * Permian demand is down 94 MMcf/d to 4.0 Bcf/d, and is down 273 MMcf/d from last month. Demand is above 4.0 Bcf/d for the 12th but will likely fall below by the 28th. * Permian production is down 342 MMcf/d overnight at 26.1 Bcf/d after a 0.1 Bcf/d downward revision yesterday, and is down 386 MMcf/d last week. Production has averaged 27.1 Bcf/d MTD, which is up 1.5 Bcf/d from the August average. * Permian outflows are up 243 MMcf/d overnight to 14.4 Bcf/d. West bound flows are up 29 MMcf/d overnight, North bound is down 30 MMcf/d, and Gulf bound flows are up 244 MMcf/d on higher PHP flows.