Industry Overview - The U.S. Energy Department reported a natural gas storage injection of 71 billion cubic feet (Bcf) for the week ended Sept. 5, exceeding market expectations of 69 Bcf and significantly above the five-year average of 56 Bcf [3] - Total natural gas stocks reached 3,343 Bcf, which is 38 Bcf (1.1%) below the 2024 level but 188 Bcf (6%) higher than the five-year average [4] - Natural gas futures experienced a weekly decline of 3.5%, closing at $2.941/MMBtu, influenced by a bearish storage build and softer demand [5][9] Long-term Outlook - Analysts project stronger withdrawals this winter, with inventories expected to normalize closer to historical averages by 2026, supported by rising LNG exports and resilient industrial demand [7] - The natural gas market is anticipated to stabilize near the $3/MMBtu mark, underpinned by steady U.S. production and continued LNG expansion [6] Company Focus - **Expand Energy (EXE)**: The largest natural gas producer in the U.S. post-merger, positioned to benefit from increasing demand driven by LNG exports and electrification trends. The 2025 earnings per share estimate indicates a 325.5% year-over-year surge [10][11] - **Coterra Energy (CTRA)**: An independent upstream operator with significant holdings in the Marcellus Shale, expected earnings per share growth rate for three to five years is 30.1%, outperforming the industry average [12][13] - **Excelerate Energy (EE)**: Specializes in LNG infrastructure, representing 20% of the global Floating Storage Regasification Units (FSRUs) fleet. The 2025 earnings per share estimate indicates a 5.5% year-over-year growth [14][15]

Industry Overview - The U.S. Energy Department reported a lower-than-expected increase in natural gas supplies, with stockpiles rising by 110 billion cubic feet (Bcf) for the week ended May 9, compared to analysts' expectations of 111 Bcf [2] - Total natural gas stocks reached 2,255 Bcf, which is 375 Bcf (14.3%) below the 2024 level but 57 Bcf (2.6%) higher than the five-year average [3] - Natural gas futures fell about 12% during the week, ending at $3.343/MMBtu, the lowest in two weeks, due to mild weather leading to subdued demand [4] Company Focus - **Expand Energy (EXE)**: The largest natural gas producer in the U.S. after the Chesapeake-Southwestern merger, with significant assets in the Haynesville and Marcellus basins. The Zacks Consensus Estimate for its 2025 earnings per share indicates a 458.2% year-over-year surge, with an 18.7% increase in estimates over the past 60 days [7][8] - **Coterra Energy (CTRA)**: An independent upstream operator with a focus on natural gas, owning approximately 183,000 net acres in the Marcellus Shale. The expected earnings per share growth rate for Coterra is 20.3% over three to five years, compared to the industry's 17.8% [9][10] - **Excelerate Energy (EE)**: Specializes in LNG infrastructure and services, representing 20% of the global Floating Storage Regasification Units (FSRUs) fleet. The Zacks Consensus Estimate for its 2025 earnings per share indicates a 10.2% year-over-year growth [11][12]