The US Energy Information Administration reports that the amount of natural gas held in United States underground storage facilities reached a record high volume (8,087 billion cubic feet) in October, 2009.

“A proposal has been filed with the Federal Energy Regulatory Commission to develop a natural gas storage facility in underground salt deposits northeast of Eloy in southern Arizona.” Quoted from Arizona Geology Blog.

The Wall Street Journal has an article titled: “America’s Natural Gas Revolution: A ’shale gale’ of unconventional and abundant U.S. gas is transforming the energy market.”

“At the end of 2008, domestic natural gas proved reserves reached their highest level since the U.S. Energy Information Administration began reporting them in 1977. Total U.S. proved reserves of dry natural gas rose by 6.9 trillion cubic feet from 2007 to 2008.” Quoted from the Energy Information Administration report.

Allen Brooks has prepared “Deciphering the US Natural Gas Market” a summary of trends in natural gas prices and the United States natural gas market for EnergyTribune.

The Energy Information Administration sends weekly, monthly and annual updates on a variety of energy related subjects and you can get them free by email. For natural gas you can get updates on market conditions, prices, storage levels and more.

The amount of natural gas in storage has skyrocketed above the historic five year range. There is a lot of new gas entering the market and stocks are 517 billion cubic feet above the 5-year range. Data from EIA.

A blog post on the Wall Street Journal website explains how an excess of production over current consumption might lead to the widespread shutting in of natural gas wells until the winter heating season begins.

A group of Pennsylvania landowners are fighting an attempt to acquire their mineral rights through eminent domain for a natural gas storage field. They say that the $400 per acre being offered is a lot less than they could get by leasing the same property to Marcellus Shale landmen. More in the Lebanon Daily News.

A group of property owners want the right to produce natural gas from the Marcellus Shale but a proposed gas storage facility in the Oriskany Sandstone is only 110 vertical feet away. Which one has priority? Article in the Daily American.