PE, the jump in gas-directed rig counts was a bit surprising when viewed in terms of what the public company managements have been saying but we need to remember that a lot of the acreage is held by privately held companies.
Net-net I'm actually pleased to see those rigs come on because, if we really do have a hot summer as is being predicted, we will be looking for more gas in 5-6 months, which is when the incremental gas supply from these rigs will probably start to come online.
Its interesting to see that Celsius is not calling for any of the remaining weeks this month to show a fill of 90 bcf or more. According to the American Oilman site, over the last 5 years the weeks #21,22,23 all typically show fillls > 90 bcf. The largest fill of the spring is usually in the report that will be 4 Thursday's from now, and so far its looking like this year's fill will be bullish to that by 8 bcf.