Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 8:00 8:45 9:30 10:15 11:00 11:45 12:30 13:15 14:00 Prior Day s NYMEX Nov-17 Contract (CT) 2.92 2.91 2.90 2.89 2.88 2.87 2.86 2.85 NYMEX NG Futures Nov-17 2.890 (0.029) Dec-17 3.051 (0.031) Jan-18 3.175 (0.028) Feb-18 3.178 (0.027) Mar-18 3.139 (0.026) Apr-18 2.953 (0.014) May-18 2.933 (0.014) Jun-18 2.961 (0.014) Jul-18 2.990 (0.013) Aug-18 2.992 (0.013) Sep-18 2.974 (0.013) Oct-18 2.996 (0.013) Nov-18 3.049 (0.013) Dec-18 3.182 (0.012) Jan-19 3.262 (0.012) Feb-19 3.233 (0.010) Mar-19 3.159 (0.008) Apr-19 2.794 0.009 May-19 2.748 0.011 Jun-19 2.769 0.011 Jul-19 2.790 0.011 Aug-19 2.789 0.011 Sep-19 2.772 0.011 Oct-19 2.794 0.011 1YR Strip 3.019 (0.020) 2017 2.971 (0.030) 5YR Strip 2.917 (0.003) I N T H E N E W S Michigan forecast to return to normal winter temps, yet natural gas prices expected to remain near historic lows Business Insider reports: DETROIT, Oct. 27, 2017 /PRNewswire/ -- A more typical Michigan winter is expected this year, in contrast to last Michigan forecast to return to normal winter temps, yet natural gas prices expected to remain near historic lows Marathon Oil gets permission to flare natural gas from 21 wells year's unseasonable warmer winter temperatures. As the cold weather sets in, DTE Energy is advising Michigan residents to start planning now for colder temperatures and the resulting increased use of natural gas. DTE encourages customers to take proactive measures to reduce their natural gas usage by installing programmable thermostats, increasing insulation and weatherproofing drafty air leaks to stay warm and comfortable this winter. If Michigan does experience a typical winter, DTE customers in southeast Michigan will spend, on average, $20 to $30 more over the six-month heating season compared to the same sixmonths last year. This number could vary across the state in diff e r e n t t e m p e r a t e r e g i o n s. F o r m o r e v i s i t markets.businessinsider.com or click the following link http://read.bi/2yvinuc Marathon Oil gets permission to flare natural gas from 21 wells Prairie Public reports: North Dakota's Industrial Commission has given Marathon Oil permission to flare natural gas from 21 oil wells in Dunn County. The wells are close to the Bear Creek natural gas processing plant. But state Mineral Resources director Lynn Helms said the 21 are older wells, and they produce hydrogen sulfide. "The Bear Creek plant is not designed to process hydrogen sulfide," Helms told the Commission. "It's designed to process sweet Bakken gas." Helms said if the wells are going to continue to safely produce crude, the gas needs to be flared. "That's so that the hydrogen sulfide is burned, and doesn't represent a public health and safety hazard," Helms said. For more information visit prairiepublic.org or click http://bit.ly/2ieefpe 1 2 M O N T H C A N D L E S T I C K ( W E E K L Y ) 4.25 4.00 3.75 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 O C T O B E R 2 7, 2 0 1 7 Prompt Natural Gas (NG) Daily Sentiment BEARISH RESISTANCE 2.93 & 2.97 SUPPORT 2.85 & 2.82 Trading Summary NATURAL GAS Futures Close Change NG 2.890 (0.029) Volume 357,810 (230,936) Open Int. 1,358,866 8,066 CRUDE AND GASOLINE Futures Close Change Crude 52.64 0.46 RBOB 1.7506 0.0158 Crude/NG 17.25 0.32 METALS Futures Close Change Gold 1,266.30 EQUITIES Exchange Close Change DOW 23,400.86 71.40 S&P 500 2,560.40 3.25 CURRENCY Currency Close Change EUR/USD 1.1651 (0.0162) USD/CND 1.2910 0.0060 Contact Us Mansfield Energy Corp 1025 Airport Pkwy Gainesville, GA 30501 www.mansfield.energy info@mansfieldoil.com Phone: (800) 695-6626
O C T O B E R 2 7, 2 0 1 7 P H Y S I C A L S P O T N A T U R A L G A S P R I C E M A P Trade Date: Oct-26-2017 Flow Date(s): Oct-27-2017 2.68 0.02 2.98 (0.07) 2.69 2.83 2.85 0.03 (0.01) (0.10) 2.74 (0.01) 3.08 0.01 0.85 2.65 2.93 2.80 0.02 (0.02) (0.08) (0.03) 2.71 2.72 (0.22) (0.01) 0.00 2.65 0.00 0.00 3.17 (0.02) 2.54 1.29 4.51 (0.01) 2.80 0.07 0.34 (0.05) 3.12 (0.08) 2.70 2.79 0.05 (0.04) 2.81 (0.08) 2.53 0.00 (0.01) 0.00 2.82 2.72 (0.07) (0.07) 2.80 2.89 (0.09) (0.05) NYMEX 2.890 (0.029) DISCLAIMER: The content herein is privileged and confidential. Content is presented for informational purposes and is a reflection of the market opinions of its authors subject to change without notice. Content is derived from sources believed to be accurate at the time of release but carries no guarantee of accuracy or completeness. Mansfield Energy Corp and its clients may or may not take positions similar or opposite those discussed herein. The reader should realize that the trading of commodities involves risk, and the reader assumes all responsibility for the risk of financial losses. ID DAILY INDEX PRICE CHANGE ID DAILY INDEX PRICE CHANGE ID DAILY INDEX PRICE CHANGE 1 Stanfield 2.68 0.02 61 11 NGPL-Midcont Pool 2.65 (0.02) 31 21 REX E-ANR 2.80 (0.03) 76 2 Malin 2.74 (0.01) 63 12 Panhandle 2.65 0.00 32 22 Leidy-Transco 0.85 0.02 77 3 PG&E - Citygate 3.17 (0.02) 64 13 EP-Permian 2.53 (0.01) 21 23 Henry 2.89 (0.05) 11 4 Socal-Citygate 4.51 0.34 92 14 TGP-Z0 2.72 (0.07) 25 24 Transco-85 2.80 (0.09) 16 5 SoCal Border 3.12 (0.08) 91 15 Houston Ship Channel 0.00 0.00 24 25 Sonat-Z0 South 2.81 (0.08) 13 6 Waha 2.70 0.05 22 16 NGPL-TXOK 2.79 (0.04) 23 26 FGT-Z3 2.82 (0.07) 12 7 EP-SJ Blanco Pool 2.54 (0.01) 41 17 TETCO-M1 30 2.80 (0.05) 15 27 Dominion-South 1.29 0.07 81 8 Opal Plant Tailgate 2.72 (0.01) 51 18 Chicago Citygates 2.93 (0.08) 72 28 Transco-Z6 (non-ny) 0.00 0.00 82 9 NWP-Wyoming 2.69 0.03 52 19 Michcon 2.85 (0.10) 73 29 Transco-Z6 (NY) 2.71 (0.22) 83 10 Ventura 2.83 (0.01) 33 20 Iroquois (into) 2.98 (0.07) 71 30 Iroquois-Z2 3.08 0.01 74 Page 2
N A T U R A L G A S B A S I S F U T U R E S, H E N R Y H U B S P O T P R I C E S, A N D F O R W A R D C U R V E -0.1-0.2-0.3-0.4-0.5-0.6-0.7-0.8 0 Waha Basis (platts Iferc) 1 3.45 3.25 3.05 2.85 2.65 2.45 2.25 Month Strike Close Imp Vol Nov-17 2.800 Dec-17 2.950 0.194 52.5 Jan-18 3.100 0.249 48.7 Feb-18 2.800 Mar-18 3.150 0.311 48.7 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Month Strike Close Imp Vol Nov-17 2.800 Dec-17 2.950 0.118 37.5 Jan-18 3.100 0.196 39.4 Feb-18 Mar-18 3.150 0.320 39.4 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 O C T O B E R 2 7, 2 0 1 7 CME NG Option Prices ATM Call CME NG Option Prices ATM Put 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 2/1/2019 12/1/2019 10/1/2020 3/1/2021 8/1/2021 1/1/2022 6/1/2022 11/1/2022 4/1/2023 9/1/2023 2/1/2024 7/1/2024 12/1/2024 5/1/2025 10/1/2025 3/1/2026 1 1 1 12.000 10.000 8.000 6.000 4.000 2.000 0.000-2.000 0 Sumas Basis (platts Iferc) Michcon Basis (platts Iferc) -0.05 6.00 Transco Zone 6 Basis (platts Iferc) 5.00-0.1 4.00-0.15 3.00-0.2 2.00-0.25 1.00-0.3 0.00-0.35-1.00 Henry Hub Daily Spot Price 4.25 NYMEX Natural Gas Forward Curve 3.75 3.25 2.75 2.25 OCT 2017 SEP 2017 AUG 2017 1.75 1.200 1.000 0.800 0.600 0.400 0.200 0.000 Socal Basis (platts Iferc) 1 0-0.01-0.02-0.03-0.04-0.05-0.06-0.07 Transco Zone 4 Basis (platts Iferc) 1 Page 3
O C T O B E R 2 7, 2 0 1 7 W E E K L Y G A S I N U N D E R G R O U N D S T O R A G E W I T H 5 - Y R R A N G E Rig Count Report Date: October 20, 2017 Total Change US - 913 (15) CN - 202 (10) EIA Weekly NG Storage Actual and Surveys for October 13, 2017 Released October 19,2017 Release Date: October 26, 2017 T R O P I C A L S T O R M A C T I V I T Y A T L A N T I C PIRA +64 SMC +66 Reuters +63 EIA ACTUAL +64 Total Working Gas In Storage 3,710 BCF +64 BCF (LAST WEEK) (189) BCF (LAST YEAR) (46) BCF (5-YR AVG) Tropical Weather Outlook NWS National Hurricane Center Miami FL 200 PM EDT Thu Oct 26 2017 For the North Atlantic...Caribbean Sea and the Gulf of Mexico: 1. Disorganized cloudiness and thunderstorms over the western Caribbean Sea are associated with a trough of low pressure. Environmental conditions are expected to be conducive for some development on Friday and Saturday as the system moves slowly northward over the northwestern Caribbean Sea. Strong upper-level winds associated with an approaching cold front will make conditions less favorable by Sunday. Regardless of development, this system is expected to produce locally heavy rainfall over the Cayman Islands, Jamaica, and portions of Cuba during the next day or two. These rains are forecast to spread northward across portions of South Florida and the Keys on Saturday, and over the northwestern Bahamas Saturday night and Sunday. * Formation chance through 48 hours...low...30 percent. * Formation chance through 5 days...medium...40 percent. Forecaster Brown U.S. Natural Gas Supply Gas Week 10/12 10/19 Average daily values (BCF/D): Last Year (BCF/d) Dry Production +70.2 Total Supply +75.6 Last Week (BCF/d) Dry Production +72.4 Total Supply +78.4 [NEXT REPORT ON OCT 27] U.S. Natural Gas Demand Gas Week 10/12 10/19 Average daily values (BCF/D): Last Year (BCF/d) Power +24.3 Total Demand +65.6 Last Week (BCF/d) Power +28.7 Total Demand +70.4 [NEXT REPORT ON OCT 27] Page 4
O C T O B E R 2 7, 2 0 1 7 W E A T H E R H I G H / L O W T E M P E R A T U R E S A T U R D A Y HIGH Temperature LOW Temperature W E A T H E R H I G H / L O W T E M P E R A T U R E S U N D A Y HIGH Temperature LOW Temperature W E A T H E R H I G H / L O W T E M P E R A T U R E M O N D A Y HIGH Temperature LOW Temperature Page 5
O C T O B E R 2 7, 2 0 1 7 W E A T H E R 6 T O 1 0 D A Y O U T L O O K N O A A Temperature Precipitation W E A T H E R 8 T O 1 4 D A Y O U T L O O K N O A A Temperature Precipitation W E A T H E R 3 0 D A Y O U T L O O K N O A A Temperature Precipitation Page 6
1 12/1/2017 2/1/2018 6/1/2018 8/1/2018 10/1/2018 12/1/2018 2/1/2019 1 12/1/2017 2/1/2018 6/1/2018 8/1/2018 10/1/2018 12/1/2018 2/1/2019 O C T O B E R 2 7, 2 0 1 7 E T H A N E F U T U R E S, N G / E T H A N E R A T I O, P R O P A N E F U T U R E S, A N D T H E F R A C S P R E A D 0.35 0.33 0.31 0.29 0.27 0.25 0.23 0.21 0.19 0.17 0.15 Ethane Futures 1.70 Ethane / Natural Gas Ratio 1.60 1.50 1.40 1.30 1.20 1.10 1.00 0.90 0.80 CME Future Prices Ethane (C2) Non-LDH Mont Belvieu (cents/gallon) Nov-17 0.265 0.001 Dec-17 0.269 0.004 Jan-18 0.270 0.003 Feb-18 0.270 0.003 Mar-18 0.284 0.003 Apr-18 0.285 0.003 May-18 0.285 0.003 Jun-18 0.286 0.002 Jul-18 0.288 0.003 Aug-18 0.290 0.003 Sep-18 0.293 0.003 Oct-18 0.296 0.003 1.05 0.95 0.85 0.75 0.65 0.55 0.45 Propane Futures 5.50 5.00 4.50 4.00 3.50 3.00 2.50 2.00 Frac Spread 1YR Strip 0.282 0.003 CME Future Prices Propane (C3) Non-LDH Mont Belvieu (cents/gallon) Nov-17 0.938 0.000 Dec-17 0.976 0.005 Jan-18 0.973 0.005 Feb-18 0.958 0.005 Mar-18 0.935 0.007 Apr-18 0.840 0.008 May-18 0.763 0.007 Jun-18 0.737 0.007 Jul-18 0.730 0.006 Aug-18 0.729 0.005 Sep-18 0.732 0.005 Oct-18 0.738 0.006 1YR Strip 0.837 0.006 Page 7
12/1/2017 8/1/2018 12/1/2018 4/1/2019 8/1/2019 12/1/2019 4/1/2020 8/1/2020 12/1/2020 4/1/2021 8/1/2021 12/1/2021 4/1/2022 8/1/2022 12/1/2022 4/1/2023 8/1/2023 12/1/2017 10/1/2018 8/1/2019 6/1/2020 1 4/1/2021 9/1/2021 2/1/2022 7/1/2022 12/1/2022 5/1/2023 10/1/2023 3/1/2024 8/1/2024 1/1/2025 6/1/2025 11/1/2025 4/1/2026 12/1/2017 8/1/2018 12/1/2018 4/1/2019 8/1/2019 12/1/2019 4/1/2020 8/1/2020 12/1/2020 4/1/2021 8/1/2021 12/1/2021 4/1/2022 8/1/2022 12/1/2022 4/1/2023 8/1/2023 12/1/2023 4/1/2024 8/1/2024 O C T O B E R 2 7, 2 0 1 7 Prompt WTI (CL) Crude Daily Sentiment BULLISH RESISTANCE 53.03 & 53.42 SUPPORT 52.08 & 51.52 FOLLOW US ON TWITTER: NYMEX Brent (BZ) Futures @MPG_NatGasNews Dec-17 59.30 0.86 Jan-18 59.04 0.81 Feb-18 58.74 0.77 Mar-18 58.53 0.71 Apr-18 58.36 0.66 May-18 58.21 0.61 Jun-18 58.04 0.58 Jul-18 57.87 0.54 Aug-18 57.69 0.51 Sep-18 57.49 0.48 Oct-18 57.31 0.46 Nov-18 57.13 0.44 Dec-18 56.96 0.43 Jan-19 56.79 0.41 Feb-19 56.66 0.39 Mar-19 56.56 0.37 Apr-19 56.48 0.35 May-19 56.35 0.33 Jun-19 56.19 0.31 Jul-19 56.11 0.29 Aug-19 56.00 0.28 Sep-19 55.91 0.25 Oct-19 55.87 0.24 Nov-19 55.76 0.23 B R E N T C R U D E F O R W A R D C U R V E 65 60 55 50 45 40 W T I C R U D E F O R W A R D C U R V E 60 58 56 54 52 50 48 46 44 42 40 W T I B R E N T S P R E A D 0 (1) (2) (3) (4) (5) (6) FRAC Spread Specifications Ethane : 42% Propane: 28% Butane: 11% 66,500 btu/g 90,830 btu/g 102,916 btu/g Iso-Butane: 6% 98,935 btu/g Natural Gasoline: 13% 115,021 btu/g Prompt NGL Futures ($/gallon) Nov-17 Butane Iso-Butane Nat Gasoline Close Change 1.054 0.001 1.050 0.001 1.230 0.004 NYMEX WTI (CL) Futures Dec-17 52.64 0.46 Jan-18 52.86 0.43 Feb-18 53.00 0.41 Mar-18 53.10 0.39 Apr-18 53.15 0.37 May-18 53.13 0.35 Jun-18 53.06 0.34 Jul-18 52.93 0.32 Aug-18 52.78 0.31 Sep-18 52.63 0.30 Oct-18 52.47 0.28 Nov-18 52.32 0.26 Dec-18 52.18 0.24 Jan-19 52.00 0.23 Feb-19 51.83 0.21 Mar-19 51.67 0.19 Apr-19 51.53 0.18 May-19 51.39 0.16 Jun-19 51.29 0.14 Jul-19 51.16 0.13 Aug-19 51.06 0.12 Sep-19 50.98 0.12 Oct-19 50.92 0.11 Nov-19 50.86 0.10 1YR Strip 58.14 0.62 2017 59.30 0.86 5YR Strip 56.12 0.25 (7) 1YR Strip 52.84 0.35 2017 52.64 0.46 5YR Strip 50.94 0.10 Page 8