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8-K - 2011-0228 USNG FORM 8K - United States Natural Gas Fund, LPusng8k_2011-0228.htm
   
Exhibit 99.1
 
United States Natural Gas Fund, LP
     
Monthly Account Statement
     
For the Month Ended January 31, 2011
     
       
       
Statement of Income (Loss)
     
       
Income
     
Realized Trading Gain (Loss) on Futures
  $ 129,073,435  
Realized Trading Gain (Loss) on Swaps
    38,728,690  
Unrealized Gain (Loss) on Market Value of Futures
    (104,374,345 )
Unrealized Gain (Loss) on Market Value of Swaps
    (39,011,126 )
Dividend Income
    53,283  
Interest Income
    35,165  
ETF Transaction Fees
    22,000  
        Total Income (Loss)
  $ 24,527,102  
         
Expenses
       
Investment Advisory Fee
  $ 1,147,456  
Brokerage Commissions
    472,892  
Tax Reporting Fees
    217,974  
NYMEX License Fee
    51,868  
Legal Fees
    48,640  
Prepaid Insurance Expense
    42,407  
Non-interested Directors' Fees and Expenses
    14,953  
Audit Fees
    13,589  
SEC & FINRA Registration Expense
    9,610  
          Total Expenses
  $ 2,019,389  
            Net Gain (Loss)
  $ 22,507,713  
         
         
Statement of Changes in Net Asset Value
       
         
         
Net Asset Value Beginning of Period 1/1/11
  $ 2,667,356,837  
Additions (23,900,000 Units)
    142,574,586  
Withdrawals (76,500,000 Units)
    (482,538,447 )
Net Gain (Loss)
    22,507,713  
         
         Net Asset Value End of Period
  $ 2,349,900,689  
          Net Asset Value Per Unit (392,000,000 Units)
  $ 5.99  
         
         
         
To the Limited Partners of United States Natural Gas Fund, LP:
     
         
Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that,
 
to the best of his knowledge and belief, the information contained in the Account Statement for
 
the month ended January 31, 2011 is accurate and complete.
       
         
         
/s/ Howard Mah
       
         
Howard Mah
       
Chief Financial Officer
       
United States Commodity Funds LLC, General Partner of United States Natural Gas Fund, LP
 
         
United States Commodity Funds LLC
       
1320 Harbor Bay Parkway
       
Suite 145
       
Alameda, CA 94502