How will the very recent decline in oil and gas prices, along with greater fears of a recession, impact the development of the utica in Ohio? Will leasing activity be "put on hold" or will signing bonuses likely go down?
In 2008, all the company withdrew their offers. Part of it was due to a crash in prices, partly because the companies could no longer get financing.
This situation doesn't look to be as bad....yet. Doubt if it will get there but one never knows for sure.
One good thing about all the local players be bought up....Atlas.....Phillips...East....is that the majors that bought them have huge cash reserves. Plus, since they invested so much in the buyouts, they have an incentive to proceed.
Cheap money for at least two more years doesn't hurt.
Wouldn't be surprised if prices go down. Smaller companies are going to have a tough time getting financed, and the larger companies react to the markets. Less competition, less money being thrown around. Exactly what happened 2008.
I don't think much at all, if any. Then I just read this article in the WSJ about hiring in the industry.
If your not a WSJ subscriber, you can see more of the article here;