Surging Natural Gas Prices

How are the surging natural gas prices affecting drilling this year, and what about going into 2022?  Are the gas companies taking advantage of these higher prices?  What`s next?

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Permalink Reply by Ralph cramdon on February 23, 2022 at 1:18pm

Farmgas , RRC had a 13% bump today ,,, very good qtr report ... CHK dividend now 10% ... A very big deal ....... Old COG , now ctra also had a very good qtr ... Great time for gassers , lets see how long it lasts 

Permalink Reply by Deb Reynolds on February 21, 2022 at 2:35am

I was out driving on Saturday and went past the Crittenden well on 249 just outside Keeneyville, PA and saw they have a 3-stack rig up, drilling. Any info on that? I'm in Charleston twp. (home) below Wellsboro, and hoping to one day see something here--it's on every side. Pipelines within a couple of miles. 

Permalink Reply by paleface on February 23, 2022 at 2:28am

Deb Reynolds,keep your eye on landex to see where there leasing,that would be an indicator of where they plan to drill.They look busy leasing in Delmar lately. Memorandums are leases.

Permalink Reply by Deb Reynolds on February 23, 2022 at 4:05pm

thanks! I am not familiar with that, can I just google it? My folks are in Delmar, less than a mile from a working well/pipeline. 

Permalink Reply by paleface on February 24, 2022 at 3:13am

Yes google it get signed up its free unless you buy a document.

Permalink Reply by Ralph cramdon on February 25, 2022 at 7:04am

CHK now has a price target of $100 ...  Bank of America 

Permalink Reply by farmgas on February 25, 2022 at 10:07am

Is it safe to say, the quicker gas companies become healthy or financially strong again the sooner drilling will come back?  Is there a pecking order for the most healthy & strongest gas companies in the Appalachian basin? 

How is the Ukraine situation affecting the energy market?  Will  LNG demand grow now? 

Permalink Reply by Ralph cramdon on February 25, 2022 at 12:10pm

Growing LNG takes years of approvals and build outs ... There are a few underway which might add a few extra B's of export .. 

 Permian Basin is the spot where gas production is growing , as good oil wells have pressurized gas to help the oil get up the drill hole ... Delaware basin has a good amount of gas and frankly the oil drillers don;t really care what the gas price is as they want the more profitable oil ... Although gas at $4.5 is profitable too .... The Public Appalachian drillers are being very disciplined and holding production flat .... They are oozing $$$ , repairing Balance Sheets and buying back shares ....... RRC , AR , CHK have had a very decent few weeks ..... CTRA has been realitively quite .... with a decent dividend .....

Permalink Reply by Ralph cramdon on February 25, 2022 at 12:12pm

KNTK caught my attention ... it was very soft in the early week and has since found some footing ... A very  decent 9.5% dividend yield , with Blackrock the majority owner ....

Permalink Reply by farmgas on February 25, 2022 at 12:43pm

I just read the latest RRC quarterly report.   What an impressive report clearly created to impress investors of their status in the Appalachian Basin with regard to potential & future plans for growth.  They are not holding back their success story, and want investors to be comfortable with their plans & vision for growing.  In NE PA they are planning to drill more wells this year.  This report will provide a great deal of information & insights for the gas industry in general here in PA.

Permalink Reply by Deb Reynolds on February 25, 2022 at 11:43am

thanks so much, paleface!

Permalink Reply by Ralph cramdon on February 27, 2022 at 1:45am

Yes Farmgas , the outlook for RRC is pretty darn good ... Though it is totally dependent on the next headline ... Weather Warm , weather cold , increasing production , not enough wind , pipeline issues , etc , etc ... 

 

I am holding a decent position of RRC , but watch carefully for possible issues ..... Weather is a factor and the increasing production from the Permian is to be watched also ....RRC , AR , CHK have very competitive grounds and  good inventory .... Same can be said for EQT ..... CNX also is a good player though you know my take on CNX ... NFG decent outfit with very little Beta ......After all these years of drilling , NFG production lags their peers ....

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