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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Replies to This Discussion
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Permalink Reply by Ralph cramdon on
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Great Christmas with our Kids and others . Hope yours was good as well .. Our N Gas provider here on LI sent out urgent text messages yesterday to reduce home heating temps due to LOW gas supplies ... What a JOKE ... All the N Gas ever needed by LI sits just a few hundred miles away .... 8 years from now they want us to switch to electric heat pumps ... Do heat pumps keep you warm when its 5 degrees outside with Gale Force winds ???
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Paleface , they are building windmills offshore of Long Beach NY . I guess nobody told them Wind power is only available 50% of the time .. Ever drive by NYC at night , the lights are impressive .. I often wonder on those 95 degree ,windless summer days , how the tri state area would make out .... NY has banned any new gas hookups in 2027 , does that ban include stand by generators , Genrac's ? The discussion of moving our Businesses out of NY is increasing ..
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Permalink Reply by paleface on
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I think Elon wants to get out of the business it can't work without the Govt. paying for it . New York city uses an enormous amount of natural gas to make electricity,heat,steam and electric the media doesn't talk about that.This was a boutique,nich energy it doesn't work in the real world.
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Good point about the Steam heat to all those NYC skyscrapers .
Mostly out of N Gas as of now , the producers keep increasing production , hence driving down spot prices ... Own a couple of pipeliners , light on producers
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Gas now at $4.46 ... Propane storage 17 % ABOVE 5 year average .....
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It was a fun ride while it lasted...
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Profits in producers are being destroyed .. Producers increasing production , warm weather , here and in Europe , and LNG export plant down are all contributing factors ... First time in over 20 plus years , 90% into T Bills and OUT of Energy . 1year yield close to 4.7% Landowners Royalty checks will but cut drastically .. Hope they bought their tractors and fixed up their homes before this downdraft .... The Old saying holds true ... Whats the cure for high prices ? Answer ' High Prices "
Visiting SW Fla .. eggs in Supermarket today priced over $6 .... Soon every Chicken Farmer will expanding his flock and prices will crash once again ....
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Permalink Reply by farmgas on
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Ralph, are you suggesting gas companies need to increase production to off-set lower gas prices? Wouldn`t that be good for further development & drilling? Will the natural gas industry be exposed to buy-outs and consolidations in 2023? If so, who are the lightly candidates?
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I am not suggesting more production .. Just the opposite , restraint of production is needed ... At $9 gas , every old gas well is reopened , every dollar private produccers have gets reinvested .. hence increasing production .. Who is my #1 pick to merge ? CNX .. Although anything is possible ...
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Things will be tight going forward .. N gas near $3.55 this morning , breakevens for many in the low $3's ... Now add INFLATION to drill a well and lay down pipe .. Where is the 'new' breakeven now ?
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