Curious and Looking For Experiences With Shut Ins

In this depressed industry environment and rumors of unexplained shut ins around, I was curious about those who have experienced shut in activity (or I guess INactivity) on their producing units such as the process, duration, causes, communication (if any), and any other information. I thought I'd kept up on all of the important factors regarding being a land owner working with a producing gas company but somehow overlooked the entire possibility of being shut in. I suppose, at the time, the idea wasn't even a factor in mind, with the natural gas industry booming before politics and environmentalists put the stress on operations blocking transmission lines and adding regulations and costs that created an over-supply, de-valuing the commodity within our region. Now, it appears that the possibility - and even probability - of being shut in has been brought to the forefront and I'd like to get some information and education on it besides the obvious "no royalty payments". Thanks to all and hope that everyone will survive this slump.

Lori

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Permalink Reply by Lori Huber on February 28, 2020 at 2:25pm

I hadn't heard that. That's great. I know they were selling (or sold) their midstream company (Equitrans) and have been doing everything they can to reduce operating costs and increase revenue. That sounds like a positive move.

Permalink Reply by Dan on February 28, 2020 at 3:03pm

Although their stock price is no where near what it was the price went up a hefty % today when everyone else’s dropped with the new lower NG futures price.  

back to Covid 19,  where have you seen news of panic other than the stock market?  I haven’t heard this anywhere.  Investors make moves based on current knowledge.  The unknowns about Covid 19 have them spooked.  You are correct that yearly common flu sickens and kills an extraordinary amount of people and we are very unconcerned.  Measles is ridiculously contagious with little public concern last summer when it appeared.  If not Covid 19 eventually a virus will sweep thru effecting a large swath of the world. It’s a matter of when not if.  Hopefully Covid 19 is not that virus but we should still do what is possible to contain and mitigate its spread.   Worst case experts say it could hit 1/3 of the world population with 80% suffering no symptoms to symptoms of the common cold flu, headaches to severe illness.  Of those that get sick 2% have died.  Even if our Pretty good health care system cuts that to 1/2%, when one person gets sick they are transmitting it to 2 to 3 others and so on.  Of coarse the same way to prevent spread is the same steps that we don’t follow to prevent the flu.  If this virus doesn’t weaken soon it will be devastating. Like it or not the supply chains are already disrupted and the effect on energy is already here.  It won’t last forever.

Permalink Reply by BW_Appalachia on February 28, 2020 at 2:31pm
This agreement is with Equitrans, so probably less of an indicator for the rest of the Basin. Deal included a large WV acreage dedication, so sounds like good news for landowners there.

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