Is there hope for the gas industry? - GoMarcellusShale.com2024-03-29T11:23:59Zhttps://gomarcellusshale.com/forum/topics/is-there-hope-for-the-gas-industry?commentId=2274639%3AComment%3A888810&xg_source=activity&feed=yes&xn_auth=noRalph, how did your review o…tag:gomarcellusshale.com,2021-08-19:2274639:Comment:8908162021-08-19T01:03:53.147Zfarmgashttps://gomarcellusshale.com/profile/farmgas
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<p>Ralph, how did your review of CNX look to you? Anything positive to be encouraged about? What about some smaller companies like APEX Energy and Olympus in SW PA, will they continue to expand their holdings? They both seem to be growing in the Westmoreland County area.</p>
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<p>Ralph, how did your review of CNX look to you? Anything positive to be encouraged about? What about some smaller companies like APEX Energy and Olympus in SW PA, will they continue to expand their holdings? They both seem to be growing in the Westmoreland County area.</p> Looking at CNX a bit deeper .…tag:gomarcellusshale.com,2021-07-30:2274639:Comment:8897282021-07-30T01:01:23.653ZRalph cramdonhttps://gomarcellusshale.com/profile/Ralphcramdon
<p>Looking at CNX a bit deeper ... CNX had a very decent Free Cash flow qtr ...... </p>
<p>Looking at CNX a bit deeper ... CNX had a very decent Free Cash flow qtr ...... </p> PS I currently own EQT and AR…tag:gomarcellusshale.com,2021-07-30:2274639:Comment:8900382021-07-30T00:58:06.007ZRalph cramdonhttps://gomarcellusshale.com/profile/Ralphcramdon
<p>PS I currently own EQT and AR ... With a bias to sell EQT .... </p>
<p>PS I currently own EQT and AR ... With a bias to sell EQT .... </p> CNX had a lot of production h…tag:gomarcellusshale.com,2021-07-30:2274639:Comment:8897272021-07-30T00:56:55.450ZRalph cramdonhttps://gomarcellusshale.com/profile/Ralphcramdon
<p>CNX had a lot of production hedged , drilled some Marcellus , zippo Utica .. Unimpressed .. Differentials not too good either .....</p>
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<p>EQT got a butt whupping today on big losses due to hedging , also provided info on 2022 hedges , markets very unhappy with EQT .... </p>
<p> AR once you get past the headlines actually had a very decent qtr ... Outlook is favorable .. Free Cash flow in the 17 to 20% range ....... </p>
<p>CNX had a lot of production hedged , drilled some Marcellus , zippo Utica .. Unimpressed .. Differentials not too good either .....</p>
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<p>EQT got a butt whupping today on big losses due to hedging , also provided info on 2022 hedges , markets very unhappy with EQT .... </p>
<p> AR once you get past the headlines actually had a very decent qtr ... Outlook is favorable .. Free Cash flow in the 17 to 20% range ....... </p> CNX delivered their 2nd quart…tag:gomarcellusshale.com,2021-07-29:2274639:Comment:8900342021-07-29T17:27:27.558Zfarmgashttps://gomarcellusshale.com/profile/farmgas
<p>CNX delivered their 2nd quarter report today. Basically all financial information and not much information for landowners or lease holders. Very little information about their operations. Do analyst prefer this type of report over ones with maps, graphs and statistics for their operations?</p>
<p>CNX delivered their 2nd quarter report today. Basically all financial information and not much information for landowners or lease holders. Very little information about their operations. Do analyst prefer this type of report over ones with maps, graphs and statistics for their operations?</p> You are correct Farmgas ... i…tag:gomarcellusshale.com,2021-07-29:2274639:Comment:8897242021-07-29T01:05:52.779ZRalph cramdonhttps://gomarcellusshale.com/profile/Ralphcramdon
<p>You are correct Farmgas ... in a environment of lowering gas prices hedges may be very helpful to profits , conversely ,, rising gas prices may hurt profits if the spot price goes above the hedged price ... NGL is harder to hedge , and usually not fully hedged ... banks may require hedges to help support income for repayment of loans ... This qtr will be less than stellar due to many outfits hedgings well below today's price ....</p>
<p> Many analyst believe CNX does have a limited future…</p>
<p>You are correct Farmgas ... in a environment of lowering gas prices hedges may be very helpful to profits , conversely ,, rising gas prices may hurt profits if the spot price goes above the hedged price ... NGL is harder to hedge , and usually not fully hedged ... banks may require hedges to help support income for repayment of loans ... This qtr will be less than stellar due to many outfits hedgings well below today's price ....</p>
<p> Many analyst believe CNX does have a limited future drilling sites vs others ,, same goes for COG ..... </p>
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<p>Look for Free Cash Flow .... The higher the percent to Market Cap the better ........ </p> Ralph: Is hedged gas good or…tag:gomarcellusshale.com,2021-07-28:2274639:Comment:8900292021-07-28T21:46:22.298Zfarmgashttps://gomarcellusshale.com/profile/farmgas
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<p>Ralph: Is hedged gas good or bad for a gas company? Seems it locks them into a pricing which may help them during lower gas price environments but prevents them from taking advantage of surging market prices. </p>
<p>Looking at a CNX quarterly report from 2 years ago they say they 15 years of Marcellus well growth in SWPA and 25 years in CPA South. The SWPA wells would be Tier 1 and the CPA wells, I think, would be Tier 2. Are you hearing these numbers might not be accurate? </p>
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<p>Ralph: Is hedged gas good or bad for a gas company? Seems it locks them into a pricing which may help them during lower gas price environments but prevents them from taking advantage of surging market prices. </p>
<p>Looking at a CNX quarterly report from 2 years ago they say they 15 years of Marcellus well growth in SWPA and 25 years in CPA South. The SWPA wells would be Tier 1 and the CPA wells, I think, would be Tier 2. Are you hearing these numbers might not be accurate? </p> RRC blew it big time when the…tag:gomarcellusshale.com,2021-07-28:2274639:Comment:8897222021-07-28T14:35:51.166ZRalph cramdonhttps://gomarcellusshale.com/profile/Ralphcramdon
<p>RRC blew it big time when they payed way too much from Memorial 's 'deep pink ' in LA .... Deep Pink turned out to be very limited in size , RRC took on huge debt .. and recently sold it of for pennies on the dollar .... To this day , I am surprised RRC management remains in place , as they nearly destroyed the company .......... </p>
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<p>They will all use up their tier 1 lands first , then return to many of these pads to drill deeper ... There will be substantial saving as the…</p>
<p>RRC blew it big time when they payed way too much from Memorial 's 'deep pink ' in LA .... Deep Pink turned out to be very limited in size , RRC took on huge debt .. and recently sold it of for pennies on the dollar .... To this day , I am surprised RRC management remains in place , as they nearly destroyed the company .......... </p>
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<p>They will all use up their tier 1 lands first , then return to many of these pads to drill deeper ... There will be substantial saving as the gathering pipes will be already in place ... Devonian and Utica then will be the targets ..... </p>
<p> Sold off my modest RRC holdings , yesterday early , including pre market ..... I was unimpressed with results considering high NGL prices and better N gas prices as well ..... </p>
<p> Still hold a couple of other Marcellus players .... Hoping for the best ... </p>
<p> AR has been reporting getting $50 / barrel for their liquids the last few weeks ... AR reported they got $40 for liquids qtr #2 ...... AR hedges will hold back gas profits ... EQT less hedged ..... CNX fully hedged .... SWN , I don't really follow .... NFG not enough beta .... CHK is really interesting here , COG in the doldrums </p> Thanks Ralph for your insigh…tag:gomarcellusshale.com,2021-07-28:2274639:Comment:8899192021-07-28T13:13:23.789Zfarmgashttps://gomarcellusshale.com/profile/farmgas
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<p>Thanks Ralph for your insightful comments. I read the RRC 2Q report yesterday and like so many other gas company reports it was less then informative. The best one in my view is Seneca Resources which still details their drilling plans and overall system. CNX just provides a financial report now. It will be interesting to read their report tomorrow. In the RRC report on page 18 they discuss their core inventory vs peers core inventory. They tout theirs to be greater then their…</p>
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<p>Thanks Ralph for your insightful comments. I read the RRC 2Q report yesterday and like so many other gas company reports it was less then informative. The best one in my view is Seneca Resources which still details their drilling plans and overall system. CNX just provides a financial report now. It will be interesting to read their report tomorrow. In the RRC report on page 18 they discuss their core inventory vs peers core inventory. They tout theirs to be greater then their peers. You mention CNX tier 1 Marcellus well sites to be be less then 10 years. That`s not too far off. Is this why they champion their Utica potential so much? They have Marcellus potential in their CPA region which is not being developed. NFG seems to be OK with lower Utica potential then does RRC, EQT or CNX. On page 27 of the RRC report they discussed how future stacked pay will drive their production. Are other gas companies planning the same?</p>
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<p></p> COG has encouraged power plan…tag:gomarcellusshale.com,2021-07-28:2274639:Comment:8897212021-07-28T12:36:48.237ZRalph cramdonhttps://gomarcellusshale.com/profile/Ralphcramdon
<p>COG has encouraged power plant deals in its region ..... Gas companies I would think would be reluctant to actually own power plants , as it takes away its focus on drilling ......... NFG has been under pressure over the years to sell its consumer gas distribution business and focus on drilling ... CNX separated its coal operation a few years back ,.. EQT also sold its gas distribution system a few years ago .....</p>
<p>COG has encouraged power plant deals in its region ..... Gas companies I would think would be reluctant to actually own power plants , as it takes away its focus on drilling ......... NFG has been under pressure over the years to sell its consumer gas distribution business and focus on drilling ... CNX separated its coal operation a few years back ,.. EQT also sold its gas distribution system a few years ago .....</p>