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 farmgas on June 21, 2024 at 10:35am

Sure sounds like Pennsylvania might soon see more drilling.  This heat has to be having a surge in demand for electricity and drawing from the gas reserves.  I think Paleface & Ralph might be onto our future. 

Permalink Reply by farmgas on July 30, 2024 at 1:58am

How does the big picture look like now?  Are we poised for higher prices?

Permalink Reply by paleface on August 18, 2024 at 2:38am

The gas company's are taking as little gas as possible just to meet contracts. They're taking a big hit also.

Permalink Reply by farmgas on August 18, 2024 at 10:16am

I have noticed gas companies in the western portion of PA are plugging wells for now with completion planned for 2025.  Is this a common method?  Is it financially feasible then to continue drilling wells now and plugging them for completion next year?  Does a well deteriorate without going through the fracking step soon after drilling?

Permalink Reply by paleface on August 20, 2024 at 7:25am

They might be drilling to hold the lease.

Permalink Reply by farmgas on August 20, 2024 at 7:44am

Many of the pads will have multiple wells plugged this year.  I have seen EQT, Olympus Energy & CNX doing this.  Could this be a sign that they will complete them next year anticipating prices to increase?

Permalink Reply by paleface on August 21, 2024 at 1:18am

Are those wells in production ?

Permalink Reply by farmgas on August 21, 2024 at 1:22am

No, I guess they would be called DUC wells.

Permalink Reply by paleface on August 22, 2024 at 1:00am

There were several wells that were drilled just to keep the lease not a lot of research done on them just a vertical those are predominantly the ones being plugged.

Permalink Reply by paleface on August 27, 2024 at 1:30am

Ralph, hang in there this is all going to turn around the industry is preparing for it.

Permalink Reply by farmgas on August 27, 2024 at 1:38am

Paleface:   Could you explain how the industry is going to turn around?

Permalink Reply by paleface on August 27, 2024 at 2:31am

infrastructure expenditure's there getting ready to pass go.

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