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 August 19, 2023 at 5:56am

Seneca has the advantage of Fee Acreage without needing to pay royalties.  How about having dinner with a geologist working in western & central PA.:)

What does the industry think will promote a renewal of the market?  Will there be a need for new wells to replace depleted wells, increase market demand for LNG, growing domestic market or some other reason.  What will gas companies look like in response to a new surge? Consolidation, etc...

Permalink Reply by Ralph cramdon on August 19, 2023 at 11:32am

How about having dinner with a geologist working in western & central PA.:).. FUNNY .  I have that Geologist in the Hamptons right now and he thinks its way too crowded for him , but he does like the food . NFG FEE lands are west of Tioga . , I think ? Sooner or later tier 1 lands will be played out , and the drift will be #2 lands . Not really sure how competitive those N Tioga Utica wells are right now , but sometime in the future that gas will be making Folks happy too . I like gas , but this Economy has made me cautious and I continue to seek safety , as China and Germany continue to show weakness . Current CD rate as high as 5.6% , current short term T bill 5.45 % ... Did buy a pipeliner this week . 

Permalink Reply by Ralph cramdon on August 21, 2023 at 3:08am

Aussie LNG on strike , Euro gas prices stronger 

Permalink Reply by farmgas on August 21, 2023 at 2:21pm

Does Europe store gas in the ground or on LNG vessels?  Is their injection season similar to the USA?

Permalink Reply by Ralph cramdon on August 22, 2023 at 2:08am

Euro stores gas underground . Euro gas is up strongly again this morning . Still 75% in Bonds .. Dislike this economy , interest rates will be hurtful . N Gas production yesterday at 104BCF/D ,, BEARISH . Dont know what the record is but its got to be getting close . 

Permalink Reply by paleface on August 23, 2023 at 3:16am

With all the wells that are being shut in and the little bit of drilling you wonder how production could be so high.

Permalink Reply by Ralph cramdon on August 23, 2023 at 11:58am

Paleface ,they are probably shutting in the low producers that are not too profitable in the $2.50 range .. Gas is coming from the Permian , they keep drilling [for now] , new wells as the older wells just keep on producing . Those new wells are anywhere from 20 to 65% gas 

Permalink Reply by farmgas on August 24, 2023 at 3:08am

How is natural gas production determined daily?  Do gas companies report this information daily to a government agency?  Here in PA the DEP reports on a monthly basis well production provided by gas companies.  This information covers well production two months earlier.

Permalink Reply by Ralph cramdon on August 24, 2023 at 2:23pm

Energy Dept prints a weekly report . I have access to daily reports , how is it generated on a daily basis ? I never bothered to figure that out . PS. that 105 BCF / D has been readjusted to 103 BCF 

Permalink Reply by paleface on August 25, 2023 at 2:59am

Ralph is that Bidens energy Dept ?

Permalink Reply by Ralph cramdon on August 25, 2023 at 3:50am

LOL 

Permalink Reply by Ralph cramdon on August 25, 2023 at 3:54am

Chairman Powell just said interest rates might need to go higher , continue to sell remaining stocks/stock and convert into T bills ... Probably first time ever .not 100% into Energy stocks .. Buyers vs Sellers , that is what makes the markets churn .

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