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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Wrong , wrong , wrong ..DAN .... America NEEDS HEAFVY OIL ... Many refineries are designed only for heavy oil , and with Venezuela production dropping like a ton of bricks , US gasoline need MORE Heavy Canadian oil .... Biden passes his infrastructure bill and even MORE heavy oil will be needed for Asphalt.....
Sorry you are wrong again the Diluents needed for transport come from CANADA , mostly the Monterey in Canada .....AR Liquids go 50% overseas and 50% to Fractionation right here in the US .....Same with Range .... NE PA Gas production is 99% METHANE , with zippo liquids .....
Dan , you better read up on Energy before you invest your hard earned money in this sector ........
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Permalink Reply by Dan on
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Yes we need asphalt but 1/2 the worlds resin is now GONE. We need pellets and resin. Can’t drive on that new road without a car. Until new cracker plants go online only basic fractionation is happening local. Go to Sherwin Williams and try to buy a can of semi-gloss paint and see what they tell you. Gulfport had a large interest in Grizzly in the tar sands. For years folks were robbed of price for their condensates. Do you really think the train cars were empty going north. Yea, it’s hard to walk down that new road without a pair of shoes too.
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Dan , you seem to be rambling ... Whats your point ???
You mentioned Gulfport ,, lesser quality OH grounds helped drive Gulfport under ....
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Permalink Reply by william Allen. Ladd on
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Hey Ralph, What is 'HEAFVY OIL?"
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Permalink Reply by farmgas on
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Will gas companies need to finance & build their own pipelines to interconnect with more prominent ones going into the future? I don`t mean pipelines reaching hundreds of miles but rather say 10-20 miles. How about 2 or more gas companies joining together to finance a pipeline?
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PA stills seems somewhat pipeline friendly , the problem for the Scranton Area productions.is the surrounding NE Staes of NY / NJ seem to reject just about every new pipe proposal ... They eventually want to ban gas altogether ..... Lofty Dreams .....
Takeaway is secondary issue as of today .. Investors / banks want to finally see profits .. The current trend is to spend roughly 50% of its income to maintain production and use to other 50% to pay down debt , buyback shares and eventually pay a dividend ... DVN [ Texas producer ] just announced a whopping 7.6% dividend ..... That will draw plenty of attention to its stock in the next few days ... Eventually AR , EQT , RRC and others will pay a dividend as well .... PS , most need gas priced at $2.30 or better to start to see a profit .... COG was the most profitable , we will see how things work out after the merger ....
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Permalink Reply by william Allen. Ladd on
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Some one is messing with my replies on this site. And they need to stop! Granddad Ladd
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Short local pipes are not the issue .. The question for N PA producers is where to connect those short laterals to ???? The Major Pipes in Bradford area are all booked ... CHK , COG and other are forced to restrain for increasing production due to lack of shipping options .... It will be status quo for the foreseeable future
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New nat Gas to Gasoline plant coming to Nanticoke PA
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Paleface , I have been reading your on the ground reports for years ,,, If I remember correctly you broke a lot of news as Shell was entering Tioga County .... I always looked forward to your breking news ... Thanks
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Permalink Reply by william Allen. Ladd on
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Oh, I guess you mean HEAVY OIL. I have not heard anyone use that way of spelling before. OK! It appears that the price quoted for gas is leveling out in the $5.50 range. This Covid scare sure has had a terrible effect on just about facet of life and economy. Its going to take a long time for folks to adjust to the constantly changing conditions they have to deal with. But such is life! Granddad Ladd
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