Pennsylvania’s unconventional natural gas production grew at pre-pandemic rates through the first nine months of the year as prices and demand rebounded, according to the state’s Independent Fiscal Office (IFO).
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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Pennsylvania Natural Gas Production Continues Growing at Pre-Pandemic Levels
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Farmgas , thank you as well ... many of us here in the 'Suburbs' dream of living on 60 acres and being somewhat self sufficient ........ I know its not all 'rosy' out in the Heartland of America , but the American Dream of 'Forty acres and a mule ' lives on ......
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Deb , seems like there was a lot of excitement in your area several years ago .... Best of luck , ..
PS . Never stop learning , as a Full Time Energy Investor , I am reminded everyday how little I actually know and how little I actually have control of .... Regards .....
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Permalink Reply by william Allen. Ladd on
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Well Ralph, How do you think I felt as I read all of those early postings blasting me? Time and time again You were so angry about the fact that I lived in Pennsylvania and received a few dollars from the gas industry. I only have about 15 acres from which I receive royalties. The pipeline ROW, (across my land). plans were not known by me until I discovered a crew was laying it out. I was kept in the dark because someone thought that my property would soon be going up for taxes. And they could gobble it up. That did not happen however! You finally woke up to realize that I indeed was not pulling all of the gas and oil strings to my benefit. You have learned a lesson as per your words to Deb, ("I am reminded everyday how little I actually have control of... Regards ......)" Granddad Ladd
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Sorry for your continued anger Mr Ladd ... ...... Why would I be angry that you received Royalties ??????? There is a whole lot more to life than being angry day after day ...... Merry Christmas ........
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Permalink Reply by farmgas on
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So how will gas companies approach price hedging in the future? Will it continue for a significant portion of their production or just a limited portion to allow for potential rising prices? Or is hedging desirable for a steady as you go approach? Is risk taking a thing of the past now?
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Many outfits are REQUIRED to hedge production by the Banks that lend them $$$$$ ... The higher the debt ratio the higher amount of production hedged ....
Others like CNX hedge to protect their Free Cash Flow yields ,, the problem with that situation is that it fails to inspire Investors as outfits like CNX become more like an annuity and less like a outfit with a high Beta , or one with a chance for a higher reward ...
If I ran a Gasser would I hedge at $4 ?? You betcha I would ,,,,,, Unfortunately for outfits like EQT they have been highly hedged during this run up to $6 gas and missed out on great profits ..... When their hedges do finally expire its likely that production will keep increasing and gas drifts lower , possibly below $3 .......... thus EQT might fully miss out on that $6 gas bull run ...
CHK had some interesting news today ,, they might be worth a looksie ......AR is down 22% from its recent highs ... I still am out of 'gas'
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Back in June, MDN told you about a long-running lawsuit in Tioga County, PA by landowners who claim that UGI has taken their mineral rights as part of operating the Meeker Storage Field, an underground natural gas storage facility (see Tioga County Landowners Appeal UGI Takings Case to PA Supremes). The landowners lost the lawsuit in the Court of Common Pleas of Tioga County (trial court) in March 2019. The landowners appealed to Commonwealth Court and lost there too, in November 2020. The landowners appealed again, to the Pennsylvania Supreme Court. On Monday, Nov. 29, the Supremes ruled in favor of the landowners. It pays to be persistent!
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Due to ever increasing production and warm weather , N Gas prices are crashing
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Permalink Reply by farmgas on
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Gas prices seem to be on the rise again. Is this roller coaster ride going to be primarily driven by weather conditions? The quantity of DUC wells must be getting closer to an end soon? When will gas companies begin drilling again?
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Public / Listed Companies claim to be flat on drilling [ 0 increase ] .. Private outfits are going full speed ahead ..... $4 gas today is surprising many considering the dramatic increase in US Gas Inventory numbers .... This warm weather is also a contributing factor .. I like the gas sector , but finding it hard to get excited as an Investor on the short term fundamentals ...
Farmgas you live in Farm Country ...
What did the wise ol Farmer say ?
" What the cure for high prices ? .. High Prices ...
"Whats the cure for low prices ? ... Low Prices ...
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Permalink Reply by farmgas on
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I have seen from a PA DEP e-facts website evidence to support what you are saying about public vs. private gas company drilling plans. Many more private permits are being approved each week particularly in Western PA. What is the hold back by public companies? Are they just surviving off DUC wells which surely must be coming to an end soon? Which group of gas companies represent the future of the gas industry?
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