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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The current demise of bitcoin is dragging down the Market , rising interest rates might even be a bigger contributor.........
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I see that Farmgas has posted , yet I do not see his post ....
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Permalink Reply by farmgas on
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Check page 32 for a reply to Spike`s Kin.
Ralph, will a new LNG plant be built near Philadelphia. If so, that should be great news for a PA gas market? Are gas company lobbyist fighting for it? Seems to me they should be.
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New LNG in Philly ??? A lot of unanswered questions ... First ,a Mountain of Permits , both Local and Federal .. Also a Mountain of financing , probably debt and an IPO , the plant also needs a commitment from Foreign Buyers ...... Tons of hurdles. and years away from completion ..... I would guess anywhere from 5 to 10 years away , IF approved ... Would the Marcellus Producers benefit ? YES !!!
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Permalink Reply by farmgas on
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How appropriate is it for gas companies to invest in a project like this LNG facility? I mean financial investment plus commitment to supply NG. Investment even for infrastructure. Just seems to me the gas companies should be sitting at the table. Am I wrong?
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Producers probably would commit dedicated production to the proposed facility , but these plants cost Billions ... I doubt producer shareholders would tolerate additional debt on their books to finance a LNG plant
A bit more likely would be that the LNG outfit would buy N Gas production for their needs ....
TELLERUDE is a emerging LNG operator whose journey can be found on the financial pages
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Been Awfully Chilly here in NY a couple of nights , not good for gas Bulls ....
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Permalink Reply by farmgas on
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Long ago I stopped being a weather watcher for hope of increasing NG prices. Its very frustrating to follow the weather although it really is all about the weather.
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Gas producer share prices have been down in some cases over 30% in a week ..... I remain on the sidelines except for a couple of pipelines ....... Gas in the $6 range is still very profitable for producers , but storage is filling faster now than it was a few weeks ago ... A very fluid time in the Energy Patch ......... Many dark clouds on the horizon for this economy ..... and for Investors .......
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Permalink Reply by farmgas on
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Marcellus Drilling News today is reporting that massive investments are coming to the energy industry. How many of these investments are known and where are they located? If known what are they?
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Looks to me as a very misleading Headline ....Currently very little extra pipeline capacity in the Marcellus to move additional gas ,, Permian oil does have a bit more capacity to move product .. Any additional growth will come mostly from Private producers , as ESG , Wokeness is forcing the likes of Harvard Endowments and a host of others to restrain from investing in Oil/ Gas outfits ....... How Ironic just a year or so ago , leadership in Washington was threatening US Oil Exec's with Jail , are now begging the Arabs for more oil ...... Washingtons Oil / Gas policies are confusing at best and outright dangerous in many respects ..... As I drive by NYC at night sometimes , I shake my head in wonderment on how NY Politicians believe they can POWER all those massive Buildings via Windmills .. As I type this there is Zippo Wind here on Long Island ..... We are all crew members on the Ship of fools ....
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Camera's showed yesterday French Pres Macron whispering to Pres Biden that OPEC is out of spare capacity ... Oil Futures have shown some positivity ....
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