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
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1Q reports are beginning this week. CNX & EQT today. Anything new or exciting to mention?
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Permalink Reply by Ralph cramdon on
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Did a little digging into some stats .. EQT vs AR vs RRC ... EQT seems to have outshined the others .. Other than some Pipeliners , [ fool for a dividend ] , I am sitting on the sidelines .. 5% T Bills are in fashion in this portfolio... Housing beginning to weaken , car repo's are up , banks are making headlines , layoffs announced daily .... This might take some time to play out .......
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These producers keep relying on future LNG to bail them out of these low prices .... Once these LNG plants come online history shows us these same producers will ramp up production once again ..
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Permalink Reply by farmgas on
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Is everyone beginning to get a positive impression of the local gas industry? There seems to be more activity on this website with some positive news. There is a steady flow of new drilling permits across the state from DEP with some days more then other days. Will the natural gas pricing begin to climb again soon?
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Permalink Reply by farmgas on
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I`m reading reporting that the gas price has bottomed now. LNG looks like the future market changer. When will we see an uptick of prices in our royalty checks?
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Some swing trades ,, no gassers yet , select pipeliners . One Month T bills 5.5%
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Buffet ownership has not helped the share price yet .. Buffet likes OXY potential for carbon capture
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Too much production .. Weather is the big unknown , hot weather will be bullish .. Current production over 100bcf/d not good for prices .. Rig count is dropping , slowly .. The cycle will repeat , the question is when to buy ... I continue to be well over weight in T Bills [80%] and only hold a couple of full positions ,, no gassers . no oilers .. One Coal , two pipeliners ...Despite the NADAQ doing well , econimic signals seem bearish ...
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Permalink Reply by farmgas on
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So what is motivating the gas companies to continue high production? Is it their hedge funds kicking in? Is the high production caused by an abundance of associated gas from Texas? Extremely hot weather is forecast for this summer, and appears to be here already. If the MVP is completed this year and put into service a high level of production will be needed just to fill it. It seems to me this would cause a hole in supply creating a demand for more gas. Are the intended users of this gas ready to consume it in Virginia?
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Its been cool so far in NY .. That could turn around , who knows ? I have followed and have found long range forecasts to be often wrong .. Producers plan their drilling schedule a year or so in advance , permits , crews ,etc .. The turn around to lesser efforts takes a while to filter thru the system . I just sold a major position in ETRN .. MVP indeed will help those in SW PA and WV , but the market is bigger than just one system .. Gas will turn around , the question is when .. See the price of eggs a year or so ago , see the price of eggs today ? N Gas reacts in a similiar fashion .. Eggs at five bucks attracts every Chicken Farmer to produce as many as possible , eventually flooding the market . Gassers are no different
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