From oiljack's IV oil & gas discussion board, a structural look at supply:
<<http://www.investorvillage.com/groups.a ... d=13578348
natgas & new supplies
Re: natgas & new supplies
•The total rig count was down 7 from the previous week but up 2 from the same time last year, according to data released by Baker Hughes Inc. The natural gas rotary rig count totaled 337 as of February 14, a decline of 14 below last week and 84 since last year, following last week's decrease of 7 rigs. The oil rig count was 1,423, an increase of 7 from the previous week and 86 rigs greater than the same time last year.
The E&P companies will not allocate capital back to drill for natural gas until they are confident that gas prices will stay high.
The E&P companies will not allocate capital back to drill for natural gas until they are confident that gas prices will stay high.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: natgas & new supplies
in the meantime, all the drilling for liquids is yielding a lot of natty as a byproduct--will it be enough
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Re: natgas & new supplies
Cold keeps coming. Gas keeps exiting storage.
Year end levels will be interesting to see.
More interesting will be how fast the storage refills the first few months of injection season.
Year end levels will be interesting to see.
More interesting will be how fast the storage refills the first few months of injection season.