Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: JoeDi1213 who wrote (49876)	8/26/1999 2:25:00 AM
From: SliderOnTheBlack	of 95453

Nat Gas..ie:< operations in the east because that is where the tightness is> Amen; RRC is Apalachia - east coast dominant; the JV with First Energy is to capitalize on their synergies in becoming the dominant player in East Coast NG. RRC drops $100 M off the debt side in the JV agreement, the JV is immediately accretive to earnings, First Energy has 350 people in their marketing dept - focusing on ''capturing value each step of the way from the wellhead to the burner tip to the end user''. A major point from Deutsche Bank analysts was this would allow Range to get higher netbacks for its gas production in the region. The addition to NG supplies was 50% less than last year - same week ! There are simply NOT enough rigs drilling for Nat Gas for us to not remain in a bullish nat gas price environment supply-wise- and with the realistic possibility on the East Coast to enter into a ''rationing by price'' environment in nat gas this winter... quote.bloomberg.com ***Wholesale prices already are 65 percent higher than a year ago amid expectations of tightening supplies, and they could get even higher, industry analysts say. Retail prices won't rise as much, because the price of gas represents only a part of the cost of delivering the fuel to consumers. ''New wells coming on line aren't keeping pace with the number of old wells that are depleting and being abandoned,'' said Ron Barone, managing director of natural gas research at PaineWebber Inc. in New York. The most recent data published by the Energy Information Administration showed the nation's natural gas reserves at the end of 1997 were the equivalent of just 8.4 years of demand, the lowest since the 1950s, Barone said. .... GO GAS !!! & stay small...cap that is.

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