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: jim_p who wrote (76555)	10/17/2000 6:43:00 PM
From: Sharp_End_Of_Drill	Read Replies (1) of 95453

Jim_p, from where you sit I'm sure you have a very good perspective on natural gas production. Am I correct that your take is the 250-300 more rigs drilling for gas now compared to a year ago will result in a bunch of completions now and in the near future that will be running flush? What I wonder about is the depletion as a whole. Prices of $5.50 encourage all producers to draw down a little harder than normal. Aren't you tempted to ramp all your orifice sizes up a notch in times like these? With wells being run harder, and 850 rigs drilling, why are the production gains proving elusive? Also, if you firmly believe the $2.00 prediction, wouldn't you be pounding the table right now for producers to hedge into the current futures prices? At $5.50 I'd probably hedge at least 50% if the choice was mine. Sharp

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