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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 7:38:29 PM
From: BCherry168  Read Replies (2) of 95453
 
Jim, I don't know about your statement on "flush production" which I will quote for reference:
"..but there is also no doubt that flush production from new wells drilled over the last year will cause an over supply on NG as soon as next spring with prices below $2.00 per Mcfe.

Thats right below $2.00 per Mcfe......"

Have been in the business a long time. I do not think there is enough capex going on to do this, nor do I think that there are enough rigs to do it even if the e&p money were there. Of course, anything can happen, but my thought is that without a serious decline in demand, the price of NG will stay well above $2/mcf. If the demand declines that much, we are all in deep you know what. Just my opinion.
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