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Politics : High Tolerance Plasticity

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To: Second_Titan who wrote (3777)	4/25/2001 12:39:58 PM
From: diana g	Read Replies (3) of 23153

NG Production Increases??? I notice that XTO is predicting this morning that their production will increase ~15% by the 4thQrtr. EOG was also recently saying they have increased production. Flush production from increased drilling has seemed (to this point in time) to be largely absent or offset by depletion, but now I'm wondering just how sure a thing NG shortages & much higher prices will be in coming months. We saw last Winter how fuel-switching & shut-downs by heavy NG using industries etc brought demand in line with supply when supply was much more constrained than it seems like it might be six months from now, even with increased demand for NG fueled electric generation taken into account. Perhaps there won't be a repeat of last Winter's high NG prices? The NG focused E&Ps are rising nicely now, but how high can they be expected to go? They didn't get a whole lot higher than this last Winter at their peaks. The NG story is well known to investors now. Production is apparently on the increase. Demand will be increasing, but if supply is adequate to hold NG at $5 avg for the next year or so, what are the E&Ps worth? How high is up for the NG E&Ps? All opinions welcome! regards, diana

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