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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Second_Titan who wrote (4833)10/28/2001 1:54:01 PM
From: schrodingers_cat  Read Replies (1) of 206085
 
Very bullish Raymond James report:

raymondjames.com
-Weather adjusted, there is 3-4 bcf/day less gas available for storage than last year.

OK, this all looks very bullish for the drillers, however:
1/ Is it possible that the producers anticipated a surplus of gas in Oct. and that they have delayed bringing their wells into production? Perhaps they looked at the futures prices and decided to sell the gas forward instead of producing it right away?

2/ Does the lack of production growth indicate a shortage of good quality prospects for natural gas companies to drill? Will this hold back demand for drilling rigs in future?

3/ High prices cure high prices, and with NG back above $3, this will drive fuel switching to #6 oil and may force fertilizer plants to shut down again.

I would prefer to see NG below $3 until storage is drained or the economy recovers.
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