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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (23865)6/17/2003 9:23:18 AM
From: Ed Ajootian  Read Replies (1) of 206209
 
Thanks Jim, that graph helps a lot. If you now overlay this graph of finding costs herold.com on that one, it becomes clear that wellhead prices have tracked finding costs over the long term, which is what one would expect.

I guess back in the early 80's we had found all the easy targets using 2D seismic and it took 3D (and other technological advances) to improve the hit rates enough to drive down finding costs, which allowed gas to sell for so cheap.

But those days are over buddy, unless somebody invents some new technology just as revolutionary as 3D seismic was.
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