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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Big Dog who started this subject	6/27/2003 9:58:15 PM
From: quehubo	Read Replies (3) of 206092

Ed, Bearcat, Jim_P If it takes 1,000 NA NG rigs working to flatten out gas production, what NG price do you think E&P's will require to maintain level drilling? I guess what do we think the equilibrium price will be? It seems to me we will enter the Winter with 3,000+ bcf in storage, maybe flat production that is much lower than year 2001, and a good deal of fuel switching and demand waiting to return. As long as we have a Winter almost cold as normal like last year, I expect we will drop below 800 bcf again if prices are below #2 oils $5.50 mbtu. So will producers just keep drilling to try and recover demand at $4.50, $4.25 and $4.00.

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