Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (31577)	11/7/1998 3:33:00 AM
From: Douglas V. Fant	Read Replies (1) of 95453

Slider, Sorry guys/gals- been over in the tech stock "feeding frenzy" for the last few weeks. Note that gas prices in North America have not budged a bit this fall. Indeed they have risen to about $2.40/mcf at the hubs at which we deal. While oil sluffs along at $13-14/bbl, gas prices are doing quite fine.. Remember two things I said two months ago. In the oil markets there will always be an overhang of OPEC capacity through the Year 2003, based upon current capital projects in the Middle East being finished. However as a percentage of total world oil production/consumption, that overhang will fall. Second in the North American Gas Market, my sources says that the "pull" will not be there when gas supplies start being used up this winter in North America. Gas deliverability capability in North America is a lot lower than many people think..... Sincerely, Doug F.

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