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: Cragganmore who wrote (36885)	2/5/1999 12:45:00 PM
From: Mike from La.	Read Replies (6) of 95453

I think one of the big stories that is being overlooked is the price of natural gas. In spite of a second warm winter, and record low oil prices, gas is still going at a decent price. The last big drop, I think it was 1994, gas went down to around $1.00. It crushed drilling, but it's doing ok now. Since the cutbacks in E & P, there are sharp reductions in gas drilling, as well as oil. The number of rigs looking for gas is way down. At some point soon, they are going to need a lot of gas to meet the demand, and the price is good now. One analyst in the Oil and Gas Journal predicted a severe shortage. He said it would take every rig in the GOM working to meet the demand over the next year. Don't know if he's right, but the strength of gas prices seems to support his theory. Mike from La.

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