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Natural gas price up on production cuts

D

dmcowen674

No Lifer
This is why the U.S. Government should take over Gas and Oil.

Corporations doing the 1973 Oil Embargo on a daily basis now right here at home.

I say take over the 1% fuckers.


2-10-2012

http://finance.yahoo.com/news/natural-gas-price-production-cuts-183422125.html

Natural gas price up on production cuts

The price of natural gas jumped Thursday after a major producer said it is aggressively cutting production.

Chesapeake Energy Corp. told investors its production cuts are "actually higher" than the minimum of 500 million cubic feet per day it announced in January.


Investor relations chief Jeffrey Mobley said at an energy conference in Colorado that the company will push many of its natural gas operations to the sidelines until "what is hopefully a higher gas price environment" in the future. If prices remain weak, Chesapeake may limit natural gas production by up to a billion cubic feet per day.


At the request of the OP, I have gone through and removed the thread-craps and thread-derail.

Please keep your posts on-topic. This thread is about "Natural gas price up on production cuts".

Administrator Idontcare
 
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Energy companies need more profits... have you seen how much they give to obama? The only person who got more was John McCain.
 
DMC's idea is bad on so many levels its not worth the keystrokes to argue.


CHK has a lot of wells, many of which are heavy on the NG side rather than crude. They are overproducing gas and need to cut back. CHK is big enough they may have a price impact in doing this.

They produce 3 billion cfe/day. Tho cutting back to 2.5B cfe is hardly a disaster.

Whenever you drill for oil, you also produce gas. There is a flood of small and large companies drilling and fraking and they will continue to produce large amts of gas. NG will be cheap for quite a while.
 
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When I first read the linked article I swear it said Cheapskate Energy Corp. and not Chesapeake Energy Corp. Must have coffee...
 
Nat Gas is still at its lowest level in years. Chesapeake is saying that since the price is so low, it is no longer profitable to add to the supply. This is supply and demand 101, too much supply, not enough demand. I would be more worried if Chesapeake didn't respond in this way. If they didn't, the price would continue to fall and many nat Gas suppliers would go out of business.
 
OP is a moron, but that's nothing new. NG prices are pretty low as it is. Why should companies produce more for a lower price, especially with an administration that is publicly anti-energy sector?

Why does Dave hate the environment and America? Piece of shit.
 
That conference is at the hotel I write this post from.

If Cost > Revenue, Then Stop producing. It's pretty simple actually.
 
Not suprised with such a mild winter that they would cut supply since there is not enough demand. I do wish we would use natural gas for trucks and tractor trailers. I wish I would of had money a few years ago when a local dealership had a killer deal on natural gas powered f-150's.
 
nat. gas is too cheap to drill for right now. I have seen about 10 rigs lay down and move out in the past month in our area. We will start trasfering and laying off soon if we loose any more. Already have jobs scheduled in ND and may be sending some to penn. too.

i see some like to see unemployment go up even more.

this is not greed at all, its simple supply and demand.

dave, would you still go to work everyday if it cost you money?
 
herm0016 said:
nat. gas is too cheap to drill for right now. I have seen about 10 rigs lay down and move out in the past month in our area. We will start trasfering and laying off soon if we loose any more. Already have jobs scheduled in ND and may be sending some to penn. too.

i see some like to see unemployment go up even more.

this is not greed at all, its simple supply and demand.

dave, would you still go to work everyday if it cost you money?
Click to expand...

I bet in 1973 when the Arabs embargo'd oil you wet in your pants.
 
dmcowen674 said:
I bet in 1973 when the Arabs embargo'd oil you wet in your pants.
Click to expand...

personal attacks are ok for you?

I belive modertly priced oil/gas is good. too cheap and we use too much. too expensive and demand goes down, people cant afford to buy gas and heat their homes.

I was not alive in 1973.

I also belive I have a little more experence in the oil/gas industry than most around here. I have completed 4 wells in the last week and hope to keep busy enough not to be sent to other parts of the country for work.

Nat. Gas is not quite the play oil is. It is worth less and takes a similar amount of work to produce. There are also many more players in the market.

answer my question, Would you go to work if it cost you money?
 
Originally Posted by dmcowen674
I bet in 1973 when the Arabs embargo'd oil you wet in your pants

herm0016 said:
personal attacks are ok for you?

I belive modertly priced oil/gas is good. too cheap and we use too much. too expensive and demand goes down, people cant afford to buy gas and heat their homes.

I was not alive in 1973.

I also belive I have a little more experence in the oil/gas industry than most around here. I have completed 4 wells in the last week and hope to keep busy enough not to be sent to other parts of the country for work.

Nat. Gas is not quite the play oil is. It is worth less and takes a similar amount of work to produce. There are also many more players in the market.

answer my question, Would you go to work if it cost you money?
Click to expand...

If you think that was a personal attack you should close your Internets Browser and not open it again.

So what you think is moderately priced oil, gas and Nat gas?

Oh and your question, prove to me it costs more to work than you make.
 
dmcowen674 said:
No shit, that's why I said he would wet his pants in glee just like you.
Click to expand...

You're the only one that pees in their pants with every change in oil, gas, or natural gas prices. I bet you wear depends......hmmm, maybe I should buy stock in Kimberly-Clark.

Plus only you would be ignorant enough to tie oil/gas prices to natural gas prices. Natural gas is a resource that's available in large quantities in the US and not affected by prices or pressures outside the US.

As I said before, quit while your losing (Knowledgeable posters 1,000,000 - McOwned 0).
 
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