I wish I could actually lock in my natgas price (at my house) for something decent... but the best I can get is $10 fixed right now, when it's trading between $3.50-4.00! We need some competition here in Canada
Nat-Gas land drillers like PTEN are so freaking far ahead of themselves, it isn't even funny! Their rig count is down to 96 working rigs as of March 31st. And the rate of change is dramatically increasing.
Yes, that is true. However, the rate of decline of operating rigs continues to decline at an accelerating rate. Companies that are being squeezed due to the credit crunch are cancelling drilling projects and relying on cash flow alone to keep a few projects open.