U.S. Gas Fields Go From Bust to Boom

Discussion in 'Economics' started by jficquette, Apr 30, 2009.

  1. CADDO PARISH, La. -- A massive natural-gas discovery here in northern Louisiana heralds a big shift in the nation's energy landscape. After an era of declining production, the U.S. is now swimming in natural gas.

    Even conservative estimates suggest the Louisiana discovery -- known as the Haynesville Shale, for the dense rock formation that contains the gas -- could hold some 200 trillion cubic feet of natural gas. That's the equivalent of 33 billion barrels of oil, or 18 years' worth of current U.S. oil production. Some industry executives think the field could be several times that size.

    Huge new fields also have been found in Texas, Arkansas and Pennsylvania. One industry-backed study estimates the U.S. has more than 2,200 trillion cubic feet of gas waiting to be pumped, enough to satisfy nearly 100 years of current U.S. natural-gas demand.

    http://online.wsj.com/article/SB124104549891270585.html#printMode
     
  2. CET

    CET

    This find, along with the Marcellus shale in the northeast, are exactly why NG prices have tanked. Sure industrial demand has cratered with the economy, but the big increase in production killed prices. Now plenty of production is being shut in, so at some point energy prices will be moving higher quickly. Oil is still overvalued IMO, but speculators have moved back in oil or it would be in the low $40s.
     
  3. My guess is China is buying Oil with $$$ they have gotten from selling Bonds back to the Fed.
     
  4. Mnphats

    Mnphats


    Those evil speculators. :D
     
  5. CET

    CET

    They call themselves liquidity providers.
     
  6. Mnphats

    Mnphats

    Yup they are called a lot of things.
     
  7. Banjo

    Banjo

  8. I’m thankful that the sun and moon
    Are both hung up so high
    That no presumptuous hand can stretch
    And pull them from the sky
    If they were not, I have to doubt
    But some Obama loving ass
    Would recommend to take them down
    And light the world with gas!
     
  9. We have a few wells pump'n very great %s of both oil and gas in the Delta Region, La Fouce Parish LA. We have one off the coast that is doing very well.

    We are drilling 20 wells SW of the Elm Coulee Field in the Montain Region of the BAKKEN SHALE.

    This will take about Two Years. But we believe that we will hit payday.

    This is the best time to be involved in Energy like Naty and Oil. These levels are so low, it makes the cost of Drilling Wells less expensive.

    Most on ET can't get involved in Industry Grade Drilling Projects, but if you can pick up ETFs , I have loaded all my net worth in Oil, Gas and Agi. From ETFS, to actual futures ........

    Inflation is around the corner...... only a matter of time.

    Most people will miss the play as they are the ones who are focused on the Stock Market or they believe Oil is going to 8 and Tree Bark and Sunshine will create all the energy we need.

    Hard Assets are the only play for the next decade if not more....
     
  10. Long July NG today @ 3.40

    :)
     
    #10     Apr 30, 2009