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ConocoPhillips Message Board

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  • ch4_tycoon ch4_tycoon Aug 21, 2009 12:04 PM Flag


    <<<as NG recovers in 2010>>>

    I have a smallish position in COP, but do not necessarily share your opinion about gas recovering, by much, in the next few years. What are you basing your NG recovery on?

    There are too many NG rigs sitting idle, and too many places to drill just waiting on a rise in prices. Even with a rise in demand, supply can quickly rise to meet whatever we need.

    I wish I were more optimistic about NG price right now as a significant portion of my income is from NG production...but we have been too darn good in finding the stuff in the last few years.

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    • What is interesting is that before the advent of the shale gas horizontal drilling plays, the U.S. and Canada could not keep supply even with demand, even with several thousand rigs drilling. Now we are betting the farm that the shale gas plays are going to provide us with unlimited supply into the far distant future. Only time will tell if that is true. With the rapid depletion rates and the high expense of the shale plays, it will be interesting to see where gas prices finally line out when the ecomony recovers and congress moves us to a greener infrustructure. This will definitely put more focus on using nat gas.

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