Wow, If that is true, not only is that bearish for PDC but perhaps bearish for the whole oil and gas sector. What does this mean now? Oil and gas inventories getting higher and higher all thru the year? I am also concened about CHK. Tom and Aubrey bought millions of shares above 30 and now look at the price of CHK. Is this a huge buying opportunity or is like buying google at 400? Naturally oil has always been over infalted as it costs only 2 bucks to produce a barrel of oil in saudi arabia and 5 bucks in usa. If oil collapses, does natural gas go with it?
different price drives. nat gas is a domestic resource which price is strictly controlled by supply/demand issues in the us. crude is an int'l commodity which price is controlled by supply/deman/politics/refinery issues, etc.