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Valero Energy Corporation Message Board

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  • cmontx cmontx Sep 10, 2010 9:23 AM Flag

    EPA going after Nat Gas fracturing

    That is why the NG drillers are all in with capex right now. Gotta secure those $10000/acre leases. The land owners are hoping the drilling is halted, so they can pass go and collect again, with much steeper competition.. Refiners do look cheap to me, but do not alert the media, or make a note in your books. Still buying them and holding.

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    • CMON,
      That's why I questioned your post regarding Petrohawk ceasing or curtailing drilling. My feeling is that all the drillers are punching as many holes in the ground as the can before fracturing comes under more fire. Even if they drill, fract and cap for now. New gas plant in Lavaca county as well as one a little north of there..they can't afford to slow down yet.


      • 1 Reply to sas88598
      • I know. I just capped a dry gas well, waiting on a pipeline. In a big Oil and Gas conference up in Denver last month, the CEO and COO of HK stated that they would slowdown in mid 2011 with a 35%+- reduction in active rigs in the Haynesville, which would result in a moderate net reduction in Capex, even with a slighrt increase in drilling in the Eagleford. (OILY in the Eagleford). That was the first instance where this company has made a public announce ment of pulling back. Sorry about not sending the link. It is on the petrohawk website, if you want to listen to it. I did not add to my 1000 share position in HK when the stock dropped below 15, unfortunately.

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