production needs to drop well below 70 and that will probably happen next year when Chesapeake cuts CAPEX in a "meaningful" way
Chesapeake said CAPEX will be cut in a "meaningful" way in 2016. Until that happens, NG is for traders only. for now, $2.2 to $2.4 seems to be the new trading range
as a matter of fact, they CAN'T raise production because there is no new money. Range just sold 3500 wells just to pay down 24% of the debt. Every NG producer has already cut CAPEX and have said the cuts will accelerate in 2016
T. Boon said NG will be above $6 again. We shall see if that is enough to bring in new money into this Ponzi scheme
the NG industry is a Ponzi scheme. The only way to get NEW money into this Ponzi scheme is by making it very attractive to any new "investors". And that is why Boone said NG will be at $6 again....
will that continue? personally, i don't think so
such a simple solution. how much longer is going to take for the so called executives to come up with it?