hmm, and the NG experts were claiming companies make money at $2.5...
case in point: Baker Hughes: lost $589 million in 3 months and laid-off 17% of its workforce
Baker even stopped providing the well count because advances in efficiencies in spreadsheets
by the end of this year, Natural Gas is expected to come out of the ground by itself and travel to the nearest utility pipeline on its own. And by the end of 2016, EIA expects the natural gas to be able to travel straight to your furnace. The entire process should be 100% efficient in 2017
Baker also posted a $589 million loss.
EIA must be right, companies are much more efficient these days...he,he,he....what a joke!
- the 2012 season ended at 2369bcf vs 1461bcf in 2015
- during the 2011/2012 winter the price declined 48% vs 45% this winter
- the price low was reached on April 20, 2012 at $1.82 vs $2.48 this year
- by May 17, 2012 the price rallied 43% ($2.60)
- by October 31, 2012, the price rallied 92% ($3.50)
- the rig count in 2012 was between 600 and 800 vs just ~220 now
- the 2012 injection season ended at 3929 bcf
I'm sorry, but at some point you just have to put these criminals on ignore. Next week they can claim an injection of 500bcf and I WOULD STILL BE BUYING. Added to my position after the report and will continue to do so every single week from now on. Accumulate, Accumulate, Accumulate
No rigs, No wells, No NG.
+63 is natural gas from EIA. This reminds me of the trick they used in November to keep the prices down for the winter.
Time to buy with both hands.