Long natural gas, and the time is now!==UNG

[Kris]

I wish I could actually lock in my natgas price (at my house) for something decent... but the best I can get is $10 fixed right now, when it's trading between $3.50-4.00! We need some competition here in Canada

 

[sledged]

Quote from CET:

You obviously don't know how much industrial gas consumption has tanked since the economy came to a crawl. Also, we are in the shoulder months for gas usage with heating load very small and none being used for a/c. And as the other poster stated the new finds of shale gas greatly increased production although some wells have been shut in because of price. Price tells you all you need to know.

Exactly, I didn't know. Thus that is why I asked.

 

[Landis82]

Nat-Gas land drillers like PTEN are so freaking far ahead of themselves, it isn't even funny!

Their rig count is down to 96 working rigs as of March 31st.
And the rate of change is dramatically increasing.

 

[Corelio]

Quote from CET:

You obviously don't know how much industrial gas consumption has tanked since the economy came to a crawl. Also, we are in the shoulder months for gas usage with heating load very small and none being used for a/c. And as the other poster stated the new finds of shale gas greatly increased production although some wells have been shut in because of price. Price tells you all you need to know.

Yes, that is true. However, the rate of decline of operating rigs continues to decline at an accelerating rate.

Companies that are being squeezed due to the credit crunch are cancelling drilling projects and relying on cash flow alone to keep a few projects open.