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Saturday, March 7, 2009

Some Drilling Slowing Up Due To Low Prices

Chesapeake shuts in gas, may idle more rigs
Oil & Gas Journal
Chesapeake Energy has shut in 7% of its operated gas and oil production due to low Midcontinent wellhead prices and is considering a further 10% reduction in drilling in 2009 if prices stay low. More...

4 comments :

Anonymous said...

Lets all pray that gas and oil prices skyrocket again so these guys can drill!!

Anonymous said...

If natural gas prices are so low, why is UGI (PPL) wanting to raise their rates soon?? Nat. Fuel has lowered their rates!
Sounds like gouging to me!

Anonymous said...

We need to find a way to tax these companys real soon, and raise rates on permits, and make sure every tree hugger with a cause is on them!Lets do all we can to make it hard to turn any profit at all!Does anyone see another chance for this area to get out of the stone ages slipping away?

Anonymous said...

isn't funny? a couple of years ago, no one knew the first thing about oil and gas exploration. there was no mention of it. none at all. there was no interest.

now that it has become a major player in the area, we have self proclaimed experts who choose to do nothing but complain.