That is for natural gas and that is MCF.
Talked to a gas co exec. this weekend. Not a major gas company but pretty good size. Hold your hat. The company he works for is doing contingency planning for $2 gas this summer. They are hoping it can stay at $4 but their risk management is looking at a blood bath 4th quarter 09 first quarter 10. I hear a lot of guys being told middle of May things will pick up.
Hope so. A lot of the Marcellus play has to be drilled to hold leases. These leases were done at the high of the market. A lot of iron is heading to PA and NY. But if the gas companies run out of money, the hands may just be swapping where the unemployment check is going to be sent. Then who is going to have the CAPX to hook them to the pipelines?
Smelling like 86
BABRT's