After dismal 2016, shale gas drillers begin to turn a corner

Associated Press ^ | Jul 4, 2017 11:21 AM EDT | Michael Rubinkam

[Olog-hai]

Pennsylvania’s drilling industry is showing signs of life.

Natural gas producers drilled more than twice as many shale wells in the first half of 2017 compared to the same period last year. About 20 additional drilling rigs are exploring for natural gas and fracking crews are suddenly in short supply.

One big reason is that natural gas prices have recovered from 20-year lows, nearly doubling since last year. …

[DIRTYSECRET]

Just drill horizontal-wise into NY.

[PAR35]

One big reason is that natural gas prices have recovered from 20-year lows, nearly doubling since last year.

Fake news.

Natural gas is presently 2.98/million BTUs. In the last 52 weeks prices have ranged between $2.52 and $3.94.(New York Merc)

I don't see it as low as $1.49 at the Henry Hub in the last 10 years. Lowest I see is $1.73 in March of 2016.

New York Merc past year: http://money.cnn.com/data/commodities/index.html

Henry Hub monthly prices: https://www.eia.gov/dnav/ng/hist/rngwhhdm.htm

[Major Matt Mason]

Henry Hub isn't necessarily the price that would be had in PA, though. It has been lower in PA because it is harder to transport gas out of that region due to a lack of infrastructure (pipes).

[smokingfrog]

https://seekingalpha.com/article/4085367-weekly-natural-gas-recap-2017-mid-year-score-card-fundamental-trends

[USS Alaska]

One big reason is that natural gas prices have recovered from 20-year lows, nearly doubling since last year.

WHHHAAAAAATTT??? Do the LAWS of supply and demand actually work?

[Olog-hai]

Not under Obamanomics.