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To: Graewoulf

“Oil and Gas reserves are mainly a function of price”

Exactly. The price of natural gas is barely above $3 per Mcf. The producers are taking rigs offline to reduce supply and increase prices.


37 posted on 01/22/2013 6:27:09 AM PST by sergeantdave (The FBI has declared war on the Marine Corps)
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To: sergeantdave

“The producers are taking rigs offline to reduce supply and increase prices.”

Or maybe it’s as simple as not being profitable when the prices are that low.


43 posted on 01/23/2013 5:56:53 AM PST by Dusty Road
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