Drilling and the boom

[salvelinusfontinalis]

http://news.yahoo.com/s/ap/20110612/ap_on_re_us/us_gas_drilling_boom_towns

Similar booms have happened in other shale regions — most notably Pennsylvania, North Dakota, Wyoming and Montana. In the places with mostly natural gas, however, production is slowing as the price of natural gas drops.

Anyone seeing this? I'm not.

 

[tomgamber]

What aren't you seeing Sal? The boom or the price drop.

If its the boom you nee to drive north and see the ridiculous number of wells.

If its the price drop...gas is pretty low right now but since many of these the major gas and oil companies are about to start exporting it, the price will be going way up before we know it.

 

[salvelinusfontinalis]

Neither.

I'm not seeing the production slowing.

 

[tomgamber]

Maybe I'm not reading it right but I think the booms and the slowing were 2 separate thoughts. I haven't seen it slowing much either. I have seen the price drop from a glutted market but as I said that will change when they start shipping it to China and allow supplies to fall here. Chesapeake has pretty much pulled out (is pulling out) of Pa altogether. I think the article is kind of funny since they really haven;t been taking all that much gas yet from what I can tell. Seems like they are still just trying to get to it. Maybe as someone in another thread suggested, they aren't finding as much as they thought they would. I think the visible activity is beginning to level off and could be perceived as slowing compared to how balls to the wall it started off.