Top Producers Speak About Natural Gas Future $APC $CHK $ECA $UPL $XOM
Natural gas has been coming back recently and the top companies seem pretty confident about its future. See what they have to say about the current state of the market and their way of profiting from it.
Exxon Mobil was asked in its Q3 conference call if the decline in drilling rigs directed at their unconventional natural gas acreage was going to result in pretty rapid declines in production in 2012. Exxon’ reply was:
We will see how things go. I will tell you, in some areas, we’ve been actually able to keep the volumes flat, while reducing the rigs due to efficiencies we have gained, rates of drilled wells and that sort of thing. So we have been able to offset some of this decline in rigs with some improved operations and productivity.
Chesapeake is the number two producer in the country and has been responsible for a lot of the drilling that has been done at what have been uneconomic prices. You don’t have to go far into the Chesapeake third quarter call to find some pretty interesting comments about what the company thinks will happen with natural gas in 2013. CEO Aubrey McClendon observed:
Read Full Article Here: http://turnkeyoil.com/2012/12/04/top-producers-speak-about-natural-gas-future-apc-chk-eca-upl-xom/