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Friday, November 11, 2011 12:35:10 AM
I think that prices are low because of the slow US economy and US Governmental policy on shale gas leases, which required that shale gas developers drill the leases before they expire. Both of these factors have been increasing natural gas storage and lowered the natural gas price. In addition shale gas finds have initially large flows, but tend to decline at excessive annual rates. Additionally such wells are costly to drill.
Another caution, could be the $21 billion takeover of El Paso Corporation by Kinder Morgan another pipeline company owned by a former bigwig at Enron. El Paso also has natural gas production...they say the production properties will be sold off....but they can say lots of things.
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