Natural Gas Sees Increase

April 26, 2010 | Print this Page.

We recently blogged about the Department of Energy report that overestimated the natural gas supply. Shortly before the official revised report came out with lower numbers, natural gas prices rose. Despite this, the supply remains higher than the norm at 5.5 percent higher than the previous year.

We've also been reporting oilfield companies cutting back on natural gas exploration and production. It turns out that the number of rigs fell by 17 rigs. Nonetheless, with 956 active rigs, it's much higher than last July when the rig count stood at 665. Also, last week's gas demand from power generators went up to 1 billion cubic feet per day in one week.

Oil and gas production companies continue to struggle with finding a profitable price point due to price volatility.

Interact with Us:

Share This Blog Post:

Post new comment

The content of this field is kept private and will not be shown publicly.
This blog uses the CommentLuv Drupal plugin which will try and parse your sites feed and display a link to your last post, please be patient while it tries to find it for you.
CAPTCHA
This question is to determine whether you are a human visitor and to prevent automated spam submissions.
Capital Solutions Apply Today, Get Cash Next Week

What Our Clients Say

Risk-Free Guarantee

...thanks for coming to our rescue a few years back when things were a bit shaky. Though we always had confidence in what we were doing, our local bankers didn't. Finding Capital Solutions was a godsend for us at that time and we'll always appreciate your efforts. You are definitely the best people we have ever worked with

John Vitullo
Omega Laboratories

We were funded [in 10 days] (the approval process was very smooth). The way I spend my time has changed dramatically since then. I can spend as much time as I need visiting with customers and out on the field.

George Del Toro
GDT Well Service