Gas surplus spawns pessimistic Canadian outlook

Continued drilling in the face of deteriorating economics -- gas-directed drilling is up 40% from a year ago, with about 980 gas rigs operating in the US alone, not to mention a few hundred more in Canada -- has created a supply dragon that can only be slain by a sword forged by "prices low eno...

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Bibliographic Details
Published inNatural Gas Week Vol. 26; no. 38; p. 12
Main Author Shook, Barbara
Format Journal Article Trade Publication Article
LanguageEnglish
Published New York Energy Intelligence Group 20.09.2010
Subjects
Business forecasts
Drilling
Natural gas
Natural gas industry
Pipelines
Prices
Trade surplus
Canada
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Summary:Continued drilling in the face of deteriorating economics -- gas-directed drilling is up 40% from a year ago, with about 980 gas rigs operating in the US alone, not to mention a few hundred more in Canada -- has created a supply dragon that can only be slain by a sword forged by "prices low enough for long enough" to "tilt the balance of the market firmly to a structurally undersupplied situation."
ISSN:8756-3037