well costs??? In shale are being punched in the Barnett for under $500K USD. the only $10MM+ wells I have heard of are Cardium and Duvernay Deep Long leg HZ's with multi stage fracs (searching for light sweet and NG Liquids rich.) Specialized rigs with the horses required to twist a bit and bend a pipe command those prices...Shale gas rigs are not quite so specialized...lest we forget that the production profile for the BIG boys is to drive down costs based on bulk purchases, long term supply and service contracts and employing a production line process to drilling, completions and tie in...used to be OIl and GAS was followed by EXPLORATION & DEVELOPMENT...now it is just oil and GAS development.
U.S. Companies are currently compelled to drill based on contractual obligations NOT supply and demand metrics. However the good news is that some of those JV agreements should be coming to term... and many of the leases signed up since the initial gas "rush" through 2008 and 2009 will be expiring or already have.
Is relief to low prices in site? the expert consensus is not until the start of the next decade...
do as you choose,
it's my opinion git yer own.