Shutting in Production The writing was on the wall when Chesapeake announced they were shutting in production... similarly Progress energy here in Canada announced they were shutting in and spending $100MM less... a foreshadow of things to come this reporting period??? ANY company with a predominant "dry" gas production profile is heading for the wall...shut in means less production...write downs on "economic" reserves, leading to reduced NAV and available credit...and if companies are shutting in and reducing budgets that means ... they are entering survival mode... and if your trying to survive... the last thing your interested in is acquiring someone else's liabilities... UNLESS those liabilities can be had for pennies on the dollar...
as always it's just my opinion... git yer own...