Everything quiet on the NG front?
It may seem that way but don't forget storage is empty. That is a reality that won't be going away anytime soon. It's like a fearful anxiety you can't shake, that hangs like a pall over the market. It becomes ominous if we face a hot summer. I would also suggest we don't forget the NG April rally in 2008 . We could have that possibility repeat itself. Pile on to the empty storage, - an aging well demographic, - a rig count that has literally fallen right out off the sky and we have the ingredients for the "perfect storm." Straight NG plays (no liquids) will not be undertaken in any meaningful way until the price justifies it. I think the industry’s view on this will be unwavering. Even the EIA says associated NG from the Bakken (something everyone fears) is going to be quite muted,- handcuffed by the incredible expense to build gathering systems and processing plants when NG dry gas prices don't justify the investment. And don't forget how long it takes to turn the NG market around once a drilling response gets underway. I've waited for this moment for a long time and now I'm going to savour it!!!!