Post by
kavern23 on Oct 31, 2024 11:27pm
Serious
Things are starting to get serious, a few new hitting 52 week lows today.
Bne is 3.36. Ipo is 1.89. Pne is 85 cents.
ygr even holding at 1 to 1.10 is they are delivering viable business plan to survive this industry down turn.
the weather is just so ugly in the USA last few days. Not just being warmer it is the amount of wind energy lately, suppresses up to 10 bcc a day of ng power demand on fluky wind days and last 3 days have been.
USA is at 3917 bcf full. Total capacity is like 4067 bcf.
I think it will end up at 3990 ish but if windy next two weeks...it could get closer to max.
15 injection days left
high cost old ng wells need to be permantlty shut in and prices will turn after this happens.
ukraine Russia war price spike turner on some low producing wells that need to be shut in again but perm.
Gas wells that produce 1-2 boe a day if just pure ng don't need to be running.