25 Mar 2014 More

Natural Gas Prices Bust Through $6

posted by Unknown @ 12:46 0 Comments

Natural gas prices on the rise
Record low temperatures across the nation have led to plummeting supply and surging natural gas prices.  While the price per mcf did drop by 1.4 percent Thursday, still it closed above the $6 mark at $6.06.  Prices are now the highest they’ve been in more than 5 years.

The initial sticker shock for consumers may be a blessing in disguise for producers, however.  “Higher prices will give us the additional capital to continue drilling,” says producer Pete Brown of Cimarron Production Co. “The more money we have, the more we spend on drilling new wells. We have four or five areas where we’re looking at drilling vertically.”

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