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25 Mar 2014 More

Natural Gas Prices Bust Through $6

posted by Brown Books @ 12:46 0 Comments Links to this post

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.”

Also from Brown

If you're in the oil business then you know just how important your tools are. Come check out all the great tools at our news tools division site, BrownToolBox.com.

If you like keeping up with news and events, we invite you to come see our new oil & gas media site, BrownPetro.com.

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