Replies to This Discussion

Permalink Reply by Jaybird on October 10, 2008 at 2:31

I agree with Kassi.

Winter is on the way and once the elections are over, the O & G's will start their new year moving forward with their new budgets for 2009.

All is well...and the future looks bright for all of Louisiana.

Jaybird

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Permalink Reply by Grillin' - MmmMmm on October 10, 2008 at 2:39

Jaybird: Those new budgets for 2009 are currently being SLASHED. Read the reports. Most are cutting capital spends by 25%...and that was before they lost 50% of their market value. CHK down from the 70's to 17? Think that will not have an impact? Things are getting ready to slow way down and I don't anticipate the winter helping out that much. The economy is in the tank, we are full bore in a recession that could last a year or two, making the slowdown painful. And it looks like we're getting to elect a tax raising socialist left wing nut job as president. Well maybe Americans will wake up and get educated in the next 3-4 weeks instead of looking at the bright lights, pretty faces and cute speeches. Maybe. But I doubt it. But I'm willing to go through 4 years of economic hell to ensure that we don't re-elect that fool or any of his "friends".

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Permalink Reply by keb on October 10, 2008 at 18:21

if you put up with the f--l we now have for eight years.....you gotta be kidding if you think this one is half that bad.....more prayer and less talk would help.

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Permalink Reply by Gas Baron on October 11, 2008 at 1:28

Reply by Mmmarkkk
But I'm willing to go through 4 years of economic hell to ensure that we don't re-elect that fool or any of his "friends".
Well thank goodness Bush cannot be re elected so you won't have to go through 4 years of economic hell after the last 8

Though McCain and Bush have basically the same policies so electing McCain aka: McBush would be like re-electing that fool

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Permalink Reply by Martin on October 11, 2008 at 8:38

What socialist ideas? Give us a few examples please. Put up or shut up.
I hate to tell you Mmmarkk, but who ever is elected in November will have to raise taxes to pay for the socialist bail out of the financial sector ($700 billion at risk), plus pay for the Grand Canyon of debt that Bush and his fellow Republicans have gotten us into over the past 8 years. When Clinton left office, the Federal budget had a surplus -- had it for three years, and one year into Bush's rule. Then the Republicans got to write the budget for Bush. It's been deficit spending year after year every since. Tell me, when was the last time the Republicans had a balanced budget or a surplus? I don't mean proposed, I mean actually had one?

it's time for the adults to take over and run the frat boys out of town.

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Permalink Reply by Mark on October 10, 2008 at 2:45

Nat gas prices have been "un-tieing" themselves from from the seasons for some time. The statement that prices will go up when winter sets in is just not accurate.

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Permalink Reply by Jaybird on October 10, 2008 at 3:27

Mmmarkkk,

I understand the budgets are being cut, But I also understand and have watched once the economy gets back on tract, the O & G's can increase their budgets. It's definately a up and down business and on of the tricks to survival of any business is to ride the up and downs. Don't panic and make sound and good decisions. The price of Natural Gas was $3.00 years ago and rose to $10.00 over recent times. Now it's down again. As Tom Hanks said..."The sun will Rise" as will the price of Natural Gas.

My company makes adjustments all the time to adjust to the changing economy. It might take a year or two for the happy times to come around but I am willing to wait. As most people are aslo willing to wait. The Oil and Gas will be there when it's better times.

Also,
Keep in mind that 7 months ago....the Haynesville Shale saga wasn't even a reality. The ups and down of the oil and gas business have been going on for a very long time. We fortunately now have the technology to sign onto the internet and find out what is going on in America in a matter of 6-7 seconds. We know right away what happens in America before it comes across the news channel that we watch at 5:00pm and 10:00pm. Everyone has access to stocks every 20 minutes now when we used to read about it once a day. I think it's great that America is more informed and can express their opinion on matters like this and let the world know what they think and feel. But we need not to panic.

Heck, I just threw away a complete set of the World Encyclopedia. Remember those?

Here's a funny story just to amuse everyone:

I remember having to jam that heavy steel oil spout down onto the cardboard top of the oil can to fill up my lawnmower. I hated doing that at age 9 when my dad would yell at me when I spilled the oil over the side and talk about how expensive that can of oil was at 29 cents a can. Now you get a twist of platic container for over $2.00. Very easy to pour without spilling. Times change, technology changes and prices change. It's part of America...which is why I am so proud that was born and raised in the United States of America.

The Oil and Gas business will rebound...and so will America...it's what we do!

Enough rambling...just be patient everyone. Play the lotto in the meantime! :o)

Jaybird

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Permalink Reply by Martin on October 11, 2008 at 9:04

Do you really think that NG prices are independent of the yearly seasons?

The following is a quote from today's Wall Street Journal, the Money and Investing section, Commodities, page B15:
Natural Gas (NVM) 10,000 MMBtu, [unit contract size], $ per MMBtu,
[for delivery in month listed]
November settled 6.535 down 0.290
December settled 6.881 down 0.275
January '09 settled 7.189, down 0.269
March settled 7.169, down 0.259
April settled 7.064 down 0.239
May settled 7.119 down 0.244

Looks like a 10% variation for November through January.
The recent peak price was in July at $13.99.

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Permalink Reply by Jaybird on October 11, 2008 at 10:45

Martin,

If your asking me about NG prices being independant of the yearly seasons, I say that we do use more Natural gas during the winter than we do in the summer months in terms of heating. It's all about supply and demand. Once our economy stabilizes and we get back on tract, maybe our Country can start the process of finding more and more uses for Natural Gas. Times are changing and I see that happening in the very near future. When we need more gas it will affect production and the supply of demand.

That's all I was saying. I truely believe all is well. I'm not panicking. But I could be wrong! :o)

Jaybird

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Permalink Reply by RAZORBACK on October 10, 2008 at 3:42

More info,
Credit Crunch and Sinking Prices Threaten Chesapeake Energy's Growth
By BEN CASSELMAN
Article
Comments
more in Business »Chesapeake Energy Corp. is scrambling to sell assets and cut costs as falling energy prices and tightening credit threaten to derail the company's dramatic growth.

The Oklahoma City company has spent aggressively and borrowed heavily to fuel its climb this year to become the largest U.S. natural-gas producer. Its efforts were supported by natural-gas prices that leaped to a high of $13.577 per million British thermal units in July before fears of a supply glut sent prices plunging. Natural gas settled at $6.825 Thursday on the New York Mercantile Exchange.

Now Chesapeake is dramatically cutting back the costly land-leasing program ...

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