|
|
Enron Mail |
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: webmaster@cera.com@ENRON X-To: clients@cera.com X-cc: X-bcc: X-Folder: \SHARRIS1 (Non-Privileged)\Harris, Steven\Deleted Items X-Origin: Harris-S X-FileName: SHARRIS1 (Non-Privileged).pst Title: Drilling Activity Downturn Means Tighter Gas Supply URL(s): http://www.cera.com/eprofile?u=35&;m=2808; *********************************************************************** FALLING GAS PRICES TRIGGER ACTIVE RIG COUNT DECLINE The economic downturn, lower industrial demand, moderate weather, and falling gas prices have combined to hit gas-directed drilling activity hard. Gas prices briefly fell below $2.00 per MMBtu in October. From a midsummer peak of 1,068 gas-directed rigs, the US industry active rig count plummeted to 834 by November 9 and could fall as low as 700-750. Producers' drilling plans for the 2002 budget year are already being curtailed. * The drilling downturn could mean as many as 8,000 fewer gas wells in the United States over the next 12 months and 1.5 to 2.0 billion cubic feet per day of lost production. * The majority of the activity reduction is onshore, but the significant drop in Gulf of Mexico shallow shelf drilling will have a huge impact on productive capacity. * Gas supply could be extremely tight once again next year just as the economy recovers, and gas demand is expected to rebound with it. **end** Follow above URL for complete report. E-mail Category: Decision Brief CERA Knowledge Area(s): North American Gas *********************************************************************** ************************************************************************************** CERAWeek February 11-15, 2002 - http://www.cera.com/ceraweek SPECIAL OFFER: Register on-line before November 30th, and a 2-Day Pass will be upgraded to a 4-Day Pass (maximum $1,800 value). Day 1: Global Oil/Refined Products; Day 2: Natural Gas/Global Energy; Day 3 & 4: Electric Power ************************************************************************************** To make changes to your cera.com profile go to: http://www.cera.com/client/updateaccount Forgot your username and password? Go to: http://www.cera.com/client/forgot This electronic message and attachments, if any, contain information from Cambridge Energy Research Associates, Inc. (CERA) which is confidential and may be privileged. Unauthorized disclosure, copying, distribution or use of the contents of this message or any attachments, in whole or in part, is strictly prohibited. Terms of Use: http://www.cera.com/tos Questions/Comments: webmaster@cera.com Copyright 2001. Cambridge Energy Research Associates
|