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Will higher prices spur a gas drilling rebound?

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Report summary

The worst days appear to be over for North American gas producers. Cash prices are up $2/mmbtu since this time last year, storage inventories are back in neutral territory, and for the first time since late-2011 the NYMEX curve offers producers a chance to lock in prices above $4/mmbtu. Last year's gas and NGL prices damaged producer balance sheets, but cash flows are improving. At current market prices, lean-gas plays like the Haynesville Core and Fayetteville offer returns above 15%, and...

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Table of contents

Tables and charts

This report includes 6 images and tables including:

Images

  • Chart 1. Expected average price of a new gas rig development vs. currently active gas rigs
  • Chart 4. Percent of low-cost gas acreage vs. gas development focus
  • Chart 5. Rig fleet average 6-month productivity (new drilled volume)
  • Chart 2. Returns for select Mid-Continent plays
  • Chart 3. Returns for key plays at $4/mmbtu

Tables

  • Table 1. Natural gas rig counts and stated gas price for increased gas development for key companies

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