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141 comments on Energy Margin Calls- Chesapeake CEO Forced To Sell All His Stock

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Nate Hagens on October 10, 2008 - 9:16pm Permalink | Subthread | Parent | Comments top

Yup and Yup.
The price window may last for a time with oil, but it is about over for NG. This news will bring us to permanent double digit levels for NA gas, and probably in next few months.

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estoviru on October 10, 2008 - 10:50pm Permalink | Subthread | Parent | Comments top

Nate:

Could you please explain you comments further...Thanks

The price window may last for a time with oil, but it is about over for NG. This news will bring us to permanent double digit levels for NA gas, and probably in next few months.

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Nate Hagens on October 10, 2008 - 11:12pm Permalink | Subthread | Parent | Comments top

Chesapeake is the largest nat gas driller in US by a longshot and is going to fall pretty dramatically. The current new wells drilled deplete at about 50-60% in first year - the market was expecting Haynesville and Marcellus to make up for currently depleting wells but financial crisis is going to slow expansion or stop it cold. Commodity analysts now have an excuse to get bullish due to lower natural gas production expectations. A huge psychological change in my opinion. And the market is near record short positions.

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Rune Likvern on October 10, 2008 - 11:20pm Permalink | Subthread | Parent | Comments top

Nate,

Do you know when they have to cover their shorts?

The US nat gas market could be well supplied till after the heating season (end of March) as the storage situation presently is good.

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estoviru on October 10, 2008 - 11:45pm Permalink | Subthread | Parent | Comments top

Nate:

Thanks for the prompt response....I guess the great unknown as well will be the winter weather....I see that the forecasts for the Northeast will be quite cold....probably the same for the Midwest...

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ChipSeal on October 12, 2008 - 8:27am Permalink | Subthread | Parent | Comments top

First snow in Boise Idaho is the earliest on record! From the Idaho Statesman published Saturday 10/10:

"This is the earliest measurable snowfall in Boise since record-keeping began in 1898, according to the National Weather Service. At 10 p.m., the Weather Service said 1.7 inches of snow had fallen. The previous earliest recorded snowfall was Oct. 12, 1969, when a little more than an inch fell."

http://www.idahostatesman.com/102/story/530075.html

Who says global warming is a bad thing?

Chip

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141 comments on Energy Margin Calls- Chesapeake CEO Forced To Sell All His Stock

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