US NG hit my target of a $2 handle on the futures price. HH Spot is holding just above that. We might get a bounce prior to the weekend, but now some are calling for $2.25 to $2.50 for NG...
No weather related events and NG rig count is going up slowly. Must be the 'have to do drills' or lose it type of situation. Wonder once tey are drilled if they will be hooked up?
Canadian storage is almost 100% full in some areas so the gas will have to go somewhere.
Big companies continue to produce like crazy and smaller companies produce enough to pay bills.
Unhedged producers and those with lots of debt and bills to pay are going to be in a new world of hurt over the next couple of months.
AZZ had better be 'lucky' and get some decent flow rates on their wells (Like all those other company's wells that are always touted on this and other threads) and it had better be flows laced with lots and lots of condensate or AZZ is headed right back down again with a huge overhang of shares to be dumped by short term holders from the recent cap raising.
Are you feeling lucky?
azz zzz, page-12
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