...."no one is investing in onshore gas in the US"...lol..thats your best so far
just to clarify again dot... this from exxon themselves..
just for a reference, TXN has gas projects that even cel could get in on a easy farm in.. txn would give it to them if they wanted to give some WI back.. happy to work the deal.. but no one is making money on gas, it staggered me that CEL was doing this and i wondered why anyone was backing this project from the investor side.. oil is where you make dollars onshore.. gas is a shocking place to be
if the ceo of exxon is not convincing enough, perhaps email him and laugh at his comment also!!
lol
Exxon CEO: 'Losing Our Shirts' On Low Natural Gas Prices by Dow Jones Newswires | Jerry A. DiColo | Wednesday, June 27, 2012 change text size
Exxon CEO: 'Losing Our Shirts' On Low Natural Gas Prices
NEW YORK--Exxon Mobil Corp. (XOM) is making "no money" on U.S. natural gas due to low prices that have fallen below the cost of production, Exxon Chief Executive Rex Tillerson said Wednesday.
U.S. natural-gas prices--which fell below $2 a million British thermal units earlier this year to the lowest level in a decade--are not sustainable, as energy companies won't be able to continue drilling unless prices rise, Mr. Tillerson said during a breakfast event in New York.
"We are losing our shirts," said Mr. Tillerson.
CEL Price at posting:
3.1¢ Sentiment: Sell Disclosure: Not Held
