ust mentioned there's a reason for lower U.S. natural gas imports. Domestic production, particularly in unconventional basins, has been on the move. U.S. production is expected to grow by nearly 7% this year, and estimated to grow over 4% in 2009. Not surprising, the majority of growth are due to the huge investments made in shale gas, coalbed methane and tight sandstone formations.
Despite the boom in production, today's market is still rough. Let's face it, oil isn't $141 per barrel anymore. Now that natural gas is trading below $7 Mcf, many companies are scaling back their projects. But as I've said From 'Energy and Capital' Might be reason for lagging SP
MPO Price at posting:
62.3¢ Sentiment: Hold Disclosure: Held