Missives From EnerCom

I attended EnerCom in Denver this week. It's a great conference, well run by Greg Barnett and team. The general consensus among management teams: oil prices should remain elevated, gas prices will likely remain at depressed levels, and we are in a window of opportunity where horizontal drilling techniques will continue to produce an abundance.

Remember that oil is a global commodity and natural gas is a local one, which explains the divergent pricing dynamics. Also remember that new drilling techniques are allowing more efficient exploitation of shales, but that is by nature a temporary phenomenon. Shale drilling has moved production up the North American energy curve, rather than shifting the curve, and no one should make the mistake of assuming these shallow reservoirs will yield hydrocarbons forever. It's a now business, for sure, and access to capital is a differentiator....542 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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