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Natural Gas Fundamental Analysis February 23, 2012, Forecast
Analysis and Recommendations:
Natural Gas is down from the opening of 2.788 and is trading at 2.759. With warmer weather predicted along with the days of winter ending, inventories are more than enough to see the cover demand. Today Chesapeake Energy Corp. said it plans to more than double its oil and liquids production by 2015 as the natural gas giant aims to become one of top five U.S. oil producers.
Chesapeake and other oil and gas companies are fleeing natural gas fields amid a supply glut that has brought prices to low levels not seen in years. Chesapeake said it plans to produce about 250,000 barrels a day of oil and natural gas liquids by 2015, up from about 104,000 barrels a day in the fourth quarter.
Originally posted here
