I was just wondering I know things change daily, but is there a reliable source that you use to read in reference to the the oil and gas ups and downs? Everything is so different from all I read. I know that Russia, China and interest are other factors that play part. Just wondering as to whether things are looking upwards or down for 2023 and drilling. Thanks
There are as many opinions as there are sources. I read as many as I have time for. RBN Energy, Hart Energy, Oklahoma Minerals (they had an article on prices last week-again many opinions Oil prices: Predictions for 2023 - OklahomaMinerals.com), Landman Magazine through the AAPL, Enverus Blogs, various national and international news sources. I attend conferences with respected speakers. Anyone who thinks they can accurately predict probably knows they don’t have the magic crystal ball. Not endorsing any of the sources, just use them for gaining knowledge.
Ms. Barnes is spot on with that comment. I think you should look up the price of natural gas and oil since 1956 in a chart form. Then, for fun, pick any point in time on the chart and then look ahead 1 year and ask yourself, “did I choose a good time to be in the oil & gas business?” On a lighter side, if anyone can tell us why pizza is cooked in the round, cut into triangular pieces and delivered in a square box, maybe, just maybe they can tell us what the price of oil & natural gas will be in 2023. As for drilling, the first factor is location, location, location. From there, it is all economics.
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I can’t guess on the Oil and Gas prices, My speculation on the pizza is this. It is round because most were tossed in the air spinning at the beginning of making the dough, the triangles were cut to make equal pieces, and the boxes are square to make the manufacturing of them less costly. LOL!! Again just my speculation on this puzzle. “Happy New Year Everyone” MK
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Thank you all and I loved the analogy of the pizza. And of course the crystal ball lol wish I had one that worked. Guess time will tell. .
Like M_Barnes, I use a collection of sources, including RBNEnergy, Marcellus Drilling News, Reuters, and a lot of Google Alerts using keywords that I’ve thought of over the years. It’s all good information, but what it boils down to is the balance between supply and demand. You’re trying to figure out what is influencing supply, what is influencing demand, and in what direction. It will probably take a year or so of following the market to get a really good handle on all the different things that influence the market, but it really is as simple as supply and demand.
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