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StormTalks Drilling Plans for 2017
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Storm Resources has reported its second quarter 2016 results.
Key Points: 2017 Plans: $80 million capex (same as 2016) / 11 well completions (same as 2016) There was minimal activity with three horizontal wells commencing production at Umbach during the quarter 2017 GuidanceNatural gas prices in North America have improved significantly over the last three months as a result of increasing demand in the United States (electric power generation, LNG exports, exports to Mexico) and flat to declining production. With rig counts at historical lows and higher debt levels preventing many producers from increasing capital investment, natural gas prices should continue improving into 2017. Longer term also appears increasingly bullish with LNG export capacity of more than 9 Bcf/d currently…
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