Natural Gas Producers Remain Confident in Long Term Prospects
June 30 2011 - 7:16AM
Marketwired
Natural gas explorers have come under fire this summer after US
Federal lawmakers called for investigations into whether natural
gas drillers have provided an accurate picture of the long term
profitability of the sector. The Bedford Report examines investing
opportunities in natural gas and provides stock research on Delta
Petroleum Corporation (NASDAQ: DPTR) and Chesapeake Energy
Corporation (NYSE: CHK). Access to the full company reports can be
found at:
www.bedfordreport.com/DPTR
www.bedfordreport.com/CHK
Representative Maurice D. Hinchey, Democrat of New York, says he
urges to SEC to "quickly investigate whether (natural gas)
investors have been intentionally misled." Natural gas is
considered expensive to drill and most energy companies are
required to sign leases that require that they keep producing,
leading to questions about the financial risks surrounding natural
gas drilling.
There are also questions regarding the environmental risks
surrounding a technique known as hydraulic fracturing used to
release gas trapped underground in shale formations.
The Bedford Report releases equity research on the natural gas
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While a small group of Federal lawmakers have questioned natural
gas' long term profitability, most argue the US needs to continue
to promote natural gas development. Recently a bipartisan group of
eight federal lawmakers from gas-producing states sent a letter to
President Obama asking him to promote natural gas development "by
any means necessary... most specifically, by unconventional shale
gas recovery." Obama himself has said natural gas has "enormous"
potential as a clean energy alternative to oil.
Natural gas companies strongly oppose the calls for
investigation. Aubrey McClendon, CEO of Chesapeake Energy Corp.,
believes the future of natural gas is bright, arguing that "it is
absurd to conclude that shale gas wells are underperforming while
America is awash in natural gas."
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