The gas market never ceases to amaze observers, but the Jan. 12-16 period could go down as among the more bizarre situations on the books, with record cash prices and gas demand in the Northeast and plummeting near-month futures. Over the last five trading days, the futures market lost $1.35 in value, or about 19%, since the close on Jan. 9, despite what many would consider very bullish fundamentals.
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San Juan Production Still Gaining Ground
The longevity of the San Juan Basin never ceases to amaze mostindustry observers. Like the Denver Broncos’ John Elway, thewestern producing basin in New Mexico and Colorado just seems tokeep coming back each year to produce even more despite its age andthe endless predictions of its degeneration by its critics.
February 15, 1999