With the bar continually raised on the estimated ultimate recoveries (EUR) from wells drilled in U.S. shale gas plays, determining how to value unconventional acreage is proving to be a diverse, complicated process, according to a new report.
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$8 Resistance Continues to Hold as Futures Creep Higher
Borrowing the premise from the 1993 movie Groundhog Day in which Bill Murray’s character is doomed to continually repeat the same day of his life forever, natural gas futures traders find themselves continuing to assault $8 psychological resistance in the December contract only to experience the same result each time — failure. On Monday the prompt month reached a high of $8 in afternoon trading before sinking to close at $7.894, up a dime from Friday’s close.
November 14, 2006
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