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Friday, April 19, 2013

Am I Missing Something?

Yahoo!Finance is reporting:
Exxon Mobil and Chesapeake Energy, two of the largest U.S. producers of natural gas, have admitted that unlocking gas trapped in shale-rock formation and selling it for $3.50 per million British thermal units (MMBtu) is proving more costly, on balance, than extracting $90 per barrel oil.

Not surprisingly, the companies are shifting drilling toward resources with greater potential for oil and natural-gas liquids. 
They're just now noticing that?

EOG made the switch several years ago, and made it public what their plans were. 

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