Positive Rig Moves. It appears that everyone is starting to hear the same rumors. This is what people have told us this week:
- Some people are saying two rigs are coming in. Others are saying 1 rig. We track this and let you know.
- Two rigs are going into the Williamsport, PA area.
- People are telling us two rigs from Consol.
- A company in the Williamsport area which rents out high-end furnished apartments is getting calls look apartments. The gas workers are saying that their per diems are “back to their normal levels.”
Wall Street’s Getting Bullish on NatGas. As many of you know, I’m a CNBC junkie and have it CNBC on when I’m in my office. This past Thursday a couple of major brokerage firms issued buys recommendations on companies drilling in the Appalachian Basin. These brokerage houses are forecasting a strong year for NatGas in 2017.
This is not a stock recommendation. The companies recommended by the brokerage houses are Chesapeake Energy, WPX Energy (Many people still refer to as Williams. We did in out newsletter last week.) and Antero Resources. Please do buy these stocks based on this comment.
Conclusion. The 4th quarter of 2016 and the entire year of 2017 look like they will be good for the oil and gas industry. There are a number of reasons which we have stated on this blog. From what we hear in the field and what we see on CNBC and read the WSJ, we think 2017 is going to be a good year for companies working in the Appalachian Basin.