Prices fall as US shale gas supplies keep rising
The prices have fallen to levels seen in early 2012 thanks to continuing supplies of shale
Falling natural gas prices and a plunging rig count are doing little to slow the US shale-gas juggernaut. Henry Hub prices have fallen around 40% from around $4.40 per million British thermal units (Btu) in November last year to just $2.68/m Btu this week, nearing lows seen in early 2012. Prices have been even lower in areas inundated with new shale supplies. Prices for deliveries from the Marcellus shale on Tennessee’s pipeline system are down to around $1.40/m Btu, according to the US Energy Information Administration (EIA). At the same time, the gas-directed rig count is falling as drillers slash capital spending. The decline hasn’t been as sharp as it has been for the oil-rig count, but
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