A little pre-holiday price bump, and good news on drilling rigs! — The Beacon: July 6, 2020

The Headline: The market was up a little last week based on warm weather, a smallish gas storage injection, and a long holiday weekend. Prices are still attractive, and there should be some good buying opportunities this week.

The prompt start annual strips 12-month through 60-month are trading almost flat — all closed the week between $2.41 and 2.48. Drilling rigs are up - a very slight increase, but we’ll take it after 14 straight weeks of dropping numbers. The far back end of the curve held the higher price level it set in the previous week, suggesting a sea change in longer-term price levels.

The Bottom Line: We are still in a buyer’s market — lock up a rate for as long as possible, especially in the 2022-2025 timeframe. Many suppliers will do delayed starts, so you don’t need to wait — strike now while prices are low!

Call 937-709-0098 x701 or e-mail Chris.Smith@LighthousePowerPartners.com for personal advice and help in getting your rates secured, and click HERE for your free copy of the Beacon.