2021 prices dropped a little, but market fundamentals suggest higher prices are in our future. The Beacon, 06/21/2021

The Headline:   Near-term energy prices dropped from their 52-week high last week, but 2022-2032 prices are almost all up.    Market fundamentals still point to higher prices coming over the next few months.   The 12-month strip price dropped to $3.17, and the 24-month strip stayed above $3.00.  Drilling rig counts started to climb, suggesting a drilling industry belief that higher prices are coming.        

The Bottom Line:    This may still not be the week to lock in a short-term contract, but the longer terms are definitely worth looking at.   Use this time wisely – work with Lighthouse to get your bid parameters established and be prepared to execute when the market gives us the number you need.        

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