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PE - U.S. Shale Oil Producers Aren't As Hedged As You Think Implying More Downside For Associated Gas Production
Parsley Energy Inc. Class A
Welcome to the not hedged edition of Natural Gas Daily!
A confluence of bearish weather model updates combined with fears of coronavirus spreading into the US has caused natural gas prices to tank back lower in the last 48 hours.
The concerns are somewhat valid, but the bigger tailwind in the natural gas trade going forward is the impact on associated gas production. As we have stated in this weekend's WCTW, the drop in oil production will have a profound impact on associated gas production. We are already seeing US shale capex guidance get slashed