Winter is coming, but higher prices for natural gas are already here. And if you’re hoping that Texas shale drillers will blunt the current price surges by boosting production, forget it. Wall Street would prefer they stay on the sidelines.The stock of Diamondback Energy, a major driller in the Permian Basin, has jumped more than 18 percent this month alone while shares of Fort Worth-based Range Resources, one of the biggest producers in Pennsylvania’s Marcellus Shale, have nearly tripled this year. In part that’s because prices are on a tear. Natural gas futures jumped 17 percent in September alone, and they’ve doubled in the past six months to more than $5 per million BTUs. The last time prices were this high was 2014. Back then,…View Original Post
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