Natural Gas Prices Beginning to Bounce Back - Is That Enough to Brace Up Chesapeake?

From Seeking Alpha:
The price of natural gas continues to recover: The short-term future price has reached its highest level since the end of January 2012. This price hike in natural gas is also reflected in the spike in United States Natural Gas (UNG). Will this rise in natural gas help curb the fall of Chesapeake Energy (CHK)? 
Chesapeake has been on the news lately, mainly due to the downgrade in the company's stock following the $4 billion short-term loan the company had taken at an 8.5% rate to stay afloat. 
During April and May, the price of natural gas bounced back from its tumble during the first quarter of the year. During May, the Henry Hub short-term future increased by 15.8% and the price of United States Natural Gas rose by 17%. The natural gas storage levels are still high (the natural gas weekly update will be published by EIA tomorrow), even though the injections are below last year's injections; I still think natural gas prices won't keep their upward trend for long, but let's assume for now natural gas will continue to trade up. Will this rise curb the downward trend of Chesapeake Energy? After all, Chesapeake is the second-largest natural gas producer in the U.S., so there should be some strong positive effects on the recent rise in natural gas prices.
Read the rest of the article here.

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