Tuesday, February 1, 2011

Shale Gas Producers Could Face Financial Pressure (XOM, CHK, HK, RRC, XCO, SM, HAL, SLB) - MarketWatch

Mr. Miller believes the lease, flip land game for shale deposits has run its course in the U.S. and environmental taxes on shale gas production are a foregone conclusion. Coupled with very high production decline curves of shale gas deposits, we believe the entire shale gas producer composite are overvalued, especially Chesapeake Energy due to its complex web of off balance sheet debt and long term mortgages on its future production.Shale Gas Producers Could Face Financial Pressure (XOM, CHK, HK, RRC, XCO, SM, HAL, SLB) - MarketWatch

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