Gas Companies “Hit the Jackpot” On Deep Freeze ...Middle East

OILPRICE - Economy
Gas Companies “Hit the Jackpot” On Deep Freeze
source : OILPRICE ( Middle East ) () 12
While Texans are struggling to keep the lights and the heating on, gas producers in the Lone Star state, or at least those whose wellheads did not freeze, are having a blast. The wave of Arctic weather that hit the United States this week led to an explosion in the price of natural gas as heating demand shot up. Supply, however, could not keep up, not least because un-winterized wells in Texas froze, tightening production. This prompted some companies to de-idle wells in Oklahoma and others to boast they'd hit the jackpot. "We've got four of us…

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