The shaky and weak market for natural gas in this country leads many speculators and market observers to claim Chesapeake Energy in Oklahoma City won’t be alone in battling debt.
“If low natural gas prices persist beyond 2020,” stated Moody’s in a recent report, “companies may need to reduce debt to maintain compliance with financial covenants or amend covenant levels.”
Things are so bad in the natural gas industry that some 200 gas wells in Wyoming are for sale because they no longer are economically feasible.
The plight caught the recent attention of the Arkansas Democrat Gazette because the once profitable Fayetteville Shale gas field is now quiet with very little drilling activity, if any at all.
Click here to read the story by the Arkansas Democrat Gazette.