Tubulars eye price pickup after near-term dip

Jun 08, 2012 | 12:04 PM | Michael Cowden

Tags  tubular prices, natural gas, energy, OCTG, Joseph Frantz, Range Resources, Greg Floerke, Chesapeake Energy Jack Weixel

PITTSBURGH — Energy tubular prices might be poised for a near-term dip as shale gas drilling declines, but gas exports and a switch to natural gas vehicles could bolster prices in the longer term, according to some energy industry experts.

While the oil rig count has increased, benefitting oil country tubular goods (OCTG) demand, the U.S. natural gas rig count is down tremendously and will likely continue falling, according to Joseph Frantz Jr., vice president of engineering at Fort Worth, Texas-based Range Resources Corp.

Still, low gas prices alone might not stop gas drilling activity, Frantz said, although he noted that this doesn’t mean that OCTG prices will trend upward. He pointed to new OCTG capacity that is being added in both the United States and abroad.....

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