George Littell has some good news for US land drillers: He believes there will be a big increase in natural gas prices, followed by a substantial increase in dayrates, next year. “It’s just hard to pin down the timing,” he said. Read the full article at:
     

http://drillingcontractor.org/2011-drilling-outlook-3-analysts-3-takes-7390

Although shale gas production has grown very fast, George Littell believes they aren’t enough to make up for the significant declines in drilling activities elsewhere to keep production up. “Shales are still less than 20% of total production. Once the declines in all the other production overwhelm the shales ... the bottom will drop out on production.” When US gas production rolls over, he said, that’s when industry can expect gas prices to surge upwards