Around the Oil and Gas Investor editorial crew yesterday, the topic of conversation was, "What will the next 'trend' word be?" Last year, the hot phrase was MLPs (Master Limited Partnerships). However, with the rising fame of shales, the popularity of MLPs died as quickly as Britney Spears' popularity after her meltdown. But just like all recyclable pop stars, Britney is making a comeback, as is the fame of MLPs. But with the changing markets, shales seem to be dying down as well. E&P companies are starting to draw back on shale production, and a couple weeks ago, it seemed that production in the Haynesville may have hit its peak. As my colleague Stephen Payne stated in his blog yesterday, natural gas prices are hanging just above $6 per MMBtu, the minimum threshold needed to keep unconventional gas plays like the Haynesville shale solvent. So the shale frenzy seems to finally be fading, just like the squealing over Brangelina's twins is finally a distant yelp in our weary ears. What will the next hot oil and gas word be? Even if shales decrease in popularity, will the new Eagle Ford shale that Petrohawk is working in march its way into the limelight? Will the natural gas market, which has swept its way into politics, be racing its way onto the cover of Oil and Gas Investor? Only 2009 will tell.
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