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Tue October 14, 2008
Capital investments slow in natural gas industry
By Elsa Partan
Laramie, Wyo. – An industry analyst says investment in the natural gas industry is slowing as the economy weakens. But Wyoming may have an advantage over other Rocky Mountain states in a down market.
There's a basic economic issue in the natural gas industry nationwide, according to Pete Stark with IHS in Denver. The company provides analysis and information to the oil and gas industry. He says gas producers are becoming more cautious.
"We're looking at a surge of gas coming onto the market in the face of softer demand," Stark said. "We're beginning to hear announcements from several of the large gas producers of curtailing their capital investment and drilling programs going into 2009," he added.
Stark says companies are not slowing production, but they are avoiding risk. That means they could be attracted more than ever to Wyoming's relatively stable business environment.