Magnum Hunter CEO Evans Says Natgas is the Future, Not Oil

Magnum Hunter Resources is a Texas-based driller that concentrates mostly on the Marcellus and Utica Shale. Magnum’s CEO Gary Evans was on CNBC last week (watch it below) to say some interesting things. Among his comments, Evans said that natural gas, and not oil, is the key to U.S. energy production and the future of energy in this country. Evans also said he sold most of his company’s oil leases two years when the market was high, proving to be a prescient move now that the price of oil has collapsed and appears to be going lower since Saudi Arabia has committed to lowering their price for the foreseeable future. How low will the price of oil have to go before the rigs stop drilling here at home?…

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