Range CEO Predicts Long-Term Commodity Price of NatGas

Here’s a prediction on the commodity price of natural gas from John Pinkerton, CEO of Range Resources, as delivered at the Wall Street Journal’s ECO:nomics conference this week:

Range Resources Chief Executive John Pinkerton says he expects prices for natural gas to remain between $4 and $6 a million Btus for the long term, owing to huge U.S. reserves.

“I expect gas to be between $4 and $6 through the end of my career,” Pinkerton says, speaking at The Wall Street Journal’s Eco:nomics conference in Santa Barbara.

Range Resources, of Fort Worth, Texas, owns a million acres of some of the best gas-filled Marcellus Shale rock formation that stretches from New York to Pennsylvania and West Virginia.*

*Wall Street Journal (Mar 22, 2012) – (Eco:nomics) Range Resources CEO On Natural-Gas Prices