Stock Prices Fall 7-10% in Single Day for Big Marcellus Drillers

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trending downThere is no doubt the current stock market crash (what else can you call it?) has affected everyone and everything--including the Marcellus/Utica industry. Yesterday the price of West Texas Intermediate (WTI) crude oil closed the trading day at $38.24 per barrel--the lowest price since 2009 during the dark days of "the Great Recession". Natural gas trading at the benchmark Henry Hub in southern Louisiana, often used as a proxy for all natural gas, closed at $2.64 per thousand cubic feet (Mcf). The Dow Jones Industrial average sunk another 588 points to close down more than 1,000 points in two trading sessions--last Friday and yesterday. At the beginning of trading yesterday, the DJIA experienced its biggest intraday (within a single day) loss ever--plunging more than 1,000 points as trading began. Thankfully it regained nearly half of that--but still, it was scary on many levels. All of that fear has affected all stocks, including the stock price for some of the biggest Marcellus/Utica drillers, who saw losses averaging 7-10% in a single day--yesterday...

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