Guess who just got a lot richer....yep Jerry Jones [View all]
Jerry Jones’ natural gas company ‘hits jackpot’ as Texas freeze drives up prices
Comstock Resources Inc. has been able to sell gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices since Thursday.
https://www.dallasnews.com/business/energy/2021/02/17/jerry-jones-natural-gas-company-hits-jackpot-as-texas-freeze-drives-up-prices/
The Frisco-based natural gas producer owned by Dallas billionaire Jerry Jones is cashing in on a surge in prices for the fuel as a brutal freeze grips the central U.S., leaving millions without power.
Comstock Resources Inc. has been able to sell gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices since Thursday. As demand jumps amid the cold, gas at some regional hubs has soared past $1,000 per million British thermal units.
At the Henry Hub in Louisiana, the delivery benchmark for futures in New York, spot gas traded at $20 or higher on Wednesday morning, according to two traders. That compares with a settlement of $16.13 on Tuesday and just $3.73 a week ago.
Supply for next-day delivery at the Oneok Gas Transportation hub in Oklahoma traded at $1,250 per million British thermal units on Wednesday, according to David Hoy, a trader at Dynasty Power in Calgary. That’s up from $999 on Tuesday, and just $9 a week ago.
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