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Heritage Plaza 1111 Bagby, Suite 4950
Houston, Texas 77002
TPH Partners, based in Houston, Texas, is the private equity arm of Tudor, Pickering, Holt & Co., LLC, an integrated energy investment and merchant bank. TPH Partners makes private investments in the upstream, oilfield service and midstream subsectors of ... more
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English and legal studies
Articles & Papers
"You have to drill a well to hold acreage," said Tudor, who spoke at a media tour hosted by BHP Billiton Petroleum this month.
"There's a lot of that in America."
Natural gas prices have fallen from more than $12 in 2008 to less than $4 today, making it largely unprofitable to drill gas-producing wells.
Tudor considers the Eagle Ford the second-most economical gas field in the United States, behind the Marcellus Shale in the Northeast.
But even in the Eagle Ford, companies still have made a massive shift to drilling primarily for oil.
"The vast majority of the gas in this country is not economic," Tudor said.
Instead, most gas companies are biding their time until prices rise into the $4-to-$6 range and will only drill what they have to before then, Tudor said.
Tudor Pickering Holt CO.
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