The Wall Street Journal
quoted McGuireWoods partner
Ryan Purpura in a
March 25, 2020
story on why investors are showing renewed interest in Appalachian natural
“The flight to safety is to gas,” said Purpura, leader of McGuireWoods’
energy industry team and a member of the firm’s
COVID-19 Response Team.
While the coronavirus pandemic has roiled global markets and natural gas
prices recently hit a 25-year low, the Journal reported that the
outlook for natural gas is good. Analysts are forecasting short supplies
next year unless companies resume drilling, the paper reported. The story
attributed investors’ interest to an oil-price war and reduced demand for
transportation fuels because of the COVID-19 outbreak.
Purpura said deals for Appalachian gas assets dwindled last year as prices
plummeted. Now, he said, big investors are showing renewed interest and
returning to negotiating tables.