The New York Times has an article today reporting that domestic Natural Gas reserves are 35% higher than previously estimated due to improved ability to tap deep shale deposits. (Zacks Equity Research senior analyst Sheraz Mian has also posted a blog on this earlier.) This helps explain why natural gas prices are so low relative to oil prices. In terms of energy content, there is a 6:1 ratio between an MCF [thousand cubic feet] of gas and a barrel of oil. At the current futures price of $4.12 an MCF, natural gas is going for the equivalent of only $24.72 a barrel, a massive discount to the current $71.06 price of oil. This will make a very significant difference to your energy investments. At least for the near term, look for E&P companies that are "oily," like Denbury Resources (DNR) rather than "gassy" like ...