With EQT shutting in one-third of its production, Cabot shutting in some of its production, and today’s news that CNX has shut in production (see CNX Update: Shut-in 375 MMcf/d, Central PA Utica the Future), the cumulative effect of those three (plus other M-U drillers) is that our region now produces at least 2 billion cubic feet per day (Bcf/d) less of natgas than it did just a few months ago. That decrease is helping to “balance” gas flows and help prices to not drop further than they already have.
With EQT shutting in one-third of its production, Cabot shutting in some of its production, and today’s news that CNX has shut in production (see CNX Update: Shut-in 375 MMcf/d, Central PA Utica the Future), the cumulative effect of those three (plus other M-U drillers) is that our region now produces at least 2 billion cubic feet per day (Bcf/d) less of natgas than it did just a few months ago. That decrease is helping to “balance” gas flows and help prices to not drop further than they already have.