Although NatGas Prices Soar, Major M-U Drillers Lose Money
An article in the Pittsburgh Post-Gazette highlights and focuses on the financial performance for four of the Marcellus/Utica's largest publicly-traded companies, including EQT Corp., Antero Resources, Range Resources, and CNX Resources, during first quarter 2022. Even though the price natural gas is fetching is higher than it's been in 14 years, M-U drillers are losing money. Why? Hedges and derivatives--bad bets on where the price of gas would go and locking in prices much lower than what the market currently supports.
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