Low Prices Prompt “Fresh Cutbacks” in NatGas Production Says WSJ
Despite one of the hottest summers on record, natural gas prices are in the crapper. The abysmal price situation is causing big drillers in the Marcellus/Utica, like EQT and Coterra, to cut back even further on natural gas production, according to an article in the Wall Street Journal. Coterra CEO Tom Jorden recently told investors that "gas markets are oversupplied," and his company will trim production by an extra 325 MMcf/d (see Coterra 2Q – Trimming Another 325 MMcf/d of Marcellus Gas).
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