Southwestern Maintains Natural Gas Activity Cuts, Eyes 'Strong ... - Natural Gas Intelligence
Southwestern Maintains Natural Gas Activity Cuts, Eyes ‘Strong Structural Support’ Longer Term - Natural Gas Intelligence
Southwestern Energy Co. continues to focus on decreasing dry gas completion activity, which includes releasing a hydraulic fracturing fleet in the Haynesville Shale, while maintaining its liquids-rich activity level in West Virginia and Ohio.
“Despite the near-term commodity price weakness due to relatively high inventory levels following a record warm winter, we continue to see strong structural support for natural gas,” CEO Bill Way said Friday in an earnings call. “On the supply side, U.S. production has remained essentially flat since late last year and we have seen and expect to continue to see a decline in the gas-focused rig count. We believe that near-term activity reduction will result in lower natural gas production this year, further strengthening the longer-term...
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