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US gas producers contend with low prices [Gas in Transition]

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US gas producers contend with low prices [Gas in Transition]

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Natural Gas News
US gas producers contend with low prices [Gas in Transition]

Summary

US producers are responding to low natural gas prices in various ways, including scaling back production, deferring completions and in one case, making a major midstream acquisition. by: Anna Kachkova

Low natural gas prices – already seen in 2023 – fell even further in the US in early 2024. Henry Hub prices have been trading below $2/mn Btu since the first week of February with few prospects for a significant boost in the short term. This translates into challenging market conditions for the US’ gas producers, and with no immediate relief in sight, they have been exploring different options for mitigating against low prices. One popular strategy when prices drop is scaling back production and spending on new drilling. Several major gas-focused producers including Chesapeake Energy, Comstock Resources, Antero Resources and EQT are all taking steps to cut back some of their production in various ways. EQT started curtailing around 1bn ft3/day of gross production in lat...

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