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Major U.S. Natural Gas Suppliers Line Up Production Cuts

NATGAS

Major U.S natural gas producers are preparing to cut production through the send half of the year after a recent sustained price fall, signalling there is significant oversupply in the market:

  • EQT has embedded around 90 billion cubic feet equivalent of strategic curtailments this fall, which the company will carry out if the market remains depressed.
  • Apache is set to curtail, a further 90 million cubic feet per day (mmcfd) of gas in the third quarter.
  • Chesapeake plans to defer some well operations while the gas market is weak, while Antero Resources and EGO Resources plan to do the same.
  • Shale producer Coterra Energy is bracing for more reductions.

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