US Gas Prices Rise After EQT Curbs Output to Fight Glut [BNN Bloomberg (Canada)]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: BNN Bloomberg
Benchmark Henry Hub futures rose as much a 6.7% to $1.96 per million British thermal units. The month-ahead contract has declined more than 20% since the start of the year and remains well below the seasonal average. Pittsburgh-based EQT will curtail about 30 to 40 billion cubic feet of net production through March in response to low prices, it said in a statement Monday. That's 5% to 7% of the company's quarterly production, according to Bloomberg calculations based on its fourth-quarter output. US gas futures have collapsed in recent months, with the mild winter reducing demand following increase in production from shale drillers. Now companies are having to adjust. Last month Chesapeake Energy Corp. and Comstock Resources Inc. both announced they would reduce output. EQT, which drills for gas in Appalachia, made the decision to cut 1 bcf per day of gross output starting in late February. It will reassess market condition after the end of this month. The production cuts are
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Earnings
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Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
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