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Stock impact report

Antero latest natural gas driller to cut spending, activity as prices collapse [Seeking Alpha]

Comstock Resources, Inc. (CRK) 
Last comstock resources, inc. earnings: 2/26 04:30 pm Check Earnings Report
Company Research Source: Seeking Alpha
saying it plans to cut its 2024 drilling and completion capital budget by 26% to $650M-$700M. The company said it is lowering the number of rigs in operation to two from three, and dropping one of its two completion crews. It is "good to see operators clearly lay out plans to slow D&C [drilling and completion] capital at current gas prices," and the market should view Antero's ( AR ) full-year plan as "a welcome slowdown in spend and production," TPH & Co. analyst Jake Roberts said in response. Earlier this week , top natural gas producer EQT ( NYSE: EQT ) trimmed its FY 2024 production guidance range by ~50B cfe from its recent outlook to 2.2T-2.3T cfe, which it said includes some flexibility to curtail volumes if prices remain weak; output totaled 2.016T cfe in 2023. "The market is asking for not only production curtailments, but also activity reductions," CFO Jeremy Knop said on EQT's ( EQT post-earnings conference call Also, Comstock Resources ( CRK ) said this week it w Show less Read more
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