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Stock impact report

US natgas drillers cut spending, reduce activity amid price crash [Reuters]

Comstock Resources, Inc. (CRK) 
Last comstock resources, inc. earnings: 2/26 04:30 pm Check Earnings Report
Company Research Source: Reuters
For months of relatively low gas prices, many producers kept output mostly steady on expectations that demand would rise in 2024 and 2025 when several liquefied natural gas (LNG) export plants enter service. However, this week's collapse in gas prices to a 3-1/2-year low convinced some drillers to reverse course. Ad Break Coming Up NEXT Stay Next Off English About Connatix V429921 About Connatix V429921 Skip Ad Continue watching after the ad Visit Advertiser website GO TO PAGE Comstock Resources , opens new tab (CRK.N) , opens new tab , a major U.S. gas producer, said it would reduce the number of rigs in operation from seven to five and suspend its dividend until gas prices rise sufficiently. Antero Resources (AR.N) , opens new tab , another big U.S. gas producer, said it would cut its drilling and completion capital budget by 26% after reducing the number of rigs in operation to two from three. It also dropped one of its two completion crews. Show less Read more
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