Despite headwinds facing Appalachia natural gas drillers, the president of the Marcellus Shale Coalition, David Spigelmyer, told Hart Energy the news is not all bad from the region.
Natural gas prices at the Waha Hub in the Permian Basin in West Texas fell into negative territory, forcing some producers to pay other parties to take their gas.
The current oil and gas investor environment is “the worst we’ve seen in multiple decades,” says KeyBanc analyst Leo Mariani.
EQT, the largest U.S. gas producer, recently said it would take a write-down of as much as $1.8 billion, following CNX Resources, Shell and Chevron in reducing the value of gas properties.
Fresh off of a multibillion-dollar sale of its midstream interests, natural gas producer Indigo Natural Resources is flying high above the storm clouds.