RECENT DEVELOPMENTS POINT TO STABILIZING NATURAL GAS MARKET: But strong price rebound unlikely in near term

摘要

Suppressed natural gas prices are leading some the leading gas producers to curtail production. ExxonMobil, Encana, and Cono-coPhillips all have announced plans to reduce output and drilling for gas in the coining months. The impacts of these announcements have already been seen, with ExxonMobil's gas flow falling 1.8% in the first quarter while Encana noted a 5% decline and Cono-coPhillips a 1.3% drop in production. Chesapeake Energy, which previously had announced plans to reduce its gas flow, has yet to meet its stated objective. In its report on first quarter activity, Chesapeake said production during the period actually had increased 18%.