23 April 2024
Appalachian gas producers bulk up, shutter wells to weather prolonged downturn
Publication date: 14 August 2020
Gas Strategies Group
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US shale drillers Southwestern Energy and Montage Resources are to merge in an all-stock transaction that will create the third largest Appalachian gas producer with a combined 3 Bcf/d, in the latest sign that independent players are bulking up to weather a prolonged downturn in wellhead prices. The deal comes days after Seneca Resources unveiled 7.3 Bcf of curtailments “due to sustained low Appalachian pricing”.
Southwestern and Montage this week entered into ...