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Chesapeake plans to cut 2024 capital spending and reduce full-year production from its Haynesville and Marcellus assets to nearly 20% below its 2023 exit rate. The company cited low market prices and aims to hold about 1 bcfd of reserve capacity by end-2024.
Deliberate production curtailment by a major US gas producer reduces supply growth, which supports Henry Hub prices and eases the surplus that had pushed prices down.
ogj.comGeert De LombaerdeFeb 21, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
