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Pennsylvania, Ohio and West Virginia supplied about one-third of U.S. shale gas output in 2019, with Marcellus and Utica producers growing rapidly. IHS Markit expects production to stay roughly flat in 2020 because pipeline and market constraints limit growth.
Chevron is exiting the Marcellus and Utica plays.
Flat production in 2020 after rapid growth in 2019 could tighten the supply outlook and support gas prices from the low levels near $2 per mmBtu. The shift from growth to flat output is a meaningful change for gas supply expectations.
whyy.orgSusan PhillipsDec 25, 2019Not 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.
