Major shale gas producers like Chesapeake Energy, EQT and others announced plans to intentionally reduce production in hopes of increasing the price of gas.
The number of new shale gas wells also dropped slightly from 110 in the fourth quarter to 100 in the first quarter of 2024.
The price of natural gas in Pennsylvania was unchanged from the fourth quarter at $1.69 per MMBtu (million British thermal units).
The price, however, represents a 24.9% drop from the first quarter in 2023 due to changes in the international price of natural gas.
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[Posted: June 3, 2024] PA Environment Digest
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