Appalachia Regional Average Natural Gas Prices

Appalachian pure-plays Antero Resources Corp. and CNX Resources Corp. said Thursday their activity would remain subdued through most of the year as they work to implement plans crafted  by Covid-19’s impacts on energy markets. 

CNX, which announced both liquids and dry gas production shut-ins in April in response to low commodity prices, has yet to return those volumes to sales like some others have.

“If the current gas price contango continues through the summer, the company expects that these shut-in wells will be back online in early November,” CNX management said. 

The curtailments cut year/year production in 2Q2020 to 114.5 Bcfe from 134.5 Bcfe. Still, management said the decision to manage production through the latest downturn will improve 2021 results. The...