Cabot Oil & Gas Corp. has again curtailed natural production volumes that averaged 372 MMcf/d through the last two weeks of September as it continues to weather weak Appalachian prices. 

NEPA oct 8

Shut-in volumes have grown to average 450 MMcfe/d since Oct. 1 in anticipation of better prices soon. Cabot has lowered full-year production guidance to 2.300-2.350 Bcfe/d from previous range of 2.350-2.375 Bcfe/d. The 2020 capital program is unchanged at $575 million. 

“While natural gas prices across North America currently remain challenged due to lower seasonal demand during the shoulder season and storage levels that are nearing capacity, we remain optimistic about the improving natural gas supply and demand outlook heading into 2021, which has resulted in a significant increase in the 2021...