EQT

EQT Corp. has once again curtailed Appalachia natural gas production, taking around 425 MMcf/d net output offline Sept. 1, the company said last week.

The move to cut production, announced at the Barclays CEO Energy-Power Conference, came less than two months after the largest natural gas producer in the United States brought back online 1.4 Bcfe/d curtailed in May in response to the oil market downturn and Covid-19 pandemic. However, management indicated that additional curtailments were possible if prices didn’t improve.

EQT management reiterated that its “robust basis hedge position” provides the company protection from in-basin weakness.

Dominion South October basis stood Friday at minus $1.086, according to NGI’s Forward Look. Winter pricing was much...