EQT Corp., the largest natural gas producer in the Lower 48, said Thursday it has ended another round of curtailments, but management said it won’t hesitate to continue shutting in volumes as low prices warrant. 

The Appalachian pure-play had curtailed about 400 MMcf/d beginning Sept. 1, cutting 15 Bcf from third quarter production volumes. The company slowly ramped up early this month, and has since turned online all the volumes. EQT previously curtailed 1 Bcf in May and ended those shut-ins by July, as other operators have throughout the basin this year.

“The driver for the curtailment program was a material price arbitrage between September and winter 2020 pricing and beyond,” said CFO David Khani of the latest curtailments. “Operationally, we’re able to defer those...