EQT Corp., the nation’s largest natural gas producer, said Monday it would curtail up to 40 Bcf of production by the end of the month, reversing guidance it issued only three weeks ago as prices continue to trade below $2.00/MMBtu. 

Management said the company began to curb 1 Bcf/d late last month “in response to the current low natural gas price environment resulting from warm winter weather and consequent elevated storage inventories.”

The company plans to maintain the curtailment throughout March and “reassess market conditions thereafter,” which is expected to result in 30-40 Bcf net production cuts during the first quarter. 

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