Southwestern Energy Co. said Friday it would drop drilling rigs this year in the Appalachian Basin and Haynesville Shale, joining other natural gas-focused producers that have announced plans to curb activity in response to falling prices.


“Given near-term market conditions, we have proactively moderated activity, resulting in slightly lower expected production for 2023, and have the flexibility and optionality in our business to adjust as needed,” said CEO Bill Way.

The company said it would spend $2.2-2.5 billion this year, or roughly the same as it spent in 2022, to produce slightly less, as inflation continues to take its toll on the industry. Production is expected to average 4.6 Bcfe/d this year, compared with 4.7 Bcfe/d in 2022.

Way said the company, one of the...