Top Story | Capital Markets | Capex Decrease
Appalachia Operators Keep Capex Unchanged; Employ New Strategy
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E&Ps that are focused on the Marcellus and Utica plays in the Appalachian region are reporting changes to their midstream gas gathering contracts in response to the increased market volatility.
What is even more interesting is that while its oil peers are busy cutting capex in the 30-40% range, Appalachian E&Ps are instead focus on reducing "long-term" cost.
EQT Corp. and Montage Resources Corp. have both amended their gas gathering agreements for 2020-2021:
Montage: Reduced the near-term minimum volume obligations and amended fee structure for its Marcellus Ohio asset - the company estimates gross savings of ~$200 million EQT: Permanently release firm transportation obligations of approximately 400 MMcf/d, or approximately 15% of EQT's current production. Adjusted Contracts Helping…- ✓ Full news archive — U.S., Canada & international coverage
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