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Stock impact report

US natural gas drillers to lift 2025 output, reversing year of cuts [Yahoo! Finance]

Coterra Energy Inc. (CTRA) 
Last coterra energy inc. earnings: 3/18 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: conturaenergy.com/financials
Company Research Source: Yahoo! Finance
demand from liquefied natural gas export plants is expected to increase prices that had fallen to multi-decade lows. U.S. production is on track to decline in 2024 for the first time since 2020, when the COVID pandemic reduced demand, according to the U.S. Energy Information Administration's latest outlook. Drillers started cutting gas production after average spot monthly prices at the U.S. Henry Hub benchmark in Louisiana fell to a 32-year low in March, and have remained relatively low since then. In some markets, spot gas prices have even traded at negative levels throughout the year, meaning producers had to pay others to take their product. [HH/GAS] But rising demand for exports should boost average annual gas prices next year by more than 40% over the levels seen in 2024, according to analysts' estimates. The EIA projects annual average dry gas production will slide from a record 103.8 billion cubic feet per day (bcfd) in 2023 to 103.3 bcfd in 2024, but climb to 104.5 bc Show less Read more
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