Natural gas prices are soaring. Why is production flat?

Despite higher natural gas prices and a market hungry for more to deal with coming winter shortages here and abroad, the region’s natural gas drillers — and producers all over the country — have barely stepped up the level of drilling to meet demand.

Capital discipline — keeping production flat even as prices climbed out of their historic lows and are over the $4 per million BTU level that the industry sees as sustainable for growth — has been the strategy for just about every natural gas producer.

Read more from our partners at the Pittsburgh Business Times.