Two big natural gas players see higher prices in 2021

PITTSBURGH — Two major natural gas producers in Pennsylvania see the colder winter weather and lower-than-average supplies in storage as strong signals for higher prices for natural gas and natural gas liquids in the year ahead.

The entire year of 2020 was tough for natural gas producers in Appalachia, suffering from low prices and oversupply even before the pandemic crushed demand and led to significant curtailments in gas production for many producers including EQT Corp. (NYSE: EQT), Range Resources Corp. (NYSE: RRC) and CNX Resources Corp. (NYSE: CNX). Cabot Oil & Gas Corp. (NYSE: COG), a major producer in the Appalachian basin, saw the lowest price realization in 2020 for natural gas in its 31-year history as a publicly traded company.

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