Natural gas price plunge puts heat on producers
By Anna Driver and Braden Reddall | Reuters
Fri, Dec 30, 2011
(Reuters) – A steep drop in natural gas prices is squeezing the profits of producers such as Southwestern Gas Corp, EXCO Resourcesand Quicksilver Resources, which may need to shut wells, raise cash, cut staff or seek merger partners in the coming year.
Spot natural gas futures dipped below $3.00 per million British Thermal units on Friday, the lowest level in more than two years, as a glut of gas from shale fields across the United States pushed inventory levels to historic highs. Continue reading