Matador
Matador Resources in the Permian continues to have production outperformance on their Stateline assets. They are also having success with trimulfracking and they intend to do more of it. Overall, 390 MMcf/d natural gas producer increased their full year 2024 production guidance by around 1%.
Matador Resources in the Permian continues to have production outperformance on their Stateline assets. They are also having success with trimulfracking and they intend to do more of it. Overall, 390 MMcf/d natural gas producer increased their full year 2024 production guidance by around 1%.
EQT
EQT in the Northeast lowered their full year 2024 production guidance by 4.4% due to 1 Bcf/d of production curtailments in Southwestern Pennsylvania. The company is assuming that their curtailments will continue into May, which is to be expected with fixed price Dominion South at around $1.40 / MMBtu for May 2024. We wouldn’t expect EQT to bring back their shut-in production until July 2024 where Dominion South fixed price is currently trading around $1.74 / MMBtu. EQT also states that AI data center demand growth could grow between 10 Bcf/d to as much as 18 Bcf/d by 2030. There is also the potential of 42 Bcf/d on LNG export capacity in the US by 2040.
Range Resources
Range Resources in the Northeast kept their full year 2024 production guidance unchanged from the prior reporting quarter. The company continues to be in a production maintenance mode. They have not done any production curtailments as they are benefiting greatly from having 30% of their total production come from natural gas liquids and crude oil.
