Drillers Cut Natural Gas Production As Prices Drop
PITTSBURGH (AP) – As natural gas prices continue to drop, the recent nationwide boom in drilling is slowing.
Several companies have said in recent weeks they plan to cut back production, but experts say the low prices are also opening up new markets.
Kathryn Klaber, president of the Marcellus Shale Coalition, says there will be fewer natural gas wells drilled in 2012.
Yet Klaber says that even as drillers are pressured by low prices, the cost creates opportunities for more people and industries to use the product.