ETRN - Natural Gas E&Ps: Surviving The Downturn

The setup for natural gas in early 2020 has been pretty darn brutal. As happy as I was to be out playing golf in shorts here in North Carolina, it has been a clear indicator of just how uncooperative winter weather has been for inventory draws. Coupled with a likely uptick in associated gas production because of the pop in oil prices, these two new headwinds pressure an already oversupplied market. Simply, and the setup just has not been positive. We are below the $2.00/mmbtu level in the spot markets now, prompting multibillion-dollar write-downs on