Gas-Gushing Wells Have U.S. Stockpiles Swelling to Record
- Rigs in shale plays yielding record volumes of natural gas
- U.S. natural gas drillers facing lowest prices in two decades
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U.S. natural gas drillers facing the lowest seasonal prices in two decades are trying to cut back supplies. The only problem: They’re too good at their jobs.
Rigs are freeing record volumes of gas from new wells in six out of the seven largest U.S. shale deposits, Energy Information Administration data show. That’ll keep supplies expanding to all-time highs this year and next even as drillers sideline rigs, the agency said in a forecast Tuesday.