Chesapeake Says Natural Gas to Rebound on Production Cuts
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U.S. natural-gas prices will rebound as producers reduce drilling and weather normalizes, according to Chesapeake Energy Corp.
“Two-dollar gas prices are not sustainable,” Mike Stice, chief executive officer of Chesapeake Midstream Partners, said in an interview at the Flame conference in Amsterdam. “Prices will rebound. You’ll see a supply impact from these low gas prices. We had a perfect storm in terms of production and warm temperatures. It can’t be repeated.”