CNX Resources has shut-in 375 million cubic feet per day of natural gas production in the Appalachian Basin since May 1, but its planning on easing up by July, according to Kallanish Energy.
The Pittsburgh-based company anticipates the volume of natural gas shut-in to decline to about 300 MMcf per day by July, and plans to adjust from there as conditions warrant.
According to a CNX statement, the decision to shut-in production will result in more than $30 million in incremental free cash flow over the next few years if the wells are turned back online by Nov. 1.
Learn more: Kallanish Energy > CNX to ease production shut-in in Appalachian Basin
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