Natgas firms rise as output drops

Tellurian

04/03/2024 18:52

** Shares of natural gas companies rise, as natgas futures
 NGc1  up 6.1%
    ** U.S. natural gas futures jump to three-week high as
producers cut output after prices collapsed to a 3-1/2-year low
in recent weeks  NGA/ 
    ** Producers CNX Resources  CNX.N  and EQT  EQT.N  up 1.9%
and 2.6%, respectively
    ** ETFs United States Natural Gas Fund  UNG.P  and ProShares
Ultra Bloomberg Natural Gas  BOIL.P  up 6.2% and 12.4%,
respectively
    ** LNG firm Tellurian  TELL.A  gains 6.2%
    ** TELL says it would not renew or extend the employment
term of CEO Octavio Simoes beyond June 5, and aims to
financially greenlight its first two liquefied natural gas (LNG)
trains by the end of the year
    ** EQT says will curtail nearly 1 bln cubic feet per day
(bcfpd) of natural gas production through March, to counter
persistently low prices of the commodity, largely on mild winter
weather

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))