May 7, 2024--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Low first-quarter natural gas prices punished profits at four large U.S. gas-oriented independent oil and gas producers: EQT Corporation (NYSE:EQT) (Pittsburgh, Pennsylvania), Range Resources Corporation (NYSE:RRC) (Fort Worth, Texas), Antero Resources Corporation (NYSE:AR) (Denver, Colorado) and Coterra Energy Incorporated (NYSE:CTRA) (Houston, Texas).

During the just-completed quarter, spot natural gas prices at Henry Hub, Louisiana, fell about 20%, or 52 cents per million British thermal units (MMBtu), from the comparable year-earlier quarter to an average of $2.13 per MMBtu from $2.65. During the first quarter of 2022, after Russia's invasion of Ukraine, spot prices averaged about $4.65 per MMBtu.

Other companies featured: Equitrans Midstream (NYSE:ETRN), Equinor (NYSE:EQNR)