RE:NG NEWSToo little too late, imo.
The best to expect among the producers is they will reduce drilling to maintain production, which is at record high. Pressure on the Futures strip remains.
Look at Peyto and you will have a good example of what is to be expected in the industry.
With current capex, they are still aiming to increase production by 5-6% in 2023.
Most unhedged production will be sold at a loss for 2023.
Do we have to hope, natgas prices won't go below $1.50 this year?
Peyto dividend looks pretty safe for 2023, but I expect PEY shares to decline faster than the incoming dividends. Unless they reduce this $450m capex program to adjust to current natgas market.