Drilling rigs in the Permian basin
Shale drillers try to stay patient amid gas price slump
Producers resist urge to respond too quickly to gas price trends
US shale drillers are keeping their plans unchanged for now as they ride the peaks and troughs of gas price volatility. Prices spiked last year in the wake of Russia’s invasion of Ukraine but have since dropped back to pre-war levels, and analysts question whether the industry has learned lessons from the past—when quick responses to price changes have left producers playing catch-up. Certainly, the industry remains sensitive to price signals, and further fluctuations will shape how gas drilling plays out over the remainder of 2023 and beyond. Various other factors will also have an impact on behaviour, however, including how companies are structured and what their asset mixes look like. Whi
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