During the 2024 Annual Meeting in Scottsdale, AZ, Austin Harbour, Managing Director-Energy & Power, Piper Sandler, moderated the Onshore Operator’s Perspective Panel.
The panel includes industry experts Steve Chesher, EQT Corporation and Mary Ellen Lutey, SM Energy.
The discussion provided insights into the current state of the energy industry, particularly the natural gas sector.
Lutey highlighted how the industry has adapted to the shifting market dynamics by leveraging the diverse asset base in the Permian Basin and South Texas. She noted, “We’re fortunate to have not only the Permian, which is quite oily but also our South Texas asset. About half of the acreage position is in the condensate-rich area. We’ve had that as a big advantage in terms of reallocating capital as necessary.”
Chesher discussed how gas-heavy producers have reacted to the recent price decline by curtailing activity, which the market has rewarded. He explained that “gas-heavy producers, maybe for at least the first time since the advent of shale, reacted to the recent price decline and gas by meaningfully curtailing activity. In a really public way, the market responded by rewarding the gas-heavy operators.”
The panelists also touched on the evolving relationship between E&P operators and their service providers, noting the need for a more collaborative approach to drive efficiency and maintain profitability for all parties.
Karina Erickson, Communications Director, writes about the Energy Workforce & Technology Council. Click here to subscribe to the Energy Workforce newsletter, which highlights sector-specific issues, best practices, activities and more.
