Natural gas prices under $2/MMBtu have hit Appalachian shale gas drillers hard, but the longer the gas glut wears on, the deeper the problems will become. With each passing week, the shale industry reveals more financial stress. On Monday, analysts at Piper Sandler downgraded their near-term outlook for Range Resources and Gulfport Energy, two Appalachian drillers, to Neutral from Overweight, citing a “deteriorating” outlook. An analyst with the firm pointed to the global glut for LNG , the coronavirus , collapse of prices and force majeure declarations. U.S. nymex natural gas prices have been trading below $2/MMBtu since January, leading to a selloff in the sector, with particular pain on Appalachian gas drillers. EQT, the largest gas producer in the country, has seen its share prices fall by half since the start of the year, and it is down by 75 percent since late 2018. Gas production in Appalachia […]