More of a maintenance approach is expected in 2020, as capital expenditures spending and production growth slow down, according to Forbes.

While CAPEX spending cuts are projected by producers industry-wide, this is especially so in the Appalachian Basin, which includes the Utica and Marcellus shale plays that account for nearly 40% of all U.S. gas output.

Likewise, production growth in the Appalachian Basin is expected to be at 2-3% year-on-year in 2020, which is a decrease from 8-9% growth this year.

Appalachian producers who expect to cut CAPEX spending/production:

• EQT: expects a 2020 CAPEX range from $1.3 billion to $1.4 billion — a $30% year-over-year reduction.
• CNX Resources: has cut expected 2020 CAPEX by 8-10%, with slightly lower production volumes expected.
• Range Resources: says that for 2020 the “first priority is operating the business with organically generated cash flow,” not production growth.
• Cabot Oil & Gas: expects to see 5% production growth in 2020, which is down from 7% in 2019.

Learn more: Forbes > Growth in U.S. natural gas production should slow in 2020